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Updated over 5 years ago on . Most recent reply

Tyler Segebarth's profile image
Tyler Segebarth's profile image
Tyler Segebarth
  • New to Real Estate
  • from Jacksonville, NC
  • Member since Oct 6, 2018
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Tyler Segebarth's profile image
Tyler Segebarth's profile image
Tyler Segebarth
  • New to Real Estate
  • from Jacksonville, NC
  • Member since Oct 6, 2018
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Tyler Segebarth
  • New to Real Estate
  • Jacksonville, NC
8
Votes |
24
Posts
Starting Out

Budgeting for House Hack

Tyler Segebarth
  • New to Real Estate
  • Jacksonville, NC
Posted

Hey guys! 

So I recently got my first property under contract, a duplex that I plan to house hack. The numbers look pretty good to me, but I'm hoping someone can help me with a question about budgeting.

When looking at my budget, should I be setting aside money for Vacancy, CapEX, and Repairs? Cash flow is around $97 without accounting for any of that, and at 7% for each, I would be cash flow negative by $70 each month.

I'm curious to see what you guys have to say, especially my fellow house hackers!

Tyler

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Dillon Dale's profile image
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Dillon Dale
  • Real Estate Agent
  • from Owatonna, MN
  • Member since Nov 20, 2017
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Dillon Dale's profile image
Dillon Dale's profile image
Dillon Dale
  • Real Estate Agent
  • from Owatonna, MN
  • Member since Nov 20, 2017
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Dillon Dale
  • Real Estate Agent
  • Owatonna, MN
152
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221
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Dillon Dale
  • Real Estate Agent
  • Owatonna, MN
Replied

@Tyler Segebarth yes, you should account for those expenses in your budget!

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