House Hacking Denver

[Taylor Burns]

What's up BP! 

I am just getting started in the real estate game out in Denver Co. I am still just working on building up as much knowledge as I can. I want my first step to be getting into a house hack set up. I am looking for some advice on which sorts of deals I should be looking for to make this work.

I have been finding properties online and the MLS and running the numbers through the BP calculators. With the properties I am finding, most of them do not even allow me to break even, considering I will be taking up one room. Does anyone have any insight on what sort of deals I should be looking for before I buy? Should I be looking for off market deals or looking at auctions with the intention of doing a lot of fixing up?

I would like to get into a property this year but do not want to jump the gun on a house hack deal that turns out to not be a deal. I will be using an FSH loan and have limited starting capital at this time. Any insight helps! 

Thank you!! 

[Dan Mackin]

@Taylor Burns there are plenty of properties out there in Denver that will make sense as a hack, but for most people who have just started learning they may be doing some calculations a bit too expensive. As far as loans go FHA is not your only route. There are things like HomeReady and HomePossible which may actually be better for your first property. If you want more options feel free to send me a message or come to the BadAss meetup tonight and we could chat there.

https://www.biggerpockets.com/forums/521/topics/627065-denver-meetup-october-22nd-badass-real-estate-investors