Dallas, TX · Member since 2017 · 10 posts · 1 vote
I'm interested in "creative" house-hacking strategies.... My goal is to live in a nicer place than I do now and make my cost of living $0 or much lower than what I'm currently paying in rent.
Example Scenario
Rent 4 BR house @ $2,000 mo
Get 3 roommates, Rent 3 rooms out at $650/month+1/4 utilities. I live for free in the 4th bedroom and just pay my share of utilities.
No closing costs, no repairs, no mortgage... and I live in a nicer home.
If you can find it... you can try to find a seller who is willing to do seller financing but would be best to involve an attorney to make sure the terms and verbiage is correct. In this instance the seller is the lender and you would be paying them monthly while house hacking.
San Francisco, CA · Member since 2018 · 72 posts · 30 votes
5y
@Ashley K.
Hey Ashley this is a great idea
I recently closed on a house and used an FHA loan (3.5%) then used a first time home buyers down payment assistance program that covered that 3.5% for me. I only paid for inspections