All Forum Posts by: Andre Crabb

Hey all,

As we all know house hacking is a great way to get started in real estate.

I've been wondering though, if you don't use an FHA, what are the benefits? For example, let's assume I live in an area where rents re $1000 / month:

If I buy a duplex that rents for $1000 per unit per month:

• With the house hack, my rent goes to $0/month, I'll get $1000/month for the other unit, and I'll have to pay expenses involved in owning/managing the duplex. Net before expenses is $1000/month.
• If I don't house hack, but stay renting elsewhere: my rent stays $1000/month, I'll get $2000/month for the duplex, and I'll have to pay expenses. Net before expenses is still $1000/month.

This is very simplistic, I know. But I've been trying to justify house hacking, and without using an FHA loan (I'd rather not pay the extra insurance) I'm finding it hard to see the benefits. Any ideas?

Cheers,

André

Courtney have you heard of Holton-Wise? @James Wise

👆Interesting @Chris. What's your reasoning? This sounds opposite of what I've heard before. Is it an Orlando-specific decision?

Cheers.

Yes! Thats the plan.

That toilet...how is that even possible??? 

@Austin Gant

Nice to e-meet you. In August I'll be in Miami for three months, and during that time I'm going to visit Tampa. I'm interested in meeting up while there.

Shoot me a message if you're still building your list :)

Hi @Jonathan Roberts, 

Sounds like you and I are on the same path! From the Bay Area, living off <50% of your income, and looking to build a RE empire out of state! Cleveland is also on my radar, maybe we'll do some deals together in the future!

I'm looking forward to seeing your progress.

Cheers,

Andre

@Antoine Martel sounds great! I'll PM you :) 

Hi @Antoine Martel,

How do you like the Cleveland market? Also coming from the Bay Area, it looks like a good (cheap) place to get started with REI and financial freedom ;)

Cheers,

André

@Sarah Torres are you actively investing? What kind of deals are you finding in Miami/Broward?

I'll be there for a while later this year and am thinking of flipping a house to get started in RE