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Updated over 8 years ago,

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15
Posts
3
Votes
Ahmed Ogunbunmi
  • New York, NY
3
Votes |
15
Posts

House Hacking & The 2% Rule

Ahmed Ogunbunmi
  • New York, NY
Posted
Greetings BP! Kicking off my REI journey and as a first timer I'm looking to break into the game through house hacking. Currently, pursuing a triplex in the Philadelphia market that needs a full gut. In applying the 2% rule to the 3 units the deal works great, however, since I am planning on also making this my primary residence and covering the mortgage from the two tenants technically I would not be paying myself rent. With income coming from only 2 units the property ultimately fails the 2% percent test while I'm living there. Is this a good deal worth pursuing? Thanks in advance for the insight!

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