New to the city, interested in househacking

[Brandan Vazquez]

Hello,

I'm new to Houston and am interested in house hacking, preferably a duplex, triplex or 4-plex. Real Estate seems feels pretty daunting to tackle but I really want to make it happen. I appreciate all the knowledge I have been able to get from Bigger Pockets and look forward to starting my real estate journey.

[Karl McGarvey]

Welcome to Houston and welcome to REI!

House hacking is one of my FAVORITE ways to help clients invest in RE, it is such a powerful tool. One recommendation I do have, is to focus less on MF and instead focus on getting a deal and starting the clock towards deal #2. MF properties are the gem of properties for many investors, and as such they come with more competition, especially in this market. You may spend months trying to get into one, which is months you could have been in another property ticking down the clock of the minimum amount of time the lender makes you occupy it. Keep in mind, while it is not as widespread in the books and podcasts, you CAN successfully house hack in a SFH by renting out bedrooms, or even just by living in the home for the 12ish months the lender will require before moving into your next home. While its not as profitable for year one, after year one you are using the cashflow from property #1 to pay off mortgage payments on property 2. I have had clients spend over a year waiting for "the perfect MF property" only to never get one when they could have been in home #2 already.

Just a few notes from a guy who has seen people do it, hope it helps and feel free to reach out for anything Houston Real Estate!