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Updated about 6 years ago,
House hacking/ property managment questions
Hello everybody. I am new to real estate investing however this is something I have been wanting to get into for quite some time.
I am currently saving up money to buy a 4 unit property and will be using the house hacking method to get started. The goal is to save up 50k by next year before I buy this property. I will be using the VA loan which will allow me to purchase this property with no money down.
Since I don't have any experience managing properties, I am planning to hire a professional property management company.
So with that said, I have a few questions for some of the experienced investors/ landlords on here.
1. Could I get away with living in the 4 unit without the tenants knowing that I am the landlord? I work a full time job and I do not want to be bother constantly during my time off. Just wondering if anyone on here has any experience with this situation.
2. For those who use a property manager, does the rent money go to the property management company or does it go directly to a seperate account?
3. How should I go about coming up with the leasing contract. Should I go to a lawyer for that? I know that the leasing contract is a huge deal. If I could get any samples from some of the experienced landlords on here, It would be much appreciated.
Thanks in advance.