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Updated about 5 years ago on . Most recent reply

User Stats

23
Posts
3
Votes
Emily Lange
  • Real Estate Agent
  • Homestead FL
3
Votes |
23
Posts

New to investing-first business plan

Emily Lange
  • Real Estate Agent
  • Homestead FL
Posted

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

User Stats

2,325
Posts
2,314
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Matthew Irish-Jones
  • Real Estate Agent
  • Buffalo, NY
2,314
Votes |
2,325
Posts
Matthew Irish-Jones
  • Real Estate Agent
  • Buffalo, NY
Replied

@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
business profile image
Irish Jones Realty
4.8 stars
43 Reviews

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