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Updated over 2 years ago,
Turn Key House Hacking in Utah
Hello smart people on Bigger Pockets! My wife and I live in a town home and have about $80,000 of equity. We're interested in selling and purchasing a 3 or 4 plex and live in one of the units for at least a year. We'd plan on moving to a different property after the year is up. As I'm crunching the numbers, it appears that while we're living in the property we'd need to pay about what we are paying for our mortgage now, and once we move we'd basically just be breaking even (all things considered- taxes, vacancy, etc.). I'm not a handy-man and am not interested in fixing something up. We've looked at newer properties that wouldn't require much of any repairs. To me it seems like a pretty good deal, eventually the cash flow will be there. However, I've heard other stories of people being able to house hack and the numbers seem to work out that while living in the property their payments are extremely low. Any thoughts or direction anybody would give me?