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Updated almost 4 years ago on . Most recent reply

Account Closed
5
Votes |
44
Posts

Best way to use 175k for house hacking and rental for cash flow?

Account Closed
Posted

Hello,

i am currently looking for a 2 unit in north jersey to house hack with the hope to convert the garage unit into a studio depending if the town allows it once i find a place, im est the purchase cost 510k with 15% down, 5k reserves, 10k closing. 100k in total, then 75k to 90k with the hope of purchasing a single fam rental or duplex with the purchase price of 315k in the following state (one of them)

1. Philly ( for Airbnb business i was thinking of doing in the hopes of buying a row house, fix it up, and rent out)

2. Florida

3. Texas

4. NC

I aim for cash flow and am willing to put all available funds into rentals. This is my current plan and would love some feedback/ insight on the best way to use these funds to my best ablitiy. I understand the market is crazy everywhere but with many experts on here. i feel this is the best place to get the best advice possible in my situation. 

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