House Hacking in the Philadelphia area

[Cameron Jordan]

I'm looking to get into the real estate investing world soon. As a young man I think house hacking a duplex or triplex would fit me perfect and my plans going forward. I will be investing in Philadelphia and the surrounding areas. What is some advice you guys have about House hacking. I'd love feedback from anyone, but especially from someone who has done it before. Thanks everyone!

[Richard Jahnle]

@Cameron Jordan - I think house hacking is a great way to get started with rental properties. I'm definitely glad that I went that route. I have been house hacking a duplex in Roxborough for about a year now. Here's some advice as you work towards finding that first property.

1) Keep educating yourself on rental properties. Listen to podcasts, read books, keep talking to people who have rental properties. The more well-versed you are, the easier things will be and the more comfortable you will be talking to professionals throughout the process.

2) Find a good real estate agent that you can trust. There's a lot of real estate professionals that you are going to need to work with (lenders, contractors, accountants, lawyers, etc.) in the course of buying, renovating, and renting your house, and you definitely want to network and build your team with all these professionals. But it's not real until your agent is taking you around to look at properties. It's also probable that your agent will connect you with your lender, the other professional that you will not be able to get your property without. So get a good agent. 

Good luck with the process. If you have any questions at any point along the way, feel free to reach out.