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Updated about 4 years ago on . Most recent reply
House hacking for college?
Our college age daughter is looking at a house hack that she can rent out to other young women as opposed to living on campus. I can analyze a BRRRR or flip with relative confidence but I never analyzed a house hack because its not something I will ever do. I have not seen a hacking tool on the analysis side of BP. Even if there is one I haven't had great luck with the ones for BRRRRing or flipping. How do I look at this & not ride myself into a box canyon. The two rooms she could rent out will likely cover the mortgage & theres a great chance to add another bedroom & bathroom to this existing 3/2/2. Thanks to any & all for your advice.
Most Popular Reply
I would use the Rental Property Calculator. Just use the income from the two bedrooms. If she is looking at adding another take a further dive and add a remodel to it and adjust in monthly income accordingly.
Hope that helps