Updated almost 3 years ago on . Most recent reply
House hack a condo near San Fernando Valley
I want to know if this is a good time to house hack a condominium ( >2Bed, 2Bath) in San Fernando Valley given the current market state and the interest rates? I tried to run a rental property report, using the estimated value of the property and the rent charged per bedroom in the locality and a conventional loan and I cannot see making a profit if I house hack the other bedrooms? Are there any one else in Socal who is looking into investing in househacks in this locality?
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Look at it this way: Would you be losing less money by doing the house hack than you would living where you are currently living? Now is an excellent time to house hack if the house hack lowers your overall housing cost compared to the alternative, even if you aren’t making money on top of the savings in housing cost.