First Time Buyer

[Armando Tellez]

What should I take into consideration when buying my first property as a house hack?

[Jevon Shaw]

This is very broad, but I'll try to list a few of the big common questions:

1. Even if you're mortgage isn't 100% covered by the rent, it is probably still a good deal

2. If you do rent-by-the-room, you'll need to account for not just a landlord to tenant relationship but also a roommate to roommate relationship

3. Generally people recommend using an FHA loan (or the conventional equivalent) because it allows you to acquire the property for relatively little out of pocket

4. Taxes for a house hack can get hairy depending on how you are house hacking, so I recommend consulting with a CPA when tax time comes

This isn't an exhaustive list, just some nice-to-knows!