House Hacking Plan in 3 years

[Duy Xuan Do]

Hello everyone in BiggerPockets,

I have been listening to many episodes of the BiggerPockets on how to invest my money in the Real Estate world in the past 3 months. I have a plan and I'm not sure if I'm going to the right direction. Please correct me if anything I say about my plan is wrong and I'm willing to learn/listen to more advices here.

I'm currently living in PA will be paying off my house this year (only $20,000 left). My house worth $325,000 right now and my family is definitely moving to Dallas Texas in the next 3 years. My plan is to sell my current house which will give me around $300,000 and in the next 2 years me and my wife will save another $100,000 which come to the total of cash we have in hand is $400,000. When we get to Dallas, TX we want to buy a duplex of $450,000 with a %5 down payment (est. $40,000 including closing cost) under my wife and my name since we will be living in 1 unit and rent the other unit out. Then we want to buy another duplex with the same price and a 5% down payment under my mom's name since she will be living in 1 unit and rent the other unit out. After 2 Duplexes ($80,000), we left with $320,000 so we want to buy another 2 Duplexes (same price) with 25% down payment ($112,500/each) since we are not living there for long-term rental which left us with $95,000 left. We will put that $95,000 into the emergency fund and continue to save money until our next purchase. In conclusion we will have the total of 4 Duplexes in the first year when we move into Dallas, TX. Is this possible? Please let me know if my math and my plan are missing out some important laws/rules that I haven't heard of. I know I'm still pretty news to Real Estate world so this is just the plan for my family in the next 3 years, we definitely moving to TX.

Thank you everyone

[Duy Xuan Do]

Quote from @Wale Lawal:

@Duy Xuan Do

Your plan to invest in Dallas, TX duplexes involves selling your house, saving, acquiring a property, and acquiring four duplexes for $400,000, with the remaining cash being $60,000. Your key considerations include loan approval, property management, market research, legal ownership, tax implications, and an emergency fund. Consult a knowledgeable agent, seek professional advice, and have a flexible plan.

Good luck!

 Thank you so much for the advice Wale. I definitely keep listening and reading books about real estate in the meantime.