I'd like some opinions and advice on how I could house hack.

[Noah Deason]

Sorry if my title makes me sound mean or demanding. Anyway I'm currently 20 years old and I been trying to find ways to purchase my first property. I don't have any job history that adds up to 2 years and I guess I'm wondering on some things I should work on right now. At the moment I'm in the Army National Guard and I'm on a mission. Currently stationed at Camp Swift in Bastrop, Texas, but I live in San Antonio. I'm gonna be this mission from around 6 months to 1 year. I don't know if I should stay on this mission for 2 years so I have some job history or get off when I can and see if I can use an FHA loan to purchase a mutifamily and have my tenant pay for the morgage. What do you think I should? And if you need me to clarify anything of course I will.

[Cham Vee]

Hello Noah Deason,

It’s wonderful that you wanted to start your investment journey very early. I appreciate that.

To have equity in a home, the loan doesn’t need to be on your name. If you want to buy a house immediately, you can partner up with family or friends who will be eligible for loan and you guys can have a well written agreement about equity percentages, roles, responsibilities etc

if you can wait, yes I suggest you to get 2 years of employment for much smoother and straight forward process.

if you have lot of time to spend on real estate, then you can even choose to go with creative financing route like seller financing, subject to etc

Hope this helps

Good Luck !