Torn b/w 2nd house hack or begin BRRRRing

[Zachariah Hays]

Looking for some insight from the community.

I live in Cleveland, OH. I’m 28 and have 5k in debt to my name. I currently live in a successful house hack (duplex) that I only pay for utilities each month (~$350) out of pocket.

My full year is up and I am torn between doing another house hack or begin a BRRRR project.

I have never BRRRR'd but it has been all I've been listening to or reading about during the pandemic. I love that it is scaleable. I would have to use a hard money lender for the first time as I do not have the capital to fund the entire project or equity to utilize in my current home.

Or I could take the simple way out and utilize another low owner occupancy down payment option and find another duplex/tri/or quad in my area. While I know this method works, it’s boring and not as scaleable and involves constantly moving. Why move to another small multi when my mortgage is already paid for here?

I enjoy my house hack now and have grown fond of my home. This pushes me towards BRRRRing as I don’t have to move and can capitalize on the fact I don’t have a mortgage to pay for as my tenants do for me.

Any insight would be greatly appreciated.