All Forum Posts by: Peter Buccowich

Hello!

I'm a recent college grad looking to start house hacking in the next 6 months. I looked at Duplexes/Triplexes but found trouble finding MFH work given how much money I have (limited to $30k down), so I pivoted to looking at SFH, specifically 4br around $230k range.

The trouble is I have no connections where I just moved so I can't get my friends to rent from me, which leads to my questions:
For those who have rented out on a per room basis, did you find that the rent per room dropped significantly compared to if you rented all rooms out in one unit? Where I live, there are no basements or any clear way to separate a SFH into multiple units. Generally speaking, is it worthwhile to buy a SFH to house hack?

Thank you all so much! All feedback is appreciated.

(Including if you know how to get rid of all these numbers! They don't appear in the edit panel!)

@Richard Helppie-Schmieder Thank you for reaching out, I'll shoot you a PM! 20% sounds better than 6%

Rob, thanks for the advice. I'll keep it in mind. It might be an issue with setting my price too low and not checking regularly enough. Since I'm not planning on purchasing for another 6 months I'm not looking at deals daily nowadays. I may also just need some more capital to be competitive in my targeted range.

Thanks!

 Thanks for the reply. Yes, it might be a bit confusing but I would be paying myself the rent for the unit I'm living in and including that in my calculations. The idea is in 2 years when I move out, the investment will make more sense. So no, I'm not trying to get cash flow while not getting revenue from half of the duplex. 

Do you mean $200,000 - $300,000 is tough because there are so few multifamilies on the market in that range or because multifamiles in that range are less likely to be deals?

And I'll be sure to checkout areas a little more north and south like Mansfield and Irving as well. 

Thanks!

Hello everyone, 

I recently graduated from college and moved to DFW for the first time to start my first full-time job. When the pandemic hit, I found myself with a lot of free time and discovered real estate investing and BiggerPockets! Despite my excitement, I've been struggling to find any deals after months of searching. 

Some background:

My plan moving down here was to save money aggressively for a year and then buy in June - July of this year a duplex/triplex/quad to house hack in the Grand Prairie/Arlington area, somewhere in the $200k - $300k range. I'm looking in Grand Prairie/Arlington since it offers me a reasonable commute to my job in Grand Prairie without the higher costs for homes the closer you get to Dallas or Fort Worth. $200k - $300k seemed like a range that I could afford to put 20% down on without going so low I'd worry about crime or my wellbeing living there. Because I only just started working, I figure that prioritizing cash flow will be safer than relying on appreciation for a property that barely cash flows. 

I've given myself a few advantages since I'm new and don't feel like I need a home run on my first purchase, including ignoring forgoing property management and willing to settle for as low as 6% COC ROI since I intend for this to be more of a learning opportunity.

Despite this, I can't seem to find any deals that make sense, which is frustrating since every website in the world lists Dallas or Fort Worth as some of the best places to invest in in the US. Are my criteria too strict? Is it because the market is so hot right now? I'm also trying to avoid any major projects on my first home purchase. Here are my criteria condensed:

• Arlington/Grand Prairie region
• Duplex/Triplex/Quad
• $200k - $300k
• 6% COC ROI

It's also a possibility that I am misjudging costs for the area. Here's something that meets my criteria I threw together as an example, and here's the property on realtor.com. I would love to hear what you think I'm doing wrong. I'm new so all feedback is appreciated!

Thank you,

Peter Buccowich