Which Tool to Use House Hack or BRRR

[Barbara McArthur]

I'm trying to figure whether or not a house in my neighborhood would be a good buy and hold rental. The house is in good shape. It just needs some wallpaper stripped and a coat of paint (inside). I'd like to move into the house and do the work myself. I don't know if this would be a house hack or a BRRR so I'm not sure how to analyse the deal. It would be owner financing with no money down. The house will need a roof in about 5 years. The owner has bad memories in the house and just doesn't want to think about it any more. Any advice?

[John Hickey]

Barbara McArthur first you house hack then you BRRRR.

If you can love there for a year so FHA. If you can owner finance donthat them FHA. Move in fix the problems and then stay the year rent out and move into BRRRR, if it's financially worth while. Might take a few years....wait for some appreciation. I e done this before. Very good way to acquire your fist properties.

As for the owner. They have a problem. You have to figure out what the problem is and solve it. Do they want to walk away from the house as is? Do they want momentos? Do they want to come back one day and see it revived? Who knows. But they do want something maybe a quick close and time to clear out some stuff.

Figure out he problem and solve that.