House hacking personal residence?

[Trey Rittenhouse]

I’m about to move out of my parents house and into my first home that I purchased at 23. One of my friends is struggling in his parents house and would like to move in with me to split the costs for both of us. Would this be a bad idea? It’d help us both financially, but does anyone have any experience with this or recommendations?

[Tanvir Sattar]

@Trey Rittenhouse Great to hear you are taking your first step in investing so young. It is definitely something that is doable as long as you both have the right mindset going into it. I'd suggest signing a lease and make it clear you are the landlord and he is the tenant. This is the best way to keep your friendship after he moves out.