All Forum Posts by: Corey Bogaski

Currently house hacking a SFH. 4b/2bath and renting 3 of the bedrooms out while living in 1. I completely updated everything in the house besides the kitchen and 1 of the bathrooms which i eventually plan to do next year.

My goal is to cashout refinance next year and use that money to buy a 2-4 unit house hack. Which i am debating on using my VA loan again to avoid the downpayment or using the FHA loan. I am jumping the gun on my timeline but just wondering how i go about the process of getting a cashout refi and exactly how that process works. Eventually id like to stop house hacking and be able to buy rental properties without needing to move into them.

Would love to hear any relative advice to be given! Thanks to everyone in advance.  

whats up @Pat Martin

I am currently house hacking a single fam, 4b/2bath. I am living in the basement and renting out the other 3 bedrooms. I did $500 rent and split utilities up between us 3 on average and am charging them all included. The 3rd bedroom is smaller and renting to a friend who plans on moving after the holidays so charged him significantly less. Luckily for me, 2 of the guys i am renting to were my roommates before i bought the house. But, i love the idea and am also very open with them that they are paying the mortgage for me. To me its the best way to go about it. Youre being upfront and not "sneaky" and hopefully will motivate them to go thr same route!

@Matt Buckley I appreciate you dude! Both great areas I was hoping to get into but just couldn’t find the right deal. We’ll have to meet up one of these days and talk about some stuff. Thank you for reaching out to me, and especially with helping through the process! 

Thank you all so much, i appreciate all the answers. Ill post an update soon and let everyone know how its going with pros/cons! 

I am buying my first rental property using my VA loan. It is a 4bd 2b, single family home. I will be renting 2 of the bedrooms out to friends (who i already live with) and plan on trying to find someone to fill the other bedroom. I plan on laying new carpet, staining cabinets and painting walls before we even get in there. Any other tips on forcing some appreciation? I eventually want to update both bathrooms, but have been told that can cost upwards of 15k.

As for roommates, i plan on using rentredi app and charging them rent+utilties all included. Anyone have any experience with the app or any other suggestions of what to use? 

My goal is to get 1-2 a year. So just looking for some general land lording tips and things to be prepared for this first one, and of course any DIY tips when doing this little updates through the house, or anything else i can do. 

TYIA!

My girlfriend is looking to becoming a part-time real estate agent. Besides getting certified, is there anything else she needs to do? Or is it as simple as getting licensed and just getting hired into a company that will work with part-time agent? T.I.A!

Thank you guys! Have any real life examples to share?

Hey everyone, 

I am new to bigger pockets. I am looking at getting my first property (house hack) within the next couple months. For the sake of the example i am going to just use fake numbers to see if i understand how the process works.

So, if i buy a house for 100k, put 50k into it and it appraises for 200k; i can take 75% of the 200k (150k) and use it on another deal without paying it back??

I know the mortgage will change and everything for the property, I mainly just wanted to get the big picture of what a refinance is. Thank you to anyone who responds and i hope this can help other people as well!

Build412 on social media! Reach out to them.