This sounds like an amazing discussion! Cash flow vs. equity is such a crucial topic for new investors. Excited to hear their insights on how to start strong in real estate!🏡
If you are exiting a house hack from Silver spring and looking to move closer to DC ( not sure how much closer you can actually get without crossing the dc border ) , there is no need for a management company with that being your only property. You are less than an hour away from the property , perhaps closer if driving , so you should be able to continue to self manage . Just let your tenants know correct their expectations of what you will take care of and what you will not
I am team hybrid. I buy in a class A neighborhoods. I househack for a year. Then I rent the home out as a furnished midterm rental and buy my next home and find roommates again. Will do this a couple of more times. The mortgage is high because it’s in a nice neighborhood.And the income from the midterm keeps up with the mortgage plus extra. 10 years from now, the rents will be higher and there will be a lot of equity in these homes.
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This sounds like an amazing discussion! Cash flow vs. equity is such a crucial topic for new investors. Excited to hear their insights on how to start strong in real estate!🏡
A BPO is typically much cheaper than an appraisal. Look in to it. Mine was only $150
Gota look into it, actually have never heard of it
If you are exiting a house hack from Silver spring and looking to move closer to DC ( not sure how much closer you can actually get without crossing the dc border ) , there is no need for a management company with that being your only property. You are less than an hour away from the property , perhaps closer if driving , so you should be able to continue to self manage .
Just let your tenants know correct their expectations of what you will take care of and what you will not
I am team hybrid. I buy in a class A neighborhoods. I househack for a year. Then I rent the home out as a furnished midterm rental and buy my next home and find roommates again. Will do this a couple of more times.
The mortgage is high because it’s in a nice neighborhood.And the income from the midterm keeps up with the mortgage plus extra.
10 years from now, the rents will be higher and there will be a lot of equity in these homes.
Team Equity 👋
You are lucky your savings account only dropped to 4.5 from 5.