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Updated almost 6 years ago,
House Hack: first time investor
I am looking to start my investing journey with a house hack. I am getting married in May of this year and have been saving up money for a place. I am looking to use my FHA on a duplex and am currently starting the search process. I have been using the rental property calculator to gauge whether or not these places would be good investments. Is there another way I should be analyzing these deals? Should I be following the same principles even though only one side/door will be collecting rent while I live in the other? I know I will still end up paying money, so what is a good amount to target for a mortgage payment (looking in the Philadelphia and surrounding areas). I am excited about this as an option because I know paying into some equity on a home that I own is way better than just renting. Then someday I can move on and rent out the other half!
Just some questions I have been thinking about as I start this process and begin taking my first steps towards financial freedom. Any tips, advice, ideas would be welcomed - thanks!