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Updated about 6 years ago,

User Stats

581
Posts
32
Votes
Tony Marcelle
  • Bessemer, AL
32
Votes |
581
Posts

House hacking and finding tenants?

Tony Marcelle
  • Bessemer, AL
Posted

If I buy a multi-family property to house hack, how fast do I need to have a tenant in place to start paying their house payments and mine. I am just saying since I would kinda be at the mercy of the tenants paying their rent to cover my mortgage payments. While we're at it, can I add in utility costs for my unit too to be paid by the tenants? Should I or should I not do that? Paying my own utilities would be a problem for me since my biweekly income is unpredictable. I may stretching it a bit too far. Can I use the rental income from all the other units to pay off all of my personal debts too? I thought it was worth a shot. The key for me is finding reliable tenants who will always pay on time. 

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