All Forum Posts by: ArieAna Overstreet

@ArieAna Overstreet I’ve been house hacking with different scenarios for close to 30 years. I strongly recommend it. It’s a great way to help offset your expenses while growing equity in a property.

I’m currently in a duplex that I house hack and the tenant’s rent covers my property taxes, my water and sewer bills, and almost all maintenance costs. Also at the end of the fiscal year we typically take out an owners distribution based on how much money is still in the account and what our upcoming goals are regarding new expenses.

I was fortunate to buy it when prices were much much lower and got a great deal on it so we don’t have a mortgage on this building but if we did the cash flow would help with that as opposed to taking a distribution at the end of the year.

My spouse doesn’t love having a tenant and sharing walls with someone but can see the benefits. So I would recommend you take into consideration your ability to tolerate living with someone in your house if you are considering renting rooms, it’s not for everyone. But house hacking a 2-4 unit without shared roommates is pretty straightforward.

@ArieAna Overstreet

Those are both good ways to start and you could potentially do both.  I would recommend starting with house hacking to learn the process of how homes are bought and sold. Wholesaling is a competitive business in most markets and takes time and resources. Doing a house hack you get the advantage of a place to live while you're continuing your RE journey.  

Hi ArieAna,

Congrats on making the decision to invest in yourself and future with RE investing! Of the two options you mentioned, I personally love house hacking. It is a great starting point to get your feet wet. Once you've identified your market and where you'll be purchasing to house hack (or if you'll do it out of the home you're in today) you'll be off to the races to start your journey. Happy to answer questions for ya along the way :-)

~Lindsey