House hacking duplex

[Isaac Davis]

Newbie question, Looking to focus on house hacking a duplex or triplex in Northern Colorado. I have a wife and 2 kids and willing to live in one of the units. Questions or concerns about taking this path? Does anyone have experience I can connect with and or guide thru step by step? Thanks in advance.

[Dan Maciejewski]

It is a great way to get into investing.  You can save all the money you would be spending on housing so you can get into your next investment that much faster!

I have helped a few newer investors get into their small multifamily house hacks and they are all happy!

A few things to look out for:

1. Inherited tenants tend to feel like they own the place.  They tend to not like new leases or rules that you may want to implement or old rules that you want to start enforcing (smoking, pets, non-lease tenants, etc.).

2. In all real estate investments, screening in the #1,2,3 & 4 most important things you do.   It's better to sit vacant longer or drop the price a bit than to get bad tenants in.  

I am still living in our 4-plex, so if you want to chat or ask more questions, we can connect!  We'd be more than happy to share our experience!