All Forum Posts by: Louise A.

@David Carbajal

Absolutely possible if you're looking to move to NC!  And yes, I thin you could do the 1st time buyer thing if your name isn't on a mortgage yet.  The mortgage company is the regulator.  If you don't live in the property for a year, you're committing fraud which I wouldn't mess with if you want to buy more property in the future.  PM me if you have other specific questions.  

@Nadav Segal

I would look seriously at Windsor Park if you can find something that cash flows.  The closer to the interstate and 10th street the better.  Beech Grove is very safe as well.  

@Christian Allen

Definitely no requirement to pay off the HELOC after you move out of your current primary. I put HELOCs on everything I live in because the LTV is so high. I then use the HELOC as I choose after I move out. PM me if you have more specific questions.

@Olivia Jones

Hey!  I'm not in your area, but just wanted to give you some encouragement.  Your plan sounds great!  I'm house hacking at the moment and happily living for free.  You can't beat that....  Let me know if I can help with any specific questions you might have....

@Heath Larto

Are you asking whether you actually have to move into the property to get the good 'owner occupied' financing through the VA? The answer is yes. If you don't move in for the required time (1 year?), then you are committing mortgage fraud. I have heard of mortgage companies checking on residency. Of course the likelihood of getting caught is low, but in my opinion the risks are too high.

@Gustavo Munoz Castro

Hey!  I own several duplexes in Indy and no single families.  It was definitely the right decision for me because it allowed me to buy in better areas (more rent coming in from the 2 units vs. 1). Let me know if you have any specific questions or have questions about areas.  Location is key!

@Ivan Barratt

Nice work!  I looked at these when they were listed and they look like lovely properties.  Can't wait to get the update the next time I see you...

@Brian Wilson

I think that the VA loans have low down payments and great terms, right? That would be a great option for you. The only thing I'd be worried about is that buying in CA might be too expensive to make the house hacking work. Have you run any numbers on that yet?

What about trying to recreate your current situation and finding a nice rental (or stay in yours) and have roommates come in.  Our getting a 2 bed 2 bath place and using AirBnB to rent out the other room?  

You're definitely in the right place to post your questions.  Good luck!   

@AL-Teef Jones

One other benefit that hasn't been mentioned is that if you disclose you're the owner, you'll get better tenants.  Bad tenants do NOT want to live beside the owner of the property.  

Just don't become friends.  

@Ricardo Cristobal

For most of us this isn't a 'get rich quick' scheme.  Real estate builds big wealth over time, and is often slow.  I did a property a year for 4 years when I was getting started and felt like a tortoise compared to others in this community.  But 6 years later, I have 80 units.  Growing too quickly can cause you to make mistakes too.  Don't get discouraged.  You're living for free!  Awesome start!  PM me if I can help in any way.