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Updated over 6 years ago on . Most recent reply

User Stats

3
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1
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Sadiya H.
  • New York
1
Votes |
3
Posts

Plan to buy first house to house-hack

Sadiya H.
  • New York
Posted

Hi All-

I would like to get into world of Real Estate, and a newbie to Bigger Pockets. I plan to buy my first house in 2019  would really like to house-hack.

Ideally, I would prefer a house in Long Island but will be willing to settle for Queens, depends on the neighborhood.

What are your thoughts on buying a single family and convert to multi-family for hacking? Do you think this approach would be worth the associated expenses, or do you think it would be better-off buying a multi-family?

Not sure how I should go about this, so would really love to get some feedback, suggestions, from you guys.

Thanks so much in advance.

Most Popular Reply

User Stats

96
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63
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Alex Furini
  • Architect
  • Cary, NC
63
Votes |
96
Posts
Alex Furini
  • Architect
  • Cary, NC
Replied

Sadiya,


House Hacking is a great way to get into investing. Ive done it and a lot of people on BP have done it as well. 

Regarding buying a single family and converting it to multifamily, not all properties can be converted into multi family due to Building Code, Zoning and ADA reasons. Before you put your money down, hire an architect such as myself to do a feasibility study. You want to make sure you understand the implications of converting as well as any unforeseen consequences that may arise.  As with any big decision, measure twice cut once.

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