All Forum Posts by: Gloria Wong

@Gloria Wong

Your strategy sounds great to me. Housing hacking the way you have described is a great way to get first time investors into the real estate business by giving them experience with property management, cutting down their living expenses, and also giving them access to primary residence financing packages which are often better terms than investment property financing. 

Hey @Gloria Wong - I actually work with a lot of househackers and am a househacker myself. 

I have an idea of where you're coming from, I'm an investor and broker in NYC. I recommend checking out my "Can I Househack in NYC" Youtube video (YT channel: ClosedByMo)

Great that you're thinking of using FHA (it's what I used as well), with a commute time of 30-40 min, it helps us narrow down areas in Brooklyn, Queens, and Bronx - depending on what your long term goals are (just buy & hold, sell in a few years, hold/refinance/buy again, etc.) I'll recommend certain areas over others.

For example, did you know that GOWANUS in Brooklyn was recently approved to adopt a 421-A Tax Exemption alternative? Property prices around there are now going to appreciate faster. 

Please reach out at my contact info in my signature below, I sent you a message as well. 

P.S. I've worked with other nurses, PAs, and doctors. Your hospital network may be able to get you access to a 0% down *conventional* mortgage. 

P.P.S Thanks @Shawn Mcenteer

Hi @Gloria Wong my go to for everyone REI in NYC @Mohammed Rahman He really knows investing and has all the connections you'll need to get started. 

Your plan is great. This is the top recommended strategy for people who are looking to get into their first real estate deal. 

The strategy is called "house hacking." Search the forums and the internet for this term. You'll find a ton of really great content that will help make sure you're prepared.

@Gloria Wong

this is a good plan.  based on your commute time I would think you could look in CT, NJ and NY.

talk to multiple lenders (free).  look at lots and lots of places (also free.)

good luck and ask any follow-up questions you have.