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Updated almost 8 years ago,
How important is buying it right on a first time househack?
Hello all,
I'm currently finishing a year lease at my apartment and I have been inspired by BP to find myself a 2-4 unit small multifamily to househack.
My question is: how worried should I be about buying it right?
My thoughts: I plan to pay $170-200k, minimal repairs. Currently paying $950 for rent. The mortgage wouldn't come close to what I pay for rent, so I figure that regardless of issues I may have woth vacancies I will come out ahead. Yes I plan to run the numbers, but is waiting another month while I look for better deals and throwing more money in the trash on rent really worth buying at a better price?
First post, really enjoying BP so far and reading real estate.
John