First Property Acquisition For a House Hack!

[Josh Bowser]

What is up BP Fam!

Situation: I am starting a job in a new location on Jan 10th, 2022. I'm tired of renting and finally have enough money saved for an FHA loan and am gonna use this opportunity to find a property. I'm moving to the North Atlanta suburbs from Central Kentucky and essentially have a month to close. This is going to be a challenge but were gonna give it the old college try.

Goal & Property Type: Rents in this area range from $800-1200 per bedroom per month and I am looking to have my out of pocket housing expenses to be less than $600 / mo in the best area that I can find with as little down as possible. This property NEEDS to be able to pay for itself when I move out and its fully rented. I am looking for properties that have equal full bathrooms per equal full bedroom. I.e 2/2+s, 3/3+s and so on. Town homes in this area are popping up everywhere in great locations as there are a ton of young professionals and college students around (most likely the #1 target). Small Multifamily are hard to come by because of the investor population, but I am absolutely looking at those as well. However, the 2-4 units in this neck of the woods are extremely hard to come by in good locations (from my experience).

Sourcing the Deal: I am looking on FB marketplace/Craigslist inquiring to investors, investor agents, and wholesalers being open and honest about my situation and precisely what I am looking for. I have already gotten 3 positive responses on properties in 45 minutes of beginning this quest!

Financing: I will use an FHA if necessary. I am primarily looking for properties that can be obtained via creative financing.

Join me on this journey as I snag my first deal - it will be fun!

#Househack #Househacking #CreativeFinance #Atlanta