All Forum Posts by: Nazanin Boojar

Hi all! I recently asked a question if I should house hack (in San Diego) a condo to get started now (I'm 22) OR should I wait until I have enough to buy a house and house hack a house? 

I only have 50k saved up now which can get me a condo, but would probably need to wait another 1-2 years to have enough to put a down payment down on a house + have enough reserves 

I'm only considering trying to get a house instead and wait because they appreciate more over time and there's more room to add value down the line - I can add an ADU to a house and won't ever be able to do that with a condo...please let me know your thoughts!

I finally bought a home with a finished basement and separate entrance to house hack. I was a cohost renter taking care of air bnb and vrbo and it was doing well and when the landlord said the rent was going to be $2900 I decided we needed to buy a house to do the same. I was hoping we would do well as we are really close to a lot of stuff. 5 minutes from University and Childrens hospital, 16 minutes from the airport. We are 25 minutes to downtown Denver. We will have a kitchenette with a good size toaster convection oven, insta pot and microwave. Plus a good size fridge. No stove. I guess I noticed air bnb and vrbo slowed down sooooo much at our old place. I am wondering if that will be the same for our new place. It is bigger with more amenities. I don't want to do long term rental. I would be open to travel nurses but everything I read is they are not interested unless there is a full kitchen and laundry room. 

The back yard may be closed off as we have a lot of work to do out there and the laundry room is in a room but has a bit to finish that room and we thought we should close that off until we can fix it up.

We haven't listed as we are still finishing it up. I hope to get photos done next week. 

My question is where the best platform is to post or maybe two platforms to post for our situation. I also red about direct booking is this a good route too. I would love to fill it up but that seems impossible based on the booking trends I have been reading about. Suggestions! In Aurora/Denver near Central park.

Hello everyone, I am a new investor who purchased my first rental property a year before this post. I purchased a upstairs/downstairs duplex for $125k. I rented out the upstairs for $800 a month, and occupy the downstairs. Since I have owned the property I have put a new roof on it ($18k), all new stainless steel appliances ($3k) and new landscaping ($2k) the driveway is suppose to be done for ($1.5k) here next month. That is about 25k in upgrades, and increased rents about 30 percent from previous owner. SO my question is, WHAT IS THE BEST EXIT STRATEGY. From reading the guidelines I see that I need 20-25% equity to refi. Which means it needs to appraise for 35k higher than I had just bought it for. How feasible is that? Should I refinance into a conventional loan OR should I refinance into a investment loan such as DSCR. Also when I go buy the second property, will FHA let me do a new loan with it being my 2nd mortgage... If anyone has input on this let me know, I am going to get ready to start the process but if you have experience in a similar situation I'd LOVE to hear it.

I live in California looking to househack in Texas. FHA requirements say I need steady income in the other state to be approved. Do I just find a job after finding a good deal or should I just get a job in one city and look for a deal in that city? Thanks in advance for any replies.

@Nazanin Boojar, I appreciate your information about considering SFHs instead of condos. Also, not a bad idea to find a cheap place and rent a place myself while I rent out my SFH, unfortunately I am trying to get a low interest loan which I believe requires me to be an owner occupant. Regarding the Caprates you are getting, are you by chance using the Bigger Pockets Rental estimator and would you be willing to share one of your analyses? I just want to make sure I am getting all the numbers correct. Thanks
 

@Ryan Thompson, great tips, i'll be sure to check all that out!  

@Ryan Thomson

@Nazanin Boojar - you can find a SFH 9 CAP in Anchorage? I'll pay a finders fee - doesn't exist. (and before someone shows me a burned out foreclosure for $100k... incorporate real vacancy and CAPEX into your pro forma...)

any tips on good areas to house hack in Indiana. Im just south of Indianapolis

 Right, I guess I should clarify that when I run numbers for house hacking I am only including the expenses from the second unit.  The expenses for the unit I would live in I take as a cost of living.  Units rent for $750 but market is closer to $900.  My mortgage would be about $1,500.  Separately metered and tenants pay all utilities.

Hi everyone! My name is Morgan and I am new here on BiggerPockets. I just finished the book "How to Invest in Real Estate" and am excited to join this community! I am leaning towards the strategy of house hacking, and hope to buy a duplex, triplex, or quadplex in the coming months. I am located near Richmond Virginia! I look forward to connecting, learning, and networking with each of you! 

Hi Everyone!

I am moving to Indiana for work and looking to house hack. I don't know much about Indiana and never really visited. Looking for guidance on which areas to look into for multi family properties. I am also open to talking to agents who has listing. Any help is appreciated.