DSCR Loans: The Shocking Truth About Qualifying Without Income—and Why It Could Make or Break Your Next Investment Deal
Tony:
Same here, not expecting any cashflow, but at least his housing costs would be similar to renting. The concerns here are pretty similar. The landlord laws in la, potential headaches himself managing, and then just also if he does move out, it’s not going to cashflow, it’s going to be cashflow negative. Option number three is the out-of-state rental. So goal here is to get skin in the game sooner by buying a cash flowing property elsewhere. He would definitely get a property manager concerns here. Remote investing as a beginner is at higher risk. And then the fourth option is just to house hack anywhere, right? So he says, because I can work remotely, I could find a market that has a profitable house hack, get great financing, just spend a year or two somewhere that I may have no desire to live. Now he goes on to say that he’s got this hybrid plan of continuing to research out of state markets and act if a great deal happens, maybe move back to LA live in Airbnbs to get a feel for the neighborhoods and house hack once he finds a great deal. But would love to hear from those who have house hacked in maybe high cost living areas started with out-of-state rentals. So again, a lot to unpack here for Steve, but I think the first thing is again, congratulations. What a great starting spot to be in to have that amount of capital, the flexibility with your work. The options are really up to you. So what are you hearing, Ash? What’s your first thought for Steve?
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