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Updated almost 9 years ago,
First Year of House Hacking, Then What?
Hello everybody, I'm new to real estate investing and am currently just in the planning stages of how I want to get started and reading everything related to rental property investing. I have been reading "The Book on Rental Property Investing" and there's a portion on house hacking. This makes the most sense for me because I'm 24 and don't own a house yet and I am currently renting an apartment so house hacking would be a great thing to start with.
So I get that, and that you have to stay in the property for at least 1 year, but my question is after that first year or two, how do you move forward? I can use the cash flow from the place I'm living in and renting out to buy a new property but I want to move out too and get a house for myself. How do I get a spot for me as well as be able to purchase more properties for me to rent out after that first year or two?