Post House Hack Investing

[Cody McVay]

Hello BP!

I completed my first House Hack (duplex) almost 6 months ago! and am planning on doing another HH (4 - plex) when I can, I'm also looking to break into small mulit-family ((8 - 15) units) as my first "real" investment by raising private capital, both by the end of the year hopefully.

My question is meant to start a conversation as I look at House Hacking as dipping your toe in the water prior to diving in, there is not much information on what to do between dipping your toe in and swimming... so, 

1.) What was the first "major league" investment post house hacking you completed? (SFR, Wholesaling, Multiplex, a flip, BRRRR, syndication!)

2.) How did you get it done? (own money, hard money, partnership, raising private money)

3.) House Hacking, in my opinion, is the single best way to reach FI (or at least start), but many people are afraid to do it as there's a lot of misconceptions about this way of investing. I was told "that's crazy" or "I could never give up my privacy" even "that's the lazy way of investing" (to which I say, "work smarter not harder"?) and personally I have yet to experiance a down side that would outweigh what I've gained... so for the fun of it, to those who have house hacked and do have something to share when they thought "I'm crazy", "I can't believe I did this" please share!

4.) Please leave with any advice to the people out there considering dipping their toe into investing by house hacking.

My advise is should you take this leap, try your best to avoid your tenants discovering you're the owner. When they know you're the decision maker you'll get every request under the sun and it's a lot easier to just be the messenger and blame the "Owner" for denying the request. 

Best!

[Andrew Syrios]

I haven't house hacked but the friends I have who've done it usually just go onto the next house hack. Indeed, some turn it into a lifestyle. I got one who's nearing ten!