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Updated about 1 year ago,
Looking to start house hacking with a multifamily in a different state
I have the down payment ready for a 5% conventional loan and am pre-approved for roughly $550k.
My goal is to move out of my current SFH in Utah, rent it out for about $3k/month (covering most expenses), and move into a multifamily that has enough renters to cover expenses or even cash flow. The more cash flow the better.
I have a wife and a son, so I need a low COL area to get enough space to make this work.
I've looked at properties like this:
https://www.zillow.com/homedetails/722-Rocklick-Branch-Rd-Ch...
And this:
https://www.zillow.com/homedetails/4023-Floyd-Blvd-Sioux-Cit...
I'm wondering where I can go in the entire U.S.A. that would maximize my cash flow at roughly my price point, keeping in mind the above factors.
My goal is to move out of my current SFH in Utah, rent it out for about $3k/month (covering most expenses), and move into a multifamily that has enough renters to cover expenses or even cash flow. The more cash flow the better.
I have a wife and a son, so I need a low COL area to get enough space to make this work.
I've looked at properties like this:
https://www.zillow.com/homedetails/722-Rocklick-Branch-Rd-Ch...
And this:
https://www.zillow.com/homedetails/4023-Floyd-Blvd-Sioux-Cit...
I'm wondering where I can go in the entire U.S.A. that would maximize my cash flow at roughly my price point, keeping in mind the above factors.