Wife doesn't want a second house hack
Hey BP fam,
We have been house hacking for a year now everything has gone great it is my wife and I +3 daughters. As the market corrects i was saving up to grab another house to hack.
Unfortunately my wife is not on the same page as me. She would lime a SFH just for us and the kids. Once we leave the current house it will cash flow $1800.
has anyone else been in the same situation? I fear that once i get the next property our investing into RE stops there until she finishes school in 4 more years 😭.
Our rents have so far covered mortage+HOA and solar bills and zero cash flow. One lender has said they will count 75% of rental income towards pur DTI is that average or are there better lenders out there?
Most Popular Reply
Hey Josh,
We see this a lot in the industry don't worry.
The ideal situation would be to find a small multifamily property that you can get on an owner-occupied loan. Ideally a duplex on a 3.5% down FHA.
Here in the PNW we see a lot of split-level homes that get converted into two units by adding a kitchen downstairs though I'm not sure that'd be enough space for you and your family.
The ADU/DADU is a great place to look as well. There should be some options/layouts that suite your wifes needs.
Best of luck man!