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Updated about 2 years ago,
Good practices for first investment (house hack)
I am moving towards my first investment, and it will be a house hack. I am looking to use this to propel myself into future rental property investments, many of which will not be house hacks.
What will be some of the main differences between a regular multi-family rental investment, and one that I am house hacking.
Also, are there any good practices I should implement that will pave the way for future investments, that won't be house hacks; Otherwise, any practices that will at the very least prevent me from creating bad habits, systems, business model, etc.
I will give an examples of some advice I have already received. I have been told that when house hacking, you should "pay yourself rent". This more accurately mimic what it will be like when you eventually move out.
Please, let me know if the question needs to be better articulated.
Thanks!