All Forum Posts by: Alex Petsopoulos

 Crete

 Portugal had previously been 260,000 euro...then upped it to 500,000. But then they also banned foreigners from buying in the major cities. I wouldn't be surprised if they got rid of it altogether.

Greece also has new construction with sea views for the low 300s. I think I might go check out some of them in the next few months.

Hey All, 

I’m looking to invest in townhouses or multi family as medium-term rental properties in the DMV area. I’m seeking a highly motivated, responsive, and knowledgeable broker.  Price range is $150-350k and timeline is 6-9 months. Happy to chat about other details in property I’m searching for to help refine search. Broker will also need to have good references for contractors, CPA, and property managers. 

Thanks for the help!

Bill

Hey everyone! I'd appreciate any thoughts you would be willing to share on my situation.

I am a recent college graduate (age 23) looking to get my foot in the door of real estate investing through house hacking. Here is my situation:

I have 20k in savings, mostly invested in mutual funds. I have 25k in student loans (much lower than they could have been, as I saved much by working as a Resident Assistant in campus dorms for the past two years, which means free room and board). In June I will be moving to the DC area on a 67k annual salary pre-tax. I am also engaged, planning to be married in May of 2024.

Given my phase in life (young and without kids) I like to think it is an ideal time to begin house hacking. I am pre-approved for an FHA mortgage of 300k, which (with a ~12k down payment) could get me into a 2-bedroom condo in the DC area, where I could live in one bedroom and rent out the other. This is a property that eventually (given 1-year occupancy obligation) my future wife will move into temporarily, until we find another property to house hack after the 1-year obligation. Because of this, I could only offer a 9-month lease to a roommate.

I think to delay purchasing a property would be a missed opportunity, especially because after I am married, a future house hack would need to be a duplex or multi-family (compromising for the comfort of having a separate unit), which in the DC area are much more expensive, and even with two incomes, we may not be able to get approved for a mortgage for that amount.

Should I make the leap and house hack, perhaps spreading myself too thin with little buffer, but securing a property that could later become a cash-flowing rental? Or is it preferable to spend the next year renting, paying off student loans and building savings to purchase a rarer and far more expensive multifamily property, and delaying my RE investing journey?

Thank you for your thoughts!

 Im putting that much down so I dont have negative cash flow 

I put 35% down on my last 2 properties.

Very impressive! Great work.

 No, that's good to know! One of my questions was going to be how easily did you fill the units given the current rental market.  I'm glad you guys got through your grind and are able to appreciate the other side now that the rooms are filled.