Green Horns House Hacking Des Moines, WA

[Devin Cutler]

My Wife and I are all in! We have decided to be committed to BRRRR Investing. I have been listening to BiggerPockets podcasts for the last four years. In 2015, I turned my credit around, paying off my bad debt. Then in 2016 my wife and I bought a house in Des Moines WA, situated next to SeaTac Airport, Highline Community College, and the Police Academy. During 2017-18 we saved our money and used that for a beautiful wedding in Jamaica last December 2018 (holding no debt).

Now we are pushing forward, hacking our home, we have completed a "livable" mother-in-law area in our basement. My wife and I moved down there we and are now working towards renting our upstairs bedrooms individually to flight attendants. We are 1/3 of the way (next week we have a contractor splitting our Master into a two bedroom) once we get the last two rooms filled we are saving about $2000 extra each month with our setup. We will than refi as a four bed two bath comp for added value for less than a $2000 cost to us.

In the fall/winter months of 2020, we want to do kick off the "real," step-off into investing we plan to use the rental income to place the 20% down for a purchase and then use our HELOC from our primary to fund the rehab. We will follow the steps of the BRRRR process focusing on multi-family 2-4 plex.

The first two years, I listened I was convinced I should and begin in Aberdeen. Now I am strongly considering starting off investing out of state. I have been looking on the MLS daily at Texas, Tennessee, Georgia, and Florida, Wisconson and just today Louisiana, breaking down the deal and just preparing for the next step. Here is my question, what do you think our current plan, is sound? If you had to step off the ledge again, where would you start?