All Forum Posts by: Madison Sloan

@Jaycee Greene Thanks Jaycee! That property looks fantastic actually, I think sorting out the budget would be our biggest challenge. Do you think it's better to start sooner with a cheaper property to get in, or potentially wait longer to save more? 

@Julia Lyrberg Thank you Julia! How would you research a potential market? Where do you find details on prices, demand, cash flow etc? 

@Jaycee Greene Price range probably up to 350k ish 

@Jaycee Greene Hi! We are open to MFH but depending on the market we pick they are less common in certain parts of Idaho. Currently our favorite idea is a SFH we can convert to an up down duplex by sealing off a staircase with an ADU on the property for us to live in. Maybe adding a camper spot as well? Aiming to maximize cashflow to fund future investments, but as newly weds rent by the room doesn't feel practical right now.

My husband and I are approximately 6-12 months out from executing on our first real estate purchase. We have about 1/3 to 1/2 of a down saved at the moment, have a 755 Credit score, and are feeling good. We plan to spend the next 6-12 months continuing to earn and save, as well as nail down a final market we want to househack in. I have a few questions. What would be your 6-12mo out to do list? What are some important pieces we need to be working on now that we may not have thought of? Do any of you invest or have contacts in the Salt Lake City area or North Idaho? Potentially interested in surrounding markets. Thanks for any and all advice and thoughts! We also love podcasts so if any specific episode of the BP shows come to mind let me know! 

@Lucas Hannon Congrats on walking this path! I am in a similar stage as you - working towards my first deal. I would recommend reading The House Hacking Strategy by Craig Curelop if you haven't already. The books explains the steps you need to take extremely well and I have been able to glean a lot from the book! I would also encourage you to keep building up cash reserves, you're going to need them. 

 Hello! Not sponsored or anything like that but Biggerpockets does have a book on househacking! It's called The House Hacking Strategy by Craig Curelop. I can't recommend the book highly enough! Step by step plan to purchase your first house hack. I am using it as a roadmap to purchase my first right now! 

Hello, I am a young adult looking for my first investment property. I have been following BiggerPockets, reading books, watching videos and webinars, and listening to podcasts. While I am not ready to invest yet, I am beginning the next step in my education by analyzing deals and watching the market while simultaneously networking with local agents. 

Maybe this is a rookie question, but how should I assess a listing say on Zillow, Marketplace or Craigslist? How can I determine what it may rent for? What is a good purchasing price? Why are two houses with different bedroom counts the same price?  How can I determine in advance what rehab costs may be? Is there any way to project future appreciation? I know location, land, jobs nearby, and so much more affects these questions, but as who has only done research thus far and not actually looked at my market it all seems very overwhelming. How can I sharpen my ability to read, understand, and analyze the Real Estate Market I am in? 

Thank you so much!! 

Hello Everyone,

I am a young adult looking to start my first house hack. I live in a small rural town in Idaho and there are few if any multifamily properties (Imagine a country western movie from the 50s and that's where I am). What are some unconventional house hacking ideas that I could try with a SFH? As a young single female I am not interested in rent by the room, but I am willing to be pretty flexible and creative. I would be especially curious to hear from anyone in Idaho!

@Anisa Graham Thank you! Your response was very encouraging. I am not as familiar with monthly insurance and other costs. Would you be willing to elaborate on what other costs are involved with the FHA loan outside of simply the mortgage payment each month?