Advice on a house hacking idea

[Rashaun Labeau]

Hello everyone just getting into real estate investing. I'm doing my due diligence studying I'm putting my plan together,but I came across an idea today that I just wanted a little help on.It's a house hacking idea I just wanna make sure that it has legs. My mother has a single-family home in Oklahoma before my dad died he pulled out a second mortgage that he never told her about now she owes just over 50 K in the house. She's already done repairs to the ceiling and plumbing but It does need a rehab to the interior of the house. It's worth 85K I was wondering how can I house hack my mothers home do I get her to sell it to me and put a down payment and try to BRRRR it? Do I make my mother a tenant because she's not going anywhere. Not sure what to do with this any suggestions would be greatly appreciated to a newbie.

[Skyler Walker]

Rashaun,

I can’t help you much with what you should do in this situation although it sounds like you might just help her rehab the place and increase the comps.  

However, “House Hacking” usually refers to something like a duplex or a property where you can live in and charge rent at the same time.  

Just my experience.  Hope it works out!