House Hacking Success But What's Next?

[Tatiana Raid]

House Hack Breakdown (First Deal)

Type: SFH 2200 sqft

Bed/Bath: 4/2

Purchase Price: 337k with VA Loan

Out of Pocket Costs: 24k (downpayment, closing costs and minor cosmetic updates before renting out rooms)

PITI: $1750

PMI: $0 with VA

WSG: Variable

Electricity: Variable

Rents: $2050

On average the cash flow is between -$50 and $100 a month. Not great but I have significantly reduced my living expenses. I used to pay $1100 in rent and now I've only come out of pocket during the winter months when the heat is on.

What I would have done differently was saved a bit more for a down payment if given the time. In my case, I was transferring from a different area and had little advance. Overall I am pleased with what I found as this Washington market is pretty expensive, every other 4 bedroom was $40-60k more expensive so this was a great find.

What's Next?

My goal is to achieve financial freedom through real estate investing specifically through Buy & Hold. I had only just learned about the power of real estate before purchasing the property above. I have read countless books on the topic but I seem to be suffering from analysis paralysis. I'm having a tough time deciding what move to make next now that I've used over half my savings purchasing this one property.

In search of advice.

Thanks in advance.