What would you do? [First Time Hacker]

[Blaise Bevilacqua]

My wife and I are new to the REI world and are currently renting in NYC. Our lease is up in September 2024 and want to begin our house hacking journey. We're thinking of FL as the first place for us with a long-term goal to have $5k+ monthly cash flow through multiple properties.

- No debt / no kids (yet)
- Both work remotely [open to any market outside of FL as well]
- 3 years worth of savings
- spending December in FL for research mode

I've connected today with an Investor Friendly Real Estate Agent to kick start the process. When should we start making offers knowing our lease is up in September? 

Open to any suggestions, ideas, and comments. Thank you 🙌 

[Stetson Miller]

Hi @Blaise Bevilacqua,

I can second Cape Coral, or really the Southwest FL market in general for house hacking. Affordability and a great supply of multifamily housing is still something we're seeing consistently in this area, but there's also a huge range of opportunities depending on exactly what you're looking for, or willing to sacrifice to maximize future return

With your lease ending in September of next year, first, I would confirm with your landlord if you're able to transition into a month to month lease after the current one expires. This will help set expectations for whether you have a hard or soft move-out date. Either way, the goal should be to be moved into your new property by current lease end, which means you should plan on having an offer accepted on a new property around three months prior to that date in my opinion