All Forum Posts by: Devin Miles

I plan on joining! :)

Hi! I now just turned 20 and I desperately want to get a place of my own! I do not want to waste my money on room and board or on rent. I know the smartest thing to do would be to house hack a multi unit or multi bedroom house. I figure I would want a house around the $300k range because I feel like that would be around the lowest price currently for a house that is suited for this. With that being said if I put 3.5% down with a FHA loan that would be $10,500, plus 2% closing fees ($6,000) and I estimate a 3 month emergency fund to be around $7,500 on the safer end. All of that would be $24,000 total up front cash needed to be ready to make this move (not including any furniture or repair costs if needed). I currently have $9,000 saved towards that goal as well as another $5,000 in an emergency fund. I currently am able to save around $1,000/mo doing DoorDash while going to college. At this rate I would be lucky to have enough money saved up at the end of 2022. However, I do plan on landing an internship in the spring as business analyst which should give me a pay raise and I hope to save around $2,000/mo at that point which could reduce my saving time to less than 12 more months. Sorry for the ramble but I just wanted to put my thoughts out here to see what other people who have experience think. Does this sound like a logical plan? Is there anything I am missing that may speed this process up or slow it down??? Thanks!

@Jaideep Balekar WOW MAN! This is exactly what I want to be doing! It is INSANE how fast you were able to do all of this! CONGRATS! :)

@Matt Lefebvre Loved your input! Thank you! What I really want is a simple duplex but they are so rare!

@Daniel C. Thank you! I would love to talk to you for further advice for my future and maybe we could partner up for some deals so you could show me the ropes?

@James Smith you are a genius! Yup that’s the property lol. Im gonna take a look at the property on Wednesday. I really appreciate your input and wouldn’t mind talking to you more if you were able to. But if I were to live in it I would live in the small unit and rent out the bigger one or possibly convert the 6 bedroom unit to 2, 3 bedroom units.

I do not yet have a connection with someone. I need to network and find someone that could help me through this deal...I live in southern NH

I am 19 looking to buy my first investment property and I found a good deal in New Hampshire. I am not sure whether I should flip it or hold it as a rental property? The house is listed for $350,000 3000sqft 8bed ($115/sqft) comps are selling between $150-200/sqft. Not sure how I will fund the deal...I could possibly come up with the 3.5% if I get a FHA loan. If I flip I know I will need some sort of private money loan. Any advice?