Beginners Guide to House Hacking
Posted by Merrill Jencks on Monday, December 13, 2021 at 11:18 PM
By Merrill Jencks / December 13, 2021
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Beginners Guide to House Hacking
Have you heard of house hacking? It's basically where you buy a home as your primary residence, live there for a year, and then eventually turn it into a rental. There are some huge advantages to doing this, namely, you can put less money down and start building your rental portfolio, and secondly, you're going to get an even better interest rate because it is your primary residence so house hacking is a great way to get started in investing in real estate especially.
If you're not in a spot where you're completely tied down and don't have the ability to move if you don't own a home yet or you are thinking about getting into the market I highly recommend looking at house hacking
What does this mean to you? If you're even a little bit interested in learning more about participating in the Phoenix housing market as a seller, buyer, or investor... you NEED to know this stuff! Or at least work with someone who is obsessed with the market stats. Reach out to me today so we can start working on making your real estate dreams a reality!
Check out these other market updates!
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The Home Inspection Process
After your offer gets accepted, you’ll have an inspection period. This is your opportunity to have a licensed inspector canvas the home looking for common issues prior to moving forward with the home purchase.
The Appraisal Process
Once you are under contract, your lender will send out an appraiser to verify the purchase price is in line with the property’s value. Here are the two most important things to know about the appraisal process.
Homeowners Insurance
A homeowners insurance policy will protect you against certain losses and damage to your new home and is generally required by lenders prior to closing.
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2. Does your agent own investment property?
Buy and hold vs flipping a property pros and cons
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There are two different ways to make money in real estate. One is by buy and hold, which means you buy a property at market value, keep or hold it for the long term, and sell it when the timing is right. The other way is by buy-and-flip investing.
In this video, I go over some pros and cons of each strategy so that you can decide which one might be best for your situation!
In this video, I cover the pros and cons of investing in a Buy and Hold strategy vs. bu
How Much Money Down Do I Need to Buy a Rental Property?
How Much Money Down Do I Need to Buy a Rental Property?
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The amount of money you need to invest in a rental property is the down payment. The more money you put up front, the lower your mortgage payments will be over time because you're borrowing less. If your goal is to protect your investment and build wealth, then it might make sense for you to put 20% or mor
Beginners Guide to House Hacking
Merrill shares his beginner's guide to house hacking.
In this video, I’m going to demonstrate how you can use house hacking as a strategy for investing in real estate. House hacking is the process of buying an investment property and living in it, then renting out rooms or units on Airbnb, and using that income to help pay your mortgage and other costs.
House hacking has many benefits: It's much easier than trying to find a tenant; there are tax deductions for your rental income; if you live with roommat
What is hard money lending and how can I use it to buy investment properties?
What is hard money lending and how can I use it to buy investment properties?
In this video, we're going to explore what hard money lending is and how you can use it to buy investment properties.
Hard money is a type of financing that's used by investors who are looking for quick cash but don't want the hassle of dealing with traditional lenders like banks or mortgage companies. The term "hard" refers to the strict requirements that go into getting approved for these funds. This includes proof of your in
Is it good to buy a rental home with solar or a pool?
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Solar panels are also a hot topic.
In this video, I will teach you about two different strategies for investing in rental properties. My goal is to help you make an informed decision when it comes to buying your next property!
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-Is
What to look for in an Investment Home?
Merrill shares his list of what to look for in a rental home or investment property.
There are a few key features that we like to look for when we are buying long-term hold properties. One of those things is a home that doesn't have very much carpet. All of the living areas should have some kind of hard flooring. Carpet can tend to look old and worn. Another big one is for the home to have a newer air conditioner or roof. Both of these repairs can cost a pretty penny, so I want to avoid anything that will
Real Life example of Purchasing a Rental Property and its Cash Flow
Here is a real-life example of purchasing a rental property and how it has cash flow.
Investing is one of the most popular topics on youtube. But there's not much out there that shows real-life examples of what investing in property looks like. I'm going to share an example with you today, and then break down how this investment would work, so you can see for yourself if it's something worth considering!
Purchase in my market; or others?
Should I be purchasing in my market or looking at other markets?
If you’re curious if you should be buying in your primary market or possibly in another market this video is for you.
How do you know if you're ready to invest in real estate?
How do you know if you're ready to invest in real estate?
Are you thinking about investing in real estate?
This video will help you figure out if now is the right time for you to get started.
Do you need cash to buy investment properties in Arizona?
Many times our clients ask us about buying investment properties and they want to know. Do you need cash to buy investment properties in Arizona?
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480-466-6320 Merrill Jencks
How many mortgages can you have?
How many mortgages can you have?
How many rental properties can you have?
Are you wondering how many mortgages you can have?
In this video, I'll share the number of properties that are allowed to be financed by a mortgage. And I'll also discuss some other factors that can affect your ability to finance more than one home.
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Website: https://merrill.bighelpergroup.com/
480-466-6320 Merrill Jencks
How to Find Funding for Your First Investment Property
How to Find Funding for Your First Investment Property
I'm going to share with you a little bit about how to find funding for your first investment property. This is a really important step in the process, and it's one that many people overlook or don't know where to start.
In this video, I talk about some of the different sources of financing you can look at when looking for ways to fund your next deal!
You are going to want to start by speaking to a lender to find funding for your first investment prop
Did you know that you could buy up to a fourplex with as little as 3 1/2% down.
Did you know that you can buy up to a 4plex with as little as 3.5% down?
How to get out of a Real Estate Contract as a Buyer
When you're buying real estate, you enter into a contract with the seller. While it is a legally binding contract, there are still ways to get out of the contract. As the buyer, you have multiple opportunities to cancel the contract and get your earnest money back.
If you want to learn more about buying a selling real estate in today's market, make sure you follow me on Instagram and Facebook at @merrilljencks and @bighelpergroup.com. If you live in Phoenix, AZ, and want to make some real estate moves, se
It's NEVER too early to speak with a lender!
If you're thinking about buying a house but maybe you're six months or maybe even a year out before you're actually planning on taking action on purchasing a home. I think it is absolutely critical to begin speaking with a lender right now. Lenders can get your credit pulled now and I know you might be thinking, "oh I don't want my credit pulled because I'm not ready to buy and I don't want my score to drop" but here are the thing lenders can give you specific strategies on how to improve your score betwee
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