Living in your first rental property?

[Nico Stewart]

Hello all!

I am freshly new to the BP community, living in northern Virginia, and have been learning a great deal from the Craig Curelop House Hacking book. The book focuses on living in your house hacks so that you can benefit from a discounted loan interest rate; however, it looks like some people here are able to find profit in property’s nowhere near where they live.

My question: is it absolutely pertinent that I live in my rental property, or in other words, can I still make a profit as a general rule?

I understand there is a handful of variables that come in to play when calculating profit, but having the ability to own a property where you do not live could definitely open doors.

Let me know what you think! I’m definitely interested in a mentor. :)

Best regards,

-Nico