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Updated almost 7 years ago on . Most recent reply

User Stats

70
Posts
20
Votes
Jerry Cinor
  • Investor
  • Pompano Beach, FL
20
Votes |
70
Posts

Thoughts on house hacking !!

Jerry Cinor
  • Investor
  • Pompano Beach, FL
Posted

I’m  fairly new to real estate investing.I am a plumber.  And I’ve been reading and researching about house hacking. Seems very do able and also profitable. Do you guys think that would make a great first rental property.? Cons and pros?

Thanks in advance guys!

Most Popular Reply

User Stats

88
Posts
41
Votes
Aaron Van Curen
  • Real Estate Broker
  • Fort Wayne, IN
41
Votes |
88
Posts
Aaron Van Curen
  • Real Estate Broker
  • Fort Wayne, IN
Replied

Do it.
Pros:
Tenant pays your mortgage
You live for free or at least very cheap
Helps you build a relationship with a bank for future deals if you do financing
Gets the first deal out of the way so you're not scared to keep going.

Cons:
Have to live next to a tenant
Will be hard to separate yourself as the landlord (only matters if you want to be seen as the "manager)

I'm sure others will have things to add too.

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