All Forum Posts by: Charlie Krzysiak

^ Also forgot to mention I was planning on using FHA

Seeking advice on next steps to get started. Any input helps! Not to make this post too long, but here are the logistics:

Graduating college in December of 25, just received a full time offer from my internship with start date in the summer of 26 in Dallas, 10k in savings, no student debt, and do not want to rent when I start.

Have done a few posts on here now asking for advice. In my last post I was asking/considering a condo as my first property. The HOA fees, small equity growth, and having someone be able to tell you what to do kind of turned me away from looking that direction.

 After further diving in, I think a house hack makes the most sense for my scenario. I have a bunch of buddies from my college/old roommates moving to Dallas to start work in the same time frame. 

My main question is what steps should I be taking right now to make it an achievable goal to own a house next summer? Do I need to talk to real estate agents, lenders, etc? As of currently, I have just been running analysis on houses in the DFW metroplex with an excel sheet I made becoming familiar with neighborhoods.

Lastly, shoot me straight, do you think buying a house with 10k in the bank is too thin to get started? That is really all I have to put into it. However, I do get a $5,000 bonus if I pass certifications before my start date next summer (pass CPA exams).

Thank you for taking the time to read this and anything helps,

Charlie

Hey Dominic,

Thank you for the nice words and advice! I definitely will plan on house hacking after college. Are there any property types you would specifically recommend?

Charlie

 Hey Kristin,

Thank you for reaching out and for the advice. House hacking a duplex would be my ideal situation, but I find it challenging to find anything available in the DFW area in my price range. Do you have any recommendations for finding these properties? I will stay in contact if I have any questions with lenders, title companies, and contractors.

Thank you so much,

Charlie

 Hey Diego,

Thank you for the response! I did not know that FHA would most likely get rejected with a condo. I will start looking now in the area for a house in my price range.

I am from Argyle, so nice to see you are out of Flower Mound!

Charlie

@Bruce Lynn Thanks for the info Bruce! With such a competitive Dallas market, getting any house under 200k that's not in a rough area looks impossible. Any advice on finding properties? Also I really appreciate the CapEx explanation. I did not know they could just drop a bombshell on you. Maybe I will have to shift gears like you said and go for little elm or a suburb. The trade off being if I want a property I need drive a little to work. Especially if it is FHA financing. I didn't know they don't even qualify in Dallas with a condo.

Hey all,

I am seeking advice and mentorship on starting my real estate journey! Any response helps.

I currently am a senior in college graduating in December. I will graduate with zero debt and have around $10,000 in saving. My current internship in Dallas is going very well, and I expect to be back in the city full time in the summer of 2026. As of right now I do not have any living plans lined up for next year. Upon searching the popular areas my graduate friends suggested (Uptown, The Village, Greenville), I have determined there is no way I can justify renting a property in that range.

Funny enough, I am currently living out of a 2 bedroom condo north of Dallas (short term air bnb) for my internship with one of my college friends (we split rent). Rent is decently expensive, but whenever I booked the stay, the owner mentioned he was trying to sell the unit. The complex is gated, 10 mins from my work, and in a good location. Not to sound like I am falling in love... but after that call, the idea of buying a condo with a FHA really popped into my mind. I feel like a condo would allow me to:

1) Get experience and my foot in the door with little capital.

2) Protect me from getting wiped out by an unknown capex expense.

3) Potentially house hack.

4) Not feel bad about burning money on rent. 

I understand the two main downsides of condos being monthly fees out of your control and little appreciation. But besides that, what are y'alls opinion/concerns on me buying a condo right out of school? Grill me, shoot me straight, anything helps. 

Secondly, condo, house, anything with a mortgage... How would I go about getting approved with no income history? I have heard some lenders use school etc. I have a 750+ credit score, just zero paystubs of income (besides my internship). Is it possible to get a FHA at a good interest rate with just a good credit score and proof of my start date? My parents would also not be opposed to cosigning, but I would prefer it be all on my own.

If possible, what should the timeline be for this process? Should I get preapproved before searching to know my options? How early should I do this? 

Thanks so much for reading this. I know it was kind of a hectic post, but I am all ears and appreciative of anyone who takes the time to read this!

Charlie

Hey you guys would love your advice below!

I am graduating college next December and am moving to Dallas to work full time. My brother currently lives in Dallas and pays an arm and a leg to rent an apartment (He is married so cant house hack). To me it does not seem worth it and would love to hop into real estate right out of school rather than pay crazy rent. Because of this, I have been running the numbers on many properties and doing my research in the Dallas area. I am from Dallas so I am familiar what areas would be considered "ideal". After my internship this summer I will have about 20k in the bank. 

However, upon research I have discovered it is really hard to find cash flowing HOUSES in good areas in my price range. 

What are your thoughts on condos as a first investment? I am finding some that are below 200k that are not that bad in condition. Are condos are good way to get your foot in the door? In my mind a condo will provide me:

-CAPEX is controlled by HOA (I only have to pay, not dedicate time)

-Low down payment

-Cheap financing payment

I plan to live there for 3-5 years and after could expect a NIAF around ($200). Is that really that bad if I will be getting equity and plan to live there for 3-5 years? Assuming rents will increase surely it will cash flow at some point correct? Also I know HOA fees can be outlandish.

Or, would you guys recommend me keeping my money in my pocket, getting a cheap apartment my first year of work, and watching for a 300-400k HOUSE while saving?

Clearly there is a lot of competition in the Dallas market. Do you guys think there is an option to find a property in my price range that will cash flow in a good part of town? I could also look at suburbs to find better deals. 

Thanks for input,

Charlie

I am looking to do the same thing. Let me know if you end up moving forward with this! I happen to be more conservative and fearful about lawsuits down the road. I am wanting to transfer mine to my llc to protect anything whenever I start renting it out as a STR. Let me know if you get any info on this

Hi all!

Background:

I currently am a junior in college who is taking an internship opportunity this upcoming spring with an accounting firm in Dallas. I am currently living in a house in my college town my parents own (My older brother went to the same school, but is now graduated). They pulled the trigger on getting a house because they found themselves constantly paying for costly hotels when visiting and having to pay both of our rent. With the property being vacant almost the entirety of spring and summer 2025 due to my internship, I thought it would be a great opportunity to get experience with Airbnb.

I pitched my parents the idea of having it listed on Airbnb for next spring/summer so we can see what post graduation could look like when it is completely vacant. I pitched the idea of me running the operational day to day to get experience, while they pay the mortgage. We decided on a % and they are stoked because they wanted in the long run this property to be a gameday house for football games etc. I think having the flexibility to choose what weekends my family or friends wants to come into town out weights the consideration of putting a tenant in there full time.

I have researched a bunch of things that come into consideration before starting this and I would love thoughts!

Questions:

- What are the steps to getting a property into an LLC? Will the lender want to change loan terms/rates? Is this allowed until the terms?

- What can I expect with taxes/registering with city/state?

I assume I need to register my property as a short term rental in Texas as well as my city? I have found the proceeds will be taxed at 6% by Texas and 7% by the current city I live in based upon Hotel Occupancy Tax. Upon top of that, federal income tax.

- What new type of insurance will I need?

I assume I will need to get new insurance that will cover and have a clause about short term rental capability? Also I saw online something about umbrella insurance? Are these the same thing?

Hope everyone is doing well and I thank you if you took the time to read this!