First Deal: House Hack

[James Bradin]

I figured I should post here, since I wouldn't be where I am if it were not for this website and all of the other tools and products that BiggerPockets has to offer. I am currently under contract with a closing date in mid-October on a duplex that I plan to house hack. I am active duty military and had the opportunity to use my VA loan for financing. I chose to put slightly more than 10% down in order to make the numbers work more favorably. I was able to purchase the property for nearly 25% off the asking price.

Based on the numbers I have run and comparable rent in the area I will be essentially living for free (not including luxuries like wifi/cable).  I am beyond excited to begin my real estate journey and learning to be a landlord.  The day the property went under contract I purchased Brandon Turner's book The Book On Managing Rental Properties and have been reading it as I nervously prepare for this next step.  I am very impressed with the tips presented in the book.

I just want to thank everyone on here that provides newbies like me with information and advice in this business.   I know for a fact that I would not have purchased this property had it not been for the hours of podcasts I have listened to by Brandon and Josh.  Maybe this will motivate some other newbie to complete their first deal too.