Florida [First Time Hacker]

[Blaise Bevilacqua]

Hi! I've caught the house hacking bug and looking for any advice on this game plan. My wife and I are new to the REI world and are currently renting in NYC. Our lease is up in September 2024 and want to begin our house hacking journey.

We're thinking of FL as the first place for us [I could see us there in 20+ years & no state income tax is nice]. The long-term goal is to have FI ($5k+ monthly cash flow) through multiple properties.

- Both work remotely [ideally HH in Miami, but we understand this is a tough market]
- No debt / No Kids (yet) with $250k+ in savings for a downpayment. Thinking of going the HFA route as well. 
- spending December in Miami for research mode

I've connected today with an Investor Friendly Real Estate Agent to kick start the process. When should we start making offers knowing our lease is up in September?

Open to any suggestions, ideas, and comments. Thank you 🙌

[Samuel Boyd]

@Blaise Bevilacqua Congrats man! This is the order of operations I would use.

1. Connect with realtors in any FL city/area you are even remotely interested in. Vet them.

2. Have them put you on MLS searches (basically as soon as now) so that you start to see the price points of each location, quality of product, etc.

3. Use these searches to narrow down what areas you like/don't like and then start planning trips to visit in person to see what you think (could be a great time to visit a few properties in person as well).

4. Get pre approved with about 4 months left in your lease (May 2024), start searching hard

5. Make offers on the best ones, and be under contract before August.

6. Give yourself a month buffer to close, move down, get familiar, etc.

7. Rinse and repeat!

Let me know if you want me to plug you in with any investment-focused brokers or are considering the Space Coast at all. Good luck bro!