22yr old house hacking idea

[Agyei Axum]

Hello all, 

This is my first post here. Ive been listening to the podcast, reading, and shadowing investors for a while now just trying to learn as much as i can. I just graduated college in December and have a decent paying job in IT (65k) that will increase in the near future. I haven't moved out the house yet because i'm saving up for a possible down payment, but i still pay bills etc. A big commercial investor in DC (which is where I live) recommended that I get into the NACA program and house hack in a fourplex. What do you all think about this? The interest rate is crazy low, now down payment....and yes, I know the process is hectic but I know I can do this. Then I hear a lot of people that say screw NACA...so I just wanted to get some more opinions or routes on how to go about this. Thanks.

[Carley M.]

I bought a 4-unit through NACA. Closed in November. You can finance repairs to the house through your NACA loan too. Best investment ever and it's funding my next property purchase. You have to stay on top of your paperwork. Keep everything electronic and use descriptive email subject lines so you can easily find and resend the paperwork (for the third time). When you do repairs, get a NACA contractor that will fill out all the paperwork for you. Otherwise, you have to play project manager and paper-pusher all during construction too. Good luck to you! It's absolutely worth every hoop I jumped through.