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Updated about 7 years ago,
Would you do this "HouseHack" deal in Orange County, California??
Hello BP Members! Question: I am looking to HouseHack in OC, California, and here are the stats: Purchase price of $250K(ish), FHA with 3.5 down (@$8,750.00 Cash to close.), @$1,850.00 Mo Pmt. Incl. $250.00 HOA. I would rent the 2nd room for around $700.00(?) and my portion of my mortgage would be around $1,150.00. I don't mind my portion of the mortgage, my thoughts are when I move out and this will be a 100% rental, I don't imagine I would get more than $1,300.00~$$1,400.00 total rent. I would be at a negative $440.00 monthly.
I don't think just to get my "Househack" it would be worth it, right? I would really appreciate all thoughts on this potential property.
Thank you very much in advance .
Cheers! $$$