All Forum Posts by: Cole Britting

I agree with everyone above - house hack! I am 20 and am about to start mine once I get out of school. I would be doing it now, but I go to school in NYC which makes it nearly impossible. Educate yourself as much as you can - listen to podcasts, ask questions on the forums, read books. After that, take action! Don't sit on the sidelines, experience is the best teacher.

Where are the best markets to house hack in California?

I've heard people saying there are a lot of great places in Cali for house hacking that aren't necessarily as expensive as the normal LA, San Francisco, San Diego, etc. I don't need to be guaranteed in finding a place that is cash flow positive, but I'd like my tenants to pay most of my PITI if that is possible. I also am fine renting out rooms in a SFR, so I am not set on multifamily.

Any suggestions?

Hi @Marcus Auerbach,

Thank you for the write-up. The video is very helpful as well. It is interesting to hear about the growth in Milwaukee and how the stats may be misleading, it makes a lot of sense.

Thanks again!

Hi @Ashley Kehr,

Thank you so much for all the great info! I have made an excel sheet with some data (thanks to BP Insights), and have crafted it so it spits out a nice number (almost like a grade on a test) when I type in a market. Although, it is more a starting point than something concrete. A lot of these metrics I never even thought about, and they will really help me get a better feel for some of the markets I'm looking at. I really appreciate the help!!

Thank you for everything you do with the BP Rookie podcast as well, it has been invaluable to me!

Who has house hacked in Denver or SLC? I'm thinking about moving to one of these two cities once I am out of school in early 2022. I know a lot can change in the span of a year, but I'd love to hear people's experiences and thoughts!

Any thoughts on the markets or life in general in these two would be appreciated. I'm looking for a house hack that once I am done living in it I can still rent it out with cash flow being my priority. If it is any help, some of my main criteria are: bikeability/walkability and safety.

Thanks!

Hi everyone!

When do you think it is too early to choose a market to house hack? I graduate college in December 2021, and am hoping to house hack right after I get out. I'm hoping to get a remote job so I can choose my own location. Should I be worried about choosing too early because a lot can happen in the span of a year? Or since I plan to hold the property long term, do I not have to worry about this as much?

I'd like to get started researching the area, a potential team, and get a feel for the market, but I'm afraid a lot can change and in a few months I might change my mind. Should I choose a market now and get researching the specifics of that market? Or keep learning in the meantime and choose one in a few months?

I'd love to hear everyone's thoughts! 

I'm also wondering if now is a good time to buy or if it is best to wait.

The conclusion I have came to is similar to those above. The sooner you start, the better for things like loan paydown, appreciation, etc. Also, if I can make excuses now, then I probably will do the same in the future!

Congrats! Sounds like an awesome deal.

Great article! Thank you for all the information on the market and your thoughts for the future.

Is there any database or resource that shows the inventory numbers for small multifamily in an area? I'm trying to narrow down potential places to house hack, and although I could go SFR and rent by the room, I'd much rather go to a market with a good amount of small multifamily.

If there isn't a good database for this, any tips for researching specific areas?

Thanks!