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Updated about 3 years ago,

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Aleksey Moody
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House Hack Back to Standard Rental - How Did it Go?

Aleksey Moody
Posted

I see that 4-5 bedroom homes are commonly recommended/used for house hacking, and I am planning to do that for my next house. In talking to two people today (separate conversations, one being my dad, so I value his opinion of course!) who have had several rentals in the past, they both advised against that. For reason of once I move out, the individual renters leave, and I convert to a standard long term rental, a house with that many bedrooms would attract large families or the wrong tenants and they would "trash it". If I bought an old/small/cheap house with a bunch of bedrooms crammed in, I could definitely see how that would attract the wrong types. But my thought process was that there's always a risk of tenants damaging a property no matter how many bedrooms, and considering I am planning to purchase a new or remodeled home that would be at a little higher price point, that would help attract more desirable tenants. 

If I only purchase a 3 bedroom and rent out two rooms, from the numbers I am using I would likely be coming out of pocket for about half of the mortgage every month, and that kind of defeats the purpose in my opinion.

However, acknowledging I have never done this before, for those of you that have, I am curious what your real world experiences are with this scenario. I know someone will suggest looking at off market deals, but at this time I am just considering turn key properties. This is in greater Pheonix area for context. Thank you in advance for any input!