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Updated over 4 years ago,
House Hack Brand New Duplex
So I'm looking at purchasing a Brand New Duplex that comes with Fridges/ Washer & Dryers on each side for 285,000 which with a 3.5% down payment with an FHA loan will put my mortgage around $1900 so lets say $2000. I can rent the other unit for $1300-$1400 in that area leaving me only $600 left to pay have been hoping for the renter to cover mortgage, but looks like in my area Houston, TX Brand new duplexes/ even older ones run around 250k-300k.
So heres my list of Pros and Cons im trying to weigh out
Pros:
Brand new no fixes for a long time
If i moved out in a year (FHA purposes) could cash flow up to $800 after
Me and My girlfriend would save money if we split remaining $600 in half so $300 a piece saving us each roughly $250 in rent
Cons:
Dont know if paying $600 is really considered house hacking
Dont know if thats too of a price or if i can build equity in a Brand New Duplex.
This is my first step towards investing so Any feedback/ advice is welcome!