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Updated 6 months ago,
House Hacking in Austin
Hello, I am 26 years old, single, and moving to Austin TX in the next couple of months. I have set a goal to save up at least 25k in 1 year to invest in a house hack, whether that by a duplex triplex or fourplex. My 5-year goal is to own as many multifamily properties as I can, ideally each of them cash flow. I know I can probably house hack my way to 5 properties in 5 years, but I assume I'll probably learn more efficient and aggressive ways to scoop up more properties as I complete my 2nd-3rd house hack, so that I can start picking up more than 1 property per year.
I don't want properties that will take a lot to fix up, I'm fine with cosmetics and do-it-yourself type things. I am looking for feedback on this plan, tips I should know, whether or not 25k cash is a good starting point, and if there is a better way to snowball rather than just househack 1 property per year.