All Forum Posts by: John Gallagher

I am 21m, just finished up my Masters. I have a job in tech which allows me to work remotely. I reside right outside of New York City in the Suburbs, but recently visited a buddy that just moved to Denver. While there, the opportunity to house hack in the area seemed like a no brainer to me. Ive been learning all I can about REI over the past few months, from books, reddit, podcasts, this site, etc, and think I am ready to start looking for a first investment.

I love the idea of a house hack model. I do not need much privacy, so I would love to buy a home on the cheaper end of the spectrum with a few bedrooms, and maybe the ability to add a bedroom or two (houses with advertised "bonus room", etc), and then do a rent by the room model to other individuals. I am confident in my ability to cultivate a friendly environment within the house. Pending the right agent to help me look into some options, it seems like a pretty decent way to cashflow in the area. 

I visited earlier this month, and would like to come back once I have connected with an agent to look at some places. If you are someone you know has experience with customers like me, please do not hesitate to reach out. I can be in the area within a few days. 

If you have any tips or feedback on this idea, please let me know! Thanks, John. 

My buddy and I are placing an offer on our first potential buy today/this week. I am 21, just graduated with MBA, no debt but essentially no savings. Entering a cushy / well-paid W-2 job in September. 

His dad will be putting up the money for an all cash lowball offer, to which we are not too hopeful for a reply/counter. If the owner is interested, I would need to get an investment loan to pay his dad back half of what we put into the house. I am not really sure how to go about doing this, if anyone has any tips. Since we are buying the house in cash, can I still get an HFA loan for my half? Do i specify to the lender what the situation is? Is this a normal thing to be doing? My credit score is around 770. 

We plan to live in this house and fix it up, then sell or use it as our first rental property. It is in a neighborhood we are familiar with, and his father has been flipping and renting for 30 years, so we will have a good base of knowledge to go off. We are also reading as much as possible on the topics, though we are definitely Noobs. I appreciate any and all information. Thanks.