No money, looking to house hack in De. How?

[Candace Bowe]

Hi everyone! I’m a new poster, but I have listening to BP podcasts, reading through forums, listening to BP webinars, and reading books for a few months. I will also be attending the 3-day Fortune Builders workshop in a couple weeks with no plans to pay anymore money for Masters classes (learned about it in the forums).

I don’t take real estate lightly. I feel this is something I have to do in order to build wealth and live comfortably, especially after acquiring a substantial amount of student loan debt. I’m very passionate about getting started and would like to begin with a house hack, so I can save money for a deposit towards additional rental properties.

I found a property in Wilmington, De that I’m interested in, but I don’t have any friends or family who are able or willing to help me with money for a down payment. I’m also fairly new to the area, coming from New Jersey.

What are some suggestions for networking?

[Account Closed]

If your plan is to house hack then saving up the down payment for an FHA loan is your only option considering the funds have to come from your account. I'd say find the price range you would be comfortable buying at then making that down payment your target. Looking for something in the 100K range? Then you should try to save ~$6,000. Looking for 200K? Then try to double that amount.

Again that's just for that strategy. If you're realy looking with no money then you have to get a little creative with the terms of the deal you're looking for. I'm currently working on one now that I'll be posting soon. But if you're just looking to house hack I would start with that.