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Updated over 3 years ago,
Househacking a move-in ready Duplex?
I've been shopping around for househack deals in LA for a couple months and deals with value-add components are tough to find and even harder to win. In an ideal world, i'd like to find a property where i can force apprecation (like buying a SFR and adding an ADU or buying a duplex that needs cosmetic upgrades) so that I can do a cash out refiannce to help fund the next deal.
If i went with a move-in ready duplex, I would essentially live for free (after considering principal and tax write-offs) which is nice but not sure how i would leverage this property for the next deal. i plan on holding the property for the long run.
Should i settle for move-in ready? how else could i leverage the property for the next deal (beyond just waiting for appreciation)?
thanks in advance for the advice