Mobile Home Park Investing
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated almost 6 years ago on . Most recent reply
Would you continue to house hack, traditional rental or Airbnb?
What would be the right next step?
I have enough money save to put down 20% on a 2nd property in my area, but my credit score is too low right now to get approve for a traditional loan. I’m self employed so I try to pay as low in taxes as possible.
For additional income I recently started to house hack my primary home (4bed 2bath) I am currently house hacking renting 3 room each per month to international students for $650. My mortgage is $1500.
My question is should I hold my money, save more and slowly build up my credit so I could finance another property. Or should I try to turn this money over right now and convert my garage into a efficiency.
I could rent the efficiency traditionally for $1300 per month or on Airbnb. I could live into the efficiency and rent the 4th bed room for $850 (prvt w/bath), or live into the efficiency and try Airbnb with the main house. Bare in mind I would have to use the full cash I save up as a down payment to finance the construction of the efficiency. It will be down up to coding and it’s been ok by the city.