For someone brand new to rental property

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For someone brand new to rental property

Jackie Lambert
Louisville, KY · Member since 2021 · 32 posts · 14 votes

Hi there! I have a friend thinking about dipping into the RE adventure. Wasn't there a book about buying a house a year at the 3% down? Then moving every year and turning it into a rental? I feel like it was either a 10-house/year plan or maybe 15. Can't remember the name of it. Anyone??

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Nadeem Alamgir
Real Estate Agent · Member since 2023 · 831 posts · 577 votes
1y

I believe you're referring The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom

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  • Michael K GallagherBusiness Member
    Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
    1y

    @Jackie Lambert brandon has a couple that are on this topic, he calls it the stack I believe.  What you are describing has been discussed many places, I anticipate there are several books out there that would walk them through a similar process.


    The real move in my mind is to do what you are describing but with 2-4 unit buildings so you get the income as offsets sooner. 

    [email protected]614-362-2231
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  • Nadeem Alamgir
    Real Estate Agent · Member since 2023 · 831 posts · 577 votes
    1y

    I believe you're referring The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom

    2Reply
  • Jackie Lambert
    OP
    Louisville, KY · Member since 2021 · 32 posts · 14 votes
    1y

    Thank you both so much! I knew I was close. Hopefully she'll take the plunge :)

    Jackie

    0Reply
  • Corby GoadeBusiness Member
    Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
    1y

    Welcome! That's the best investment strategy for the average person, and it's SIMPLE. 

    If you are looking to buy and house hack in KY, you have to talk to

    https://fivepillarsteam.com/about/. I'm not sure if they work Louisville, but they will definitely be able to connect you with a local, knowledgeable team who can help you get rolling. 

    Best of luck!


    1Reply
  • James WilcoxBusiness Member
    Real Estate Agent · Bowling Green KY ~ Lexington, KY · Member since 2015 · 1k+ posts · 601 votes
    1y
    Quote from @Jackie Lambert:

    Hi there! I have a friend thinking about dipping into the RE adventure. Wasn't there a book about buying a house a year at the 3% down? Then moving every year and turning it into a rental? I feel like it was either a 10-house/year plan or maybe 15. Can't remember the name of it. Anyone??

    Hey @Jackie Lambert your friend is definitely on the right track but it might become more difficult at the later stages but definitely the HH is a great strategy to get started. I am happy to help your friend as well if they have any questions.

    REI James w/ eXp Realty54 Reviews
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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    1y

    @Jackie Lambert

    Your friend is likely thinking of the "Buy, Move, Rent, Repeat" strategy, which involves purchasing a home each year with a low down payment loan (like 3-5% conventional or FHA), living in it for at least a year, then converting it into a rental and repeating the process. This method allows investors to build a portfolio with minimal upfront capital while leveraging owner-occupied loan benefits.

    Good luck!

    [email protected]832-776-9582Podcast Guest on Show #469
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    • Jackie Lambert
      OP
      Louisville, KY · Member since 2021 · 32 posts · 14 votes
      1y
      Quote from @Wale Lawal:

      @Jackie Lambert

      Your friend is likely thinking of the "Buy, Move, Rent, Repeat" strategy, which involves purchasing a home each year with a low down payment loan (like 3-5% conventional or FHA), living in it for at least a year, then converting it into a rental and repeating the process. This method allows investors to build a portfolio with minimal upfront capital while leveraging owner-occupied loan benefits.

      Good luck!

       @Wale Lawal that is the book I couldn't think of! Thank you!! 

      1Reply
    • Wale LawalBusiness Member
      Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
      1y
      Quote from @Jackie Lambert:
      Quote from @Wale Lawal:

      @Jackie Lambert

      Your friend is likely thinking of the "Buy, Move, Rent, Repeat" strategy, which involves purchasing a home each year with a low down payment loan (like 3-5% conventional or FHA), living in it for at least a year, then converting it into a rental and repeating the process. This method allows investors to build a portfolio with minimal upfront capital while leveraging owner-occupied loan benefits.

      Good luck!

       @Wale Lawal that is the book I couldn't think of! Thank you!! 

      You are welcome and all the best!

      [email protected]832-776-9582Podcast Guest on Show #469
      NETWORTH BUILDERS5236 Reviews
      WebsiteView Page
      0Reply
  • Jackie Lambert
    OP
    Louisville, KY · Member since 2021 · 32 posts · 14 votes
    1y

    Thanks Corby, I will pass this along to her as well.

    0Reply
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