All Forum Posts by: Brian Kueck

Glad I came across this thread! I have never heard of the the sufficiency test before seeing it here, but I am also looking to buy my first house hack as the start to my REI journey. I'm trying to learn something new everyday and improve my network as well on BP. Will be learning more about the requirements for the FHA loans since that is most likely the financing option I will be using to get my first house hack. Thanks to all who have posted good information and advice.

Risky to be over-leveraged in any economic climate, the only potential upside is that the U.S. government could suspend mortgage payments temporarily (Italy already did this!). Given the banks can now borrow for 0-0.25% with the additional $1.5 Trillion+ pumped into the economy by the FED, they should be able to shoulder a couple of months of missed payments. Either way someone is eventually going to have to pay that mortgage if tenants can't pay their rent, whether it be the property owners or the U.S. Government. It is a unique time to be alive for sure, one for the history books.

@Adrian Fajardo don't worry I'm open to all advice and perspective. Don't have to apologize for that. I agree with what you say and think that adding value is super beneficial as well! I'm game for any asset that appreciates over time AND cash flows nicely as well. The ultimate win-win in investing.

@Jeff Purl Nice! I'm currently still in Lubbock finishing my final semester at Tech. Moving back to the DFW near west Fort Worth in May after I walk the stage. What kind of property are you looking to purchase for that house hack?

@Adrian Fajardo Thank you for that suggestion. My only thing with a multi-plex around the dfw area is that they tend to need a bit of rehab on top of the bigger down payment as you mentioned. I think my plan now is to get my first house, either a duplex or a 4 bedroom SFH and rent by the room.

I'd love to connect and hear more about your journey!

@Jordan Boyle Thank you for responding. Hoping to gain more and more experience as I get into it. What kind of real estate investments are you focused on now?

I am a senior at Texas Tech University and graduating this May (finance and accounting). My plan is to work in the DFW area while saving for a down payment to purchase my first house hack. I think house hacking will be the best way for me to get into real estate investing and give me some experience screening tenants and being a landlord. Plus I already have a close friend who would be my first potential tenant. I've been listening to 1-2 podcasts daily while walking to and from class and I love the idea of house hacking as a young 22 yr old to get my feet wet with REI.

As far as financing, my goal right now is to save up for a low down owner occupied loan (probably FHA). If there are any other experienced house hackers out there who have tips or advice for financing your first house hack project fresh out of college let me know as well! If you or anyone you know is investing or house hacking in the DFW area I'd love to connect with you and talk real estate.

Thank you for any responses and I wish all other investors the best of luck in their endeavors.