All Forum Posts by: Brad Haughton

I'm very curious about something is it possible you can use real estate to build your own Dream Home cuz I never seen a lot of people talk about well a few here and there but about building their dream home from Real Estate let's say you do I don't know the hacking and the BRRRR strategy say 5 or 10 years is it possible after that you can belild your dream home. Love to hear everybody's story about how they built their dream home.

@Bryan Nwokem since I don't know nothing about real estate since I'm also new the fact that you said this is a new build and based on the rent I would just go $1,700 a month that would be me if I was in that position but then again I don't know numbers. Are you house hacking this since this is your first property?

I have a question about FHA loan can I legally use FHA loan to buy a multi-family house in New York let's say for example a two-family or a four family house or three family unit house can I use that in New York only reason I'm asking there is a YouTuber who is doing house hacking in New York which he is showing the process since I don't see a lot of people actually showing the beginning process of house hacking showing their Journey but anyway in this case he said with the FHA loan you cannot get a forklift to the lender might not like that idea so he suggest just getting a two family unit any input on that if any Realtors or lenders are in the New York area that can elaborate on that. And oh yes, he is also a realtor, but he also talked to a lender who said that would not work.

@Dave Foster oh I don't mean like a 1031 exchange I'm talking about house hacking that's why I brought up 1031 Exchange as an example when your house hacking you got to move different primary houses right but I said that because on the YouTube video I'm watching they said each time you move to different primary it has to be better than the last.

So I'm watching a video on YouTube right now about house hacking but I think that I said in this video every time you house hack is like a substantial upgrade not a downgrade is that true when it comes to house hacking or is it like a 1031 exchange where you have to buy a house that's better than the previous house kind of like that I'm thinking of doing house hacking in New York up to maybe 10 multifamily units and then start branching off to something else like obtaining Apartments and maybe consider developing my own house I don't know just thinking idea in my head but ultimately I like the idea of doing house hacking. Any knowledge or Insight information you can provide will be greatly welcome regarding how house hacking work and I'm definitely thinking of going with the FHA loan for the house hacking idea for the multi-family side of housing.

Oh yeah another person replied with FHA loan will that still be your best option start out when you don't have a large amount of capital for a down payment say 20% down but you can still use a 3.5 or 5% down payment?

 Interesting so location does kind of matter in this situation 🤔 

 That's very interesting but what I noticed when I look at Zillow and I look a little farther away I'm noticing their million dollar houses in the area so for example I'm looking in the middle of Westchester between Yonkers New Rochelle and White Plains and Mount Vernon so I'm essentially looking at Eastchester Bronxville Tuckahoe Scarsdale or Hartsdale Greenville and Northeast Yonkers

Since I know real estate is kind of like a numbers game but what if your weakest link is you're not a numbers person but can you still technically do real estate investing?

 Yes I would like to know a little bit more insight and you mentioned something about living farther from New York and living closer to New York?