Househacking or Creative RE Ideas?

[Lauren Nolan Sellers]

My kids have the opportunity to attend a great school so we're moving.

I think there's an opportunity here to get creative. Looking for advice from an RE perspective to make the most of this opportunity.

Right now my thought to is rent our primary home as an STR (looking into zoning to see if we can transition it into a duplex-- would be easy with our current layout) and househack into a multifamily (and see if we could do STRs or LTRs then refi and use that as down payment on a new home.

Or we could rent primary residence as stated above and buy another small property BRRR into an STR or MTR refi and then use that as all/part of a down-payment for a new home.

Currently residence about 15 mins from Philadelphia in South Jersey. Moving to Wilmington-ish Delaware. Open to thoughts, ideas, & advice. Thanks!

[Nathan Gesner]

Quote from @Lauren Nolan Sellers:

It's easy to throw out some ideas, but have you really crunched the numbers? You currently don't even know if your current home can be used as a STR, so slow down until you figure that out. If it won't work, what kind of return would you get as a LTR? Maybe it's better to sell?

Before you look at buying, you need to figure out what your current property will produce. Then you need to know what you can afford, then look at what market you can afford to buy in, etc.

It's good you are looking at improvement, but make sure to do the match along the way and avoid over-extending.