House Hacking Opinions

[Christopher Anello]

What are you opinions on house hacking? Have you house hacked? What do you feel are the pros and cons? I have been searching my local area for multi family units. My plan is, since I don't have much capital, to house hack it until I can afford my next investment. I can think of some pros and cons but I'd like to reach out to you guys and get your opinion. I'm very new to REI so I'm open to all responses.

[Laura Posluszny]

I bought a house in 2016, single family with a converted garage with own entrance/kitchenette/bathroom. All we share is laundry. it's not separately metered. I rent out the back garage as well as have a roommate (a friend!). At the time I had only been working out of school for 1 year, so I didn't have tons of cash. I got a 3.5% down conventional loan and brought a total of $7,800 to closing. Spent another $5,000 or so right away on the house. Now with mortgage minus rent, I pay $279/month to live in a really competitive and nice area of Fort Worth, TX. It's been 6 months and I just today put in an offer on my first investment property! Hopefully once my year is up at this house I can purchase a duplex to house hack.