All Forum Posts by: George Hausmann

I would say if you don't own, house hacking might be your best bet for your initial investment since you are netting back the money would be burning on rent. It can be a great opportunity even if you don't keep investing in the same asset class you utilize for the house-hack.  I'd also suggest regardless of your path, you choose one before moving forward seriously or you'll get overwhelmed evaluating deals in different markets/methods and miss a great opportunity. 

Hi all,

I'm looking for a contractor that can handle a full bath remodel and some kitchen reno (cabinets & appliances). Any recommendations would be appreciated!

Hi all,

This meetup exists to share knowledge, connect, and help REIs in Northern Virginia!

Hi all,

Thanks so much for reaching out and my apologies about the delay! 

@Russell Brazil I was considering an FHA loan as I might not have the capital for a 20% down payment. Do you mind elaborating on what it wouldn't be a good idea? I've just always heard it touted as a fantastic option when one has limited capital. Is it the point that Adrienne references re: 3.5% conventional loans?

@Adrienne Green Exactly, I've got a lot of experience living in SFH or TH group houses, including ones that were owner-occupied. I'd be looking to get started with that route. I'm looking at Baltimore, Rockville, Silver Spring, etc. but would also love advice on any particular area you think is conducive to housse-hacking.

Please see below for my biggest questions.

1. Do you have advice in terms of determining rents for individual rooms (I realize this is a bit more of a landlord oriented question). I've got a lot of experience with DC rents, but not the surrounding areas. I've been looking on craigslist narrowed down to specific neighborhoods I'm looking at, but with the variance it's hard to judge. That has been problematic for me since the spread is big enough to make the different in how good of a deal the property would be, if that makes sense. I.e . if there is a house with 2 extra bedrooms that would be renting for $700 vs $500, that could make a huge difference at the price points I'm looking at.

2. Do you all think house-hacking might be too challenging in the COVID envrionment, specifically re: filling the spare rooms?

3. Do you have any advice in regards to beginning to work with lenders to get pre-qualified and find out more about the whole process? My question or concern here is that as a first time home-buyer I definitely need more information in this regard, but am hesitant to get pre-qualified since I might not be in a position to buy by the time that pre-qual expires and I don't want to ding my credit score unnecessarily. Is this a ridiculous concern or what would be the best approach here?

I'm sure I'll have more questions, but thank you so much for taking the time to respond already!

Hi all, 

I've been following BiggerPockets for a while now watching podcasts, webinars, reading guides and recommended books. 

I've accumulated enough capital for an FHA loan and have lined a partner willing to do some hard-money lending. Specifically I'm looking to buy a house-hack property in the next 3 months or so and would love to connect with more experienced investors in the area who might be able to offer me advice and network. If anyone would be willing to answer some questions or provide advice, please let me know.

I'm looking forward to connecting with all of you!