All Forum Posts by: Benjamin Sussman

@Thomas Burnett Thank you so much for the reply and great advice!

To provide further context, my alternate option to breaking my lease would be to invest in Indianapolis. Only three hours away from Chicago, the market cash flows much better, and it is a much more affordable market. I would buy a home around

$80k with 20% down, and potentially hire a management company. For a lack of a better phrase, I would buy this house as a practice property to make

mistakes at a small scale and then use the lessons

learned to scale my portfolio from there, househacking next July once my lease expires.

Thank you both so much for the replies and great advice. 

@ThomasBurnett to provide further context, my alternate option to breaking my lease would be to invest in Indianapolis. Only three hours away from Chicago, the market cash flows much better, and it is a much more affordable market. I would buy a home around $80k with 20% down, and potentially hire a management company. For a lack of a better phrase, I would buy this house as a practice property to make mistakes at a small scale and then use the lessons learned to scale my portfolio from there, househacking next July once my lease expires.

Currently sitting on $60k in Cash. My lease doesn't end until July 1st, 2021. Didn't discover bigger pockets/the concept of house hacking until I was in my lease. Should I keep growing my cash reserves and wait until my lease is up to house hack as my first real estate investment? Seems like the most logical step but I don't want to wait 9 months to grow my real estate portfolio. Or should I get started now, get a rental property, and also keep saving from my job to house hack when my lease is up in 9 months?

Currently sitting on $60k in Cash. My lease doesn't end until July 1st, 2021. Didn't discover bigger pockets/the concept of house hacking until I was in my lease. Should I keep growing my cash reserves and wait until my lease is up to house hack as my first real estate investment? Seems like the most logical step but I don't want to wait 9 months to grow my real estate portfolio.  Or should I get started now, get a rental property, and also keep saving from my job to house hack when my lease is up in 9 months?