Education / House Hacking

[Lauren Zuend]

Hello Rookie community!

This is my first post to the bigger pockets forum, so want to put myself out there as well as ask a question to you all. I am currently a college student with plans to graduate next year, and I would like to soon after purchase my first investment property of a duplex, triplex, or quad and house hack it. I also plan to do so via an FHA loan. This is a two-part question:

1) I still have some time to do research and familiarize myself with real estate more (and to build up some purchasing power $$). One of the resources I've naturally been using is the Bigger Pockets Real Estate Rookie podcast, which has been great! Do you all have any suggestions for books, websites, articles, etc. to look in to and help prepare for starting the real estate investing journey? 

2) Any suggestions/tips/things to watch out for with an FHA loan? I read online that I need to maintain above a certain credit score, make sure my DTI is below a certain amount, and a few other requirements, but was wondering if anyone could give insight via their personal experience with an FHA loan.

Also, if you are interested in / have taken on house hacking (with multifamily or single-family properties), I would love to connect and continue the conversation. 

Thank you!

[Bryan Balducki]

@Lauren Zuend great on you for having a plan to get started! A couple books I recommend would be “the house hacking strategy” by Craig Curelop, “Set for life” by Scott Trench, and “retiring early with real estate” by Chad Carson. There are many other great books, but I recommend these to start with.

I do not have personal experience using an FHA loan but I know there are property requirements for an FHA, which makes it less competitive compared to a conventional loan. That being said, I know a friend who closed on a property with an FHA loan and there was a better offer using conventional. He got accepted due to clear communication between agents. FHA would be a great way to get into a duplex to fourplex if you don't have the down payment necessary.

Always open to connecting! I am a 4x house hacker realtor in Denver, looking to connect with like minded investors and those interested in starting. Feel free to reach out with any questions you have!

Hope this helps.