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Updated over 4 years ago on .

User Stats

51
Posts
31
Votes
Michael A DeAngelo
  • Columbus, GA
31
Votes |
51
Posts

Preapproved for first house hack

Michael A DeAngelo
  • Columbus, GA
Posted

I was just approved for a FHA home loan up to 190k. I am looking to house hack to be able to save more money so I can reinvest that. I currently live in an apartment and pay 850 a month for rent. My girlfriend loves our apartment but she's getting on board w the house hack strategy. She has a really good SAVE mindset but doesn't think about iyet. I know that investing in real estate is one of the ways we will get to financial freedom and am trying to start immediately. Cutting out our housing cost and start to build a portfolio through house hack is how I'm going to do it. With that said are there any tips you guys would give me to look for in my first deal. I've never purchased any real estate so any advice will be helpful.

Should I do duplex or are more doors better?

Are there any strategies to use OPM for the down payment or any way to leverage that as well?

Should I try to make the deal where seller pays closing cost?

Any opinion on homes that looks like SFR and are divided by floors or are separate doors better?

Again any input will be helpful!