All Forum Posts by: Hannah Noble

@Twana Rasoul Thanks for your input! I agree I think house hacking would be a great start to my REI journey. It's good to hear that you have had success with it in SD being that it is a similar market to Orange County price wise. What kind of property is your house hack in SD and what would be some good advice in finding a good property where the numbers works.

Hi, my name is Hannah and I am new to REI. For the past few months I have been educating myself and soaking up anything I can. I know sometimes getting started and pulling the plug is the hardest part. I want to be able to start my REI journey soon. Right now I am saving up and trying to get pre-approved so I know how much I can afford. I currently live in Orange County in Southern California, which is a very expensive market. As a newbie I wanted to start out east just to kind of get my feet wet as I'm still learning. I was wanting to use the house hacking method on my first investment. However, being such a high priced market I know that most likely there won't be much to any cash flow here. This isn't a make or break it factor for me, especially it being my first. However, I was wondering what more experienced investors opinions are on being a newbie REI and doing a house hack in an expensive market versus doing a multi-family rental property out of state in a cheaper market with more cash flow. I know there are pros and cons to both, but curious to hear what others have had success in and possibly in what markets if they are doing long distance and of course taking into consideration everything that is going on right now with COVID.

Thanks!!

@Brandon Carlson thank you! Agreed I think looking in areas around colleges is a great idea too, students will always need housing and parents will pay extra for clean nice homes for their kids. Glad to hear you have had success in this as well.

@Joe Homs those were some of the areas I was thinking as well, thank you for your help!

Thank you @Joe Homs that is a helpful breakdown! Agreed, it will all depend on location and price if I can make my deal work, might just take a little more effort in this area. Any areas you recommend looking?

@Kyle J. Cooper Thank you! That is the plan right now saving and then and lowering my cost of living till I can find something that works and makes sense. Very true I am guilty of over analyzing and overthinking, it's more simple in some ways than I think. 

@Tyler Hungerford yes I am doing this for the long haul, especially in this area I may not make much cash flow, but at least if I could get most of my mortgage payed down and have that long term appreciation building. I am open to being creative in the area.

@Jared Baumer Thank you! Agreed, great place to live but difficult to try and find a deal that makes sense! I am pretty open right now to where in Orange County I am looking, but possibly Santa Ana/Orange/Anaheim area. Those areas have a larger spread of low to higher income housing.

Hi my name is Hannah and I am new to real estate, currently have a 9-5 job, but am looking to start my journey to financial freedom. I have been doing a lot of research and education on real estate investing.  I thought starting out with a house hack would be the best way to start and get my feet (I read Craig Curelop's House Hacking book). However, I live in a very pricey market (Orange County, CA) and am not sure if this strategy would work as well here. Has anyone had success in this area with house hacking, either a single family or multi-family? If so any tips or ideas on how to begin this process in Orange County?

Thank you!