All Forum Posts by: Destiny Malloy
Destiny Malloy has started 2 posts and replied 4 times.
Post: First Time Buyer, Potential House Hacker / Out-Of-State Investor
- Posts 4
- Votes 2
Quote from @Russell Brazil:
Quote from @Destiny Malloy:
Quote from @Russell Brazil:
Quote from @Destiny Malloy:
Hi All, I am currently living with my parents and hoping to be able to move out in the next 1-2 years. I would like to buy a duplex in my area (DMV), but there are not many multifamily properties in the area (and the few that are in the area are very expensive), so it would be hard to find a deal I can afford. I am worried about trying to house hack a single family home for safety/security reasons. I have not done much research on out-of-state investing as I am worried about getting out-smarted by professionals who know that area better (I would also really like to find something that I can move into for at least the first year so that I can get out of my parents hair).
I am looking for advice on how I can get started as a first time home hacker in a tough market? Are there other factors that I can consider that would make house hacking in the DMV more doable? Are there safety measures that others have used in SFHs when house hacking to make it feel more secure? Is there anyone in the same boat who tried out of state investing as a beginner and was able to generate some cash flow? All articles/books/podcasts you can recommend for me to learn more about my options are appreciated!
This ultimately comes down to price. What's your price point?
I don't have much money to start out with (so far I have about 30,000 saved for down payment+closing costs), but I am continuing to save (and learn!). I know most of the duplexes in this area will be near $1mil, so I am also considering buying a larger SFH and renting out the rooms either in the northern VA or MD area.
A single family where you can rent out the rooms is an option many in the area use if they cant get into a legal multifamily. Keep in mind each state here has different occupancy limits. Virginia allows 4 unrelated people, Maryland 5 and DC 6.
That is great to know! Thank you!
Post: First Time Buyer, Potential House Hacker / Out-Of-State Investor
- Posts 4
- Votes 2
Quote from @Russell Brazil:
Quote from @Destiny Malloy:
Hi All, I am currently living with my parents and hoping to be able to move out in the next 1-2 years. I would like to buy a duplex in my area (DMV), but there are not many multifamily properties in the area (and the few that are in the area are very expensive), so it would be hard to find a deal I can afford. I am worried about trying to house hack a single family home for safety/security reasons. I have not done much research on out-of-state investing as I am worried about getting out-smarted by professionals who know that area better (I would also really like to find something that I can move into for at least the first year so that I can get out of my parents hair).
I am looking for advice on how I can get started as a first time home hacker in a tough market? Are there other factors that I can consider that would make house hacking in the DMV more doable? Are there safety measures that others have used in SFHs when house hacking to make it feel more secure? Is there anyone in the same boat who tried out of state investing as a beginner and was able to generate some cash flow? All articles/books/podcasts you can recommend for me to learn more about my options are appreciated!
This ultimately comes down to price. What's your price point?
I don't have much money to start out with (so far I have about 30,000 saved for down payment+closing costs), but I am continuing to save (and learn!). I know most of the duplexes in this area will be near $1mil, so I am also considering buying a larger SFH and renting out the rooms either in the northern VA or MD area.
Post: STR using the Golightly Platform for Women only
- Posts 4
- Votes 2
I'm curious if anyone has had a lot of success using Golightly to rent out parts of their home as opposed to Airbnb or VRBO? I know it is a much newer platform, and would love to know what folks are thinking (i.e., how does it compare to using Airbnb or VRBO?).
Post: First Time Buyer, Potential House Hacker / Out-Of-State Investor
- Posts 4
- Votes 2
Hi All, I am currently living with my parents and hoping to be able to move out in the next 1-2 years. I would like to buy a duplex in my area (DMV), but there are not many multifamily properties in the area (and the few that are in the area are very expensive), so it would be hard to find a deal I can afford. I am worried about trying to house hack a single family home for safety/security reasons. I have not done much research on out-of-state investing as I am worried about getting out-smarted by professionals who know that area better (I would also really like to find something that I can move into for at least the first year so that I can get out of my parents hair).
I am looking for advice on how I can get started as a first time home hacker in a tough market? Are there other factors that I can consider that would make house hacking in the DMV more doable? Are there safety measures that others have used in SFHs when house hacking to make it feel more secure? Is there anyone in the same boat who tried out of state investing as a beginner and was able to generate some cash flow? All articles/books/podcasts you can recommend for me to learn more about my options are appreciated!