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Updated over 2 years ago,
When running numbers for a house hack
Hi guys,
I am searching for a house hack in my area. When I run the numbers to see if it cash flows, should I run it while I am living there or if I should run it like if I wasn't moving there, (like when I move out eventually). Because I have ran numbers on properties without me living on the property and none are good cash flowing properties initially.
Also, for my 1st rental property and house hack, do you guys focus a lot on cash flow by the way? I've been told for a house hack and me living there for a few years, it is more of a long term growth. Which my CoC would be positive in 5-10 years. But would start off in the negatives pretty well. Curious if I should have a different mindset when house hacking on my CoC, ROI, and cashflow. I like to live in a good neighborhood where crime is low which where I live my cashflow will suffer. Seeking any advice an have with their previous house hack and how it worked out for them with there cashflow, ROI, and CoC. Thank you.