All Forum Posts by: Timothy Cavalieri

I need help!

I’m stuck between choosing where to live while maintaining my same job in Austin, Tx. I want to keep this same job because I’m in a really good spot and I know I will be successful.

I can move back with family to save money on rent expenses. This will help fast track me to saving more for my first house hack. This will be about 1.5-2 hour commute to work. I’d pay a small amount for rent and groceries ($200-$400). Factoring in tolls and gas I’d be paying around $200/ month. I’d be saving an extra $700-$800 / month.

Or

Stay where I’m currently living. 20-30 min drive from to work. But paying around $1100 for rent + utilities. $200-$300 / month on groceries. Might give me more opportunities to interact with people at work for outside work events. Also save around 3 hours in my day and not have to wake up as early.

@David Call thank you for the advice! This definitely will help my decision a lot! I will make sure to be patient and do my due diligence before investing

@Jordan Moorhead I definitely agree with you! That’s why a big let of me is not wanting to conform to society’s standard of this w2 life. Having control over my work and my own destiny is the life I want to live!

@Rachel Morrow thank you so much! This has been extremely helpful!

@Timothy Cavalieri

Also would going through a private lender help me to get around this if I went with the 1099?

@Rachel Morrow

Thank you so much for the feedback Rachel! I can’t believe how relatable your story is to mine too. That is very helpful! I’m definitely still on the fence if I want to go with a w-2 or this performance based job. It’s a tough decision I still need to put some thought into.

I have had 3 part time jobs that are w-2 so I wonder if those could be considered or if they have to be full time?

@Jordan Moorhead Thank you so much for the response Jordan! This really has helped me boost my confidence with my decision. How has it been for you being a real estate agent and being paid based off of performance so far? I’m planning on going into insurance which is a different field but a 1098 as well. It’s a bit scary not going in with benefits or security, but I know I can do well in that type of environment.

@Gaetano Ciambriello thank you for the help! I’ll definitely consider that.

Hello everyone!

I really want to get into house hacking as soon as I can! Reading real estate books and joining the BiggerPockets community turned me on to the idea of becoming financially independent as fast as I can. Being able to have the option to work! That’s the DREAM!!! As much as I want to rush this, I know it is a gradual process. I need more knowledge and funds before starting. I just need some advice on where to start once I’m in a stronger financial place.

A little back story about me. I’m about to graduate from UT Austin debt free. I did a 180 on what I wanted to do career wise (pre-med with a major in biochemistry, business minor) and want to dive into real estate investing as fast I can! I know that I need to get some more funds first.

What lenders would you recommend going to? I am wanting to use an FHA loan to start my house hacking. However, I've also considered getting a USDA loan for a houses hack in one of the suburbs of Austin. I'm interested in either a multi family house and single family home! Which loan would you recommend?

I also had a another question about a different subject. I’ve been offered a position for a 1098 job. In the book ‘Set for Life’ by Scott Trench he recommends going for a scalable career. However, I know it will take a minimum of 2 years before I can qualify for a mortgage loan so they know I have a stable income. Do y’all think I should wait this long?