All Forum Posts by: Chelsi Wiejaczka

@Dave Meyers It is pretty close to campus, so its a good overall location, other than being off the highway (i-40).

@Sam Shueh I should add that I'm in Flagstaff, it's not a terribly busy highway, so pollution and auto exhaust aren't really an issue, it's mainly the noise I'm concerned about.

Thank you everyone else for your advice! I'll probably go hang out in the area during "rush hour" and see how bad it can get and make a decision from there.

I found a potential deal, but it's right next to the highway. 3 bed, 2.5 bath, newer construction, minor updates needed. My plan is to live in it, rent out the other rooms and eventually move out but continue to rent the entire property. My question is... Does the highway noise limit the people who would rent? Does it affect how much I can rent for? I plan on doing what I can to minimize the noise, but don't want to get into something I can't make money off of..

Thanks for your input!

Goals: My short term goal is to buy a 2-4 bedroom house/ townhouse, rent out as many rooms as I can while living in it. Eventually I hope to save up enough money, that I can rent out house #1 and purchase house #2, rinse and repeat until I have a good sized portfolio.

Market: I'm located in Flagstaff, AZ. First time homes/ townhomes are ~225 and up and there are not a ton of decent places I can afford. There are a few that pop up occasionally, but they go quickly. Single rooms rent for ~600-800/ month, a 3 bedroom house/ townhome can go for ~1800-2500.

Question: 

Which scenario will most likely work better for me in the long run? Purchasing a 4 bed at my max approval and rent out 3 rooms, or purchasing a 2 bed below my approval amount, rent out 1 room, but have a jump start on my next down payment.

Please share any other suggestions/ advice/ stories on house hacking you have :)