New Investor Seeking House-hacking Advice

[Joshua Salazar]

Hi Everyone – This is my first post on Bigger Pockets after following the site and podcast for 6 months now. My goal is to “house hack” and buy a multifamily that needs some work (opportunity to add value) within the greater Seattle area next year. Just getting started on my real estate investing journey and hoping the community can offer their advice.

This year, I'm focused on paying off my debts (student and car loans) and learning as much as I could in real estate. I'm on track to pay off my debts this year and once I'm done, I will start saving up for down payment (3.5% since I plan on getting an FHA loan).

My question to seasoned real estate investors out there – given my timeline, what would be some things I can start doing to prepare me for my goal? I have done things such as analysis of the properties in the greater Seattle area, read real estate books, listen to podcasts, and even attended a couple of real estate training events. Should I start talking to real estate agents and mortgage brokers, or is it too early, granted that I won’t have my down payment ready until late half of next year?

I look forward to hearing everyone’s thoughts as I’m eager to take action. Also, to all real estate investors around the greater Seattle area, if ever you have free time, I would love to connect and chat over coffee, or even help out with a project you’re working on!

Thanks in advance!