What would you do in my shoes

[Christopher Tyndall]

Hello all

I’m still learning but I was wondering what someone with some experience would do in my shoes.

I'm 19, and I live in Fredericksburg VA. I got pre-approved and I have an agent that set me up with email alerts for small multifamily. I want to start off house hacking, because I'd like to move out of my parents house and I'd rather not rent or buy something that's gonna be a hole in my pocket while I live there. I'd like to stay close to home in case something happens, and I'm having trouble finding any multifamily I can afford through the MLS. It doesn't seem like there's many small multifamily properties in my area, or if there is, I'm having trouble finding them. There is also quite a few apartment buildings and homes being built, with talk of more coming soon.

Should I do direct mail, and if so, is there something like a checklist on BP to ask the caller if I get any leads?

Should I invest somewhere else due to all the new homes popping up?

And what would you do in my shoes? I’d love to read the responses, especially if it isn’t something I’ve already put.

Thanks

[Blake Edwards]

Hey Christopher!  First off, congratulations on actively taking the steps to House Hack and start your real estate journey!

We tell people all the time, a small MF is not the end all, be all when it comes to House Hacking.  

We have a lot of clients looking to House Hack as well and we are on the hunt for Single Family Homes with:

A basement

An ADU (additional dwelling unit)

A loft area

1 large room that can be converted into 2

Lots of open space in the backyard to where they can build an ADU

It really is up to you and your imagination on how a property can be used for your goals.  House Hack for a year, and move out, now you have a fully rented property, and another one that is basically paying for itself.  Repeat that cycle and THAT is how you build massive wealth through real estate.

Congratulations again, and keep us up to speed on the direction you go!