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Updated about 5 years ago on . Most recent reply
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New to investing-first business plan
First off thanks for reading!
Im a very new investor and after reading/listening and doing some research this is my House hacking plan:
•Buy a 3db/2ba single family in Greenville SC as a live in. Possible small renovation work out of pocket, depending On the deal.
•VA loan, 0%down, pay closing costs w/cash. Which leaves cash in our pocket for unforeseen expenses.
• Rent rooms/air bnb to live for free or very little. Save like crazy-husbands on deployment.
•use our own money for 20% down on the next deal, most likely multi family
•use cash flow from second property toward first property to pay off ASAP.
•repeat/unless I decide To go another route at this point
Any big flaws to this plan? Has anyone done this before? Any insight is appreciated!
Most Popular Reply
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- Real Estate Agent
- Buffalo, NY
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@Emily Lange looks reasonable to me. Why not start with a Multi family though? Stand up 2-3 multifamily homes, then buy the single family to live in.
- Matthew Irish-Jones
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