All Forum Posts by: Daniel McDonald

@Dave Estochen I used a heloc to finance the Reno on my second house hack in Beverly, MA. At the time my rate was like 4% and now it’s 10% so agreed with everyone else I wouldn’t do it for long term stuff, but then again I know people who do and it doesn’t seem to bother them so I guess it’s more how comfortable you feel. 

I used Hanscom credit union, which I hear a decent amount from other investors in MA. It was a pretty easy process. 

@Jonah Goss not investing in notes but have a few rentals in Beverly. Always looking ti connect with local investors. 

@Daymian Mejia I am a 2x house hacker and agent in the north shore. Working with house hackers is why I got my license in the first place. I'm pretty active on here and IG (@HouseHackandHustle). Happy to chat, share my experiences, or help anyway I can. I usually host a meetup too every month or so. Feel free to shoot me a DM. 

@Kyle Roderick STR Secrets with Mike Sjrogen. It's great. None that way. I stay local. I host one myself. And try to make as many as I can around Boston or up this way. Went to one hosted by Pace Morby last Friday. That was pretty cool.

@Kyle Roderick that’s awesome. I like that market for STRs. Is this your first one? Who was your agent? 

It's simple. Regardless of how you feel about any of those major cities, there will always be people who want to live there, even at an insane cost. That's safety in numbers. 

 I was using the BP calculator for awhile, but honestly it’s more than what a house hacker needs. So I made a spreadsheet. Been trying to actually make a new one that’s more HH focused. 

@Jack Lee Craigs book was what got me really started on house hacking. I've been house hacking now for about 5 years In Beverly, MA. What part of analyzing deals are you stuck on? House hacks are not like a traditional investment property and admittedly a little more emotion will play into whether it's going to work or not for you. It's definitely not as cut and dry as a BRRRR or flip.

This is where having an investor friendly agent is going to be key. They should be able to give you an idea of what needs to be done vs. what can wait and rough estimates/recs for contractors. You can also get a contractor to go look for you and give you a verbal estimate but not everyone will do that. Or do it for free.