All Forum Posts by: Jabbar Adesada

@Eric Nelson

Congratulations I’m glad this worked out successfully for you

@Fahadbin Alam

Congratulations on already being in the game! I am in a similar position as you, I'm 19 and not receiving BAH, but I will be closing on my first deal (a 5bdr SFH) in less than 2 weeks (knock on wood) if you have a lot in reserves, find a house hack where you live for free and possibly Cashflow and are committed to growing as a real estate investor I don't see why you can't use your VA loan and to get into another property. Just make sure your command is fine with it, you have a solid plan (especially when you get deployed!!), and you have a lot in reserves to weather the storm of a worse case scenario. Keep learning and seek advice from other house hackers and investors in the forum it will really help speed up that learning curve.

Hello all! I am currently working on my first deal which will be a house hack and this is a basic question, but what exactly should I be using maintenance/repairs for? Should half of my budget (5% of the totals rents) literally go for repairs and half for lawn care, cleaning, bug service etc. I am house hacking a SFH. Or should I budget for the maintenance side separately? Also when budgeting for vacancy I'll be setting aside 10% of the total rents which my numbers show will be 3.5 months of PITI a year, assuming I have 6 months of reserves specifically for vacancies at all times and only 2 months of actual vacancy would I take the remaining 1.5 months of over estimated vacancy as pure Cashflow?

@Katie Greenman

I just turned 19 and I think it would be wise to max out your Roth IRA and contribute the match to your employer 401k and then invest the rest in real estate. Diversification is important and your youth is the best time to take advantage of these tax advantaged accounts. I personal do and will continue to max out my Roth IRA and I'm closing on a house hack next month. A strong financial backing is important when building your wealth and being disciplined will only make you a better investor.

Thank you! Now I understand.

Awesome Thank you so much for this information. My only other question is if I buy a SFH as a primary residence and lease out the other bedrooms showing a profit greater than 2x all fixed expenses. How soon will I be able to use the lease to cover the primary residence debt so I can buy an investment property also? Assuming of course I have 6 months of reserves for both properties and I qualify with everything, but DTI.

@Suvir B.

Great Analysis!

@Andrew Postell

Hi Andrew, I have a completed unrelated questions. If I were to own a property as a primary residence for example a SFH and have leases on the other bedrooms. Showing my agency debt being covered 2x by the boarder income I was receiving would I be able to have the debt excluded from my DTI when I house hack the next one a year later? Also I would have 12 months of bank statements showing the rents that I am receiving along with 1 tax return.

@Tyler D.

You could probably invest in someone else's syndication and possibly beat the stock market. A 7% ROI I believe is pretty easy to beat in real estate. Also a good turnkey provider might be the way to go. Being the private money on someone else's deal is another passive way to invest. The faster you turn that money in a year the higher your return will be. Good luck I think your approach has a lot of benefits and downside so I would look and see what you are comfortable with.

@Jerryll Noorden

Hey, Jerry’s thank you this is actually helped a lot