All Forum Posts by: Andrew Gomez

I am currently looking for my first investment property which will be a house hack!

At this point i would like to purchase the home on a 15 year term for the first 8 months or so and as i get roommates consistently pay less of a the mortgage.

Then after that initial period i am going to refinance the home into a 30 year loan reducing the monthly mortgage and effectively getting my money back

Is there anything wrong this my plan?

@Anamaria Ivan i would advise against hard money especially in more uncertain times as this. This will increase your risk factor and unless it’s a fix and flip i would instead use more traditional means

@Joseph Cacciapaglia

I absolutely agree, however being that i do want to live in one of the rooms and have a couple of tenants lined up room wise i think that would be the better shot given that my main goal would be total ROI after 3 years or so given that i am trying to keep the loan at a 15 year term

If it’s cash flow negative at $500 but I’m living in it i see it as a win win

Any advice on my outlook?

@Shae Thompson

Absolutely, my main intention is an equity build but a cash flow plus home would also be the key here

@Nazakat Hossain

Exactly this was what i was looking for given i want to live in the house hack and rent out the other rooms i feel like it would be a win win situation for me

Currently, i have been saving for the past 2 years in order to be at this point ready to purchase a house with 25% down on around a $270- $300k Home, I am investing in San Antonio Texas,

If you were in my position starting out im curious to see what others would do?

My current plan is to buy a house with 4-5 bedrooms and then rent out each room 2 of which are already agreed to come in and pay rent monthly,

is there anyone who has started out in real estate similarly?

MY Financier is stating he can get me a no PMI on my financing with a 15% or less investment as well. Is there a catch to this or does his company simply have the ability to do so when it comes to this?

I am currently in the San Antonio Market and looking to buy my first Single Family Real Estate Property that will essentially be a house hack until i have all of the rooms rented in which i will remove myself from the master and return to my current stead.

However i am beside myself when making the choice to chase down a 3 or 5 bedroom home due to the fact that i am renting out each room i want to get the highest cashflow possible given that i will be managing the property myself. Does anyone care to shed some light on their experience with this type of situation? I do not want to get into a bigger investment and not have anyone rent from me however since i own a company already i do have the ability to pay out 6 months of vacancy. I have contacts currently from the local university which is where i plan to receive the bulk of my tenants as well. 

I use Wonder CPA inside of San Antonio Texas for all of my Companies. 
Great CPA with loads of knowledge in the Game.

I am currently thinking of opening the floor plan of the house i own to force appreciation by adding another bathroom. 
I know this is definitely a solid 10-20k investment in the property but it on rentometer rents increased by $1000 a month? 
Is this a smart move or do tenants not see the value in this?

I have yet to rent out this house due to my tenacity to ensure it is tenant proof but if you have any advice on this or any other forced appreciation then please let me know!