HouseHack, Rent, Condo or Stay still.

[Marcus Wright]

I’ve been question it for a few years now. Would it make sense to rent a condo and rent out the home I’ve lived in for 6 years or just stay in it since where I live owning is much cheaper than renting. My mortgage is $725 and renting would be around $1100-1200. Could rent my home for $1200-1350.

I’m 31, one child. I own a nice amount of properties as well and have been my career for 11 years. I’m in construction & managing my own properties so when it comes to my own homes management, I don’t approach it with the same urgency as the assets that pay me. Would love the freedom renting “allegedly” brings. 

I plan to househack a duplex I’m considering purchasing for a while then either rent adding 3 more door to the portfolio or purchase a condo downtown. Would this financially make sense?

[Marcus Wright]

Quote from @Paul De Luca:

@Marcus Wright

I think you should house hack and then rent your previous primary home. Maybe you could explore using your home as a STR too?

Renting could give you "freedom" however based on my experience as a landlord a lot of landlords are terrible. Slow to make repairs, unresponsive, difficult to deal with. Anytime you rent you're risking dealing with one of these bad landlords.

 Very true. Especially in huge complex’s. I heard a fair share of nightmare story from friends.