All Forum Posts by: Dustin Moon

I recommend using the find an investor friendly agent. Usually your agent will be able to guide you to lenders that are locally recognized and are experienced in the loans that you want to use to house hack.

Here's my generic advice on house hacking as well. Super excited for you!

Keep/start learning! This can be done through Podcasts, Books, and Mentors you find by networking. Sounds like you're well on your way to doing all of these things.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

A house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Here's a great resource right here on BP:

https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy

Best of luck getting started! Here for you with any questions you have along the way!

Thank you for the quality advice. I actually have been in contact with my financial advisor and will be meeting with him next week to talk over my portfolio. Just bought Set for Life. Seems like my reading list keeps getting bigger and bigger lol.

What's the best way for me to find potential realtors/brokers who specialize in investment properties? I would take a stab at this and say recommendations are probably the best way?

0 Votes

Vancouver, Washington

I will take any recommendations you have and I plan on staying on the Washington side.

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Vancouver, Washington

Ok good to know these things! I was under the impression that I had to get pre approved first.. I just joined my local REIA and I'll do some investigating there for sure.

I appreciate the advice guys!

0 Votes

Vancouver, Washington

I've been reading these amazing books put out by BiggerPockets and my goal is to start house hacking. As of right now my first step has been finding a lender to see how much I can even be approved for. I keep on reading from time and time again that I should visit multiple lenders to see if they are a good fit for what I want to do. So far I have talked to one local lender and started their prequalification process. Here are some questions that I have come up with so far.

1. Am I better off shopping around for local lenders only or should I reach out to big banks as well

2. Should I be getting pre approvals from every lender I come across

3. What questions should I be asking or what key things am I looking for in a lender

3 Votes

Vancouver, Washington

All Forum Posts by: Dustin Moon

Dustin Moon has started 3 posts and replied 14 times.

Post: First Time Homebuyer

Post: First Time Homebuyer

Post: First Time Homebuyer

Post: First Time Homebuyer