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Updated over 2 years ago,
House Hack dilemma - WWYD?
Hi! This is a kind of House Hack/BRRR. We live in an expensive neighborhood in NY where there's usually nothing that would cashflow. But our primary home would be a great rental and potentially net us $3-4k per month after all expenses. We recently renovated so it's in great shape. I found a house in town at a great price that needs only a little work and has lots of expansion potential (estate sale - possible seller financing). We could buy that house and end up paying about the same amount of mortgage and expenses as our current house. Problem is my 3 kids hate the idea of it. The new house is about the same size, same school district, but just opposite side of town and older feeling. Do I just do it anyway? It makes a lot of economic sense but I feel a little the same as them... what would you do? I know there's no right answer but would love to hear any thoughts or concerns I haven't thought of. The idea is to maybe keep doing this in town (very low inventory of rentals and very high demand). Thanks!