Worcester, MA Rental Properties

[Spenser Hachey]

Hi All,

After crunching the numbers using a mortgage calculator, I'm having difficulty finding a property where I can cash flow from day 1. Let me break it down for you:

Boston prices are sky-high so I plan on house hacking a duplex in Worcester MA. I'm looking at a $300k- 400k price range but after running thr numbers, my mortgage would be more than the rent. For example, If I purchased a home for $350k and put 10% down (35k) over 30 years, my mortgage would be $1769 after taxes/PMI. After speaking to a local realtor I was told that a 2br unit in nice condition could get me anywhere from $1200-$1400. In other words, I wouldn't cash flow but the tenant would be helping me and I'd be paying less than my current rent.

What are your thoughts on buying a property where you're not cash flowing from day one?  Is it simply a bad idea? Should I buy a triplex instead so I can cover the mortgage?

I've read Set for Life, saved a good chunk of change and am ready to purchase my House Hack! But Is a duplex only worth buying if I can cashflow?

Thanks everybody for reading and looking forward to your advice/input.

-Spenser