All Forum Posts by: Account Closed

Hi Devin,

Being in a similar position, you have to work and save some capital up. Cash is king, and obviously deals can't be made without money. Limit your expenses to those that are necessary, and be mindful when spending. Try and find employment within the real estate industry, be it a paid internship or a full-time job. This will give you some capital to save up, and also afford you the opportunity to really learn about the industry!

Congratulations on the deal Steven! What kind of rents do 1-2 bedroom units get out in LA? 

Hi Terry

As a landlord, it is always useful to have storage. Ideally, allow the tenant to move in their appliances, as this will damage and wear down their appliances instead of yours. In the meantime, store yours and preserve them. Try and work out some sort of moving/storage fee with the tenant, as this is an unusual/inconvenient request. 

Hi Mitch,

At the end of the day, a house hack is meant to generate cash flows strong enough to cover your mortgage payments, and allow you to build equity over time. From a financial perspective, a good metric to use when selecting a market is the ratio of median home price to rent price. This a general but useful way to assess a larger markets rentability. Based on what your interests and preferences are, it sounds like your best bet is to find a suburb ~30 minutes from a major city. This will allow you and your girlfriend to avoid the crazy traffic, and still attract commuters are tenants.