All Forum Posts by: Davis Carter

Hi Kevin, my wife and I are currently in a very similar position. We are looking to househack in Redlands, CA area with an FHA loan. It definitely is difficult to cash flow, but if you are set on staying in CA and the the alternative is paying pretty steep rent, then building equity through the house hack is definitely a great alternative! I would definitely recommend getting connected with a great agent and lender through BP as well!

Hello Hector, I definitely commend you for thinking along these lines. What I would recommend is certainly paying off the debt with the highest interest rates, and watch the snowball effect take place with the extra capital you will have available. What you will do with that extra capital will depend on your risk tolerance and desire to invest. From a purely numbers based view, if you are able to generate a higher rate of return on your investment than you are paying in interest, you should invest. This is definitely possible with real estate and I would definitely consider looking into potential investment opportunities, but again, it is all dependent on your risk tolerance. 

Hi Corinne! Congratulations on your soon-to-be graduation and for looking to begin a house hack. I am currently looking to house hack as well and the process I am going about is learning my location (analyzing properties, understanding the rental market, learning neighborhoods, etc), building my team starting with pre-approval from my lender and working with an investor friendly agent. Now it is just patience and waiting until a deal that works with my numbers comes up! Bigger pockets has some great resources for finding lenders and RE agents as well!

@Randy Rodenhouse Great saying! I think it's so important to allow yourself to fail forward and just get started! 

Like @ChrisSeveney said before already, worse neighborhoods will often come with more unexpected/miscellaneous expenses. Account for higher turnover which will also be costly as property management often takes a larger percentage of that month's revenue when new tenants are placed. Although worse neighborhoods often work great on paper, they don't always realistically work out as well but can certainly be a great starting investment to gain experience and get your feet wet!

Good luck with your endeavors and congratulations on starting your real estate journey!  

Hello Everyone!

I am new to bigger pockets, and I'm looking to network in the Redlands, CA area. I'm currently looking to find a property that I can house-hack for my first investment, and it would be awesome to build a great team of like-minded individuals (real estate agent, PM, Lender, etc.) or just talk and learn from others who are a little further along in the journey than I am!

Thank you!