House Hacking Question

[Philip Gumpl]

Hi everyone,

I just had a question about buying a place to House Hack for my first property, specifically a duplex. The goal is to have move into one apartment and the rent collected from the other apartment pays for the mortgage and maybe even gives some cash flow. So far, none of the properties I've looked at really come close to that. Is that something I should be adamant about? The property I'm looking at now, I would end up paying about 500 a month myself, but when I move out eventually I would be gaining about 200 in cash flow. Is this normal?

Thank you!

[Brian G.]

Originally posted by @Philip Gumpl:

Hi everyone,

I just had a question about buying a place to House Hack for my first property, specifically a duplex. The goal is to have move into one apartment and the rent collected from the other apartment pays for the mortgage and maybe even gives some cash flow. So far, none of the properties I've looked at really come close to that. Is that something I should be adamant about? The property I'm looking at now, I would end up paying about 500 a month myself, but when I move out eventually I would be gaining about 200 in cash flow. Is this normal?

Thank you!

Hi Phillip, can't answer your question specifically about whether or not that is a good deal. However, if house hacking lowers your monthly expenses by significantly lowering your monthly housing costs, that is a win in my book. Also, look into the possibility of renting out rooms to see if that will juice your returns or not. It's definitely wise to consider the potential cash-flow after you move out of your house hack. Get creative. It's a great strategy!