House Hacking Starting Point

[Steven Smith]

Hello BP community! I'm the definition of a newbie investor. I am reading a ton and soaking up as much information as possible. Not only am I looking to network and learn from the best but i'm also ready to start my investing career. I have a small amount already saved and believe house hacking is the best place to start my investing (I currently rent). House hacking is an awesome and proven strategy but the hurdle I currently face is where to find a good house to hack. I currently live in the West side of LA (Culver City) and need to stay in this general area due to work. What is the best next step for me?

Do I connect with a local realtor? Look online on my own? Drive around and look for deals?

If you guys can lend some advice that would be greatly appreciated!  Thank you in advance and look forward to learning from you all!

Best,

Steven Smith 

[Christopher Giannino]

@Steven Smith 

One thing to consider about house hacking in an expensive market such as LA is even if you can't live for free, paying a fraction of your current rent could be worth while and catapult your savings/future investments.  A suggestion I have is when analyzing deals, run the numbers 2 ways.. One way with you living there and one way when you eventually move out.  That way you can check to see if its a good deal when you move out.  Best of luck!