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Updated about 4 years ago,
House Hack Question- Pay yourself rent?
Hey folks,
Quick question on HH'ing- Say one buys a three apt property and lives in one of those three. How would one treat the finances in regard to the apartment you're living in? For instance, each aprt. is $1,000, would you "pay yourself" the $1,000 collecting a total of $3,000 per month? Or would you only count the two other apartments and count your own "rent" as a loss? I ask because regardless of whether you're living there or in your own property, you're paying a mortgage or rent no matter what (unless you own something outright).
Thanks,
Alexander