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Updated about 2 years ago,
What is the most # of properties anyone has hacked?
Hi,
I'm definitely a real estate rookie. I am considering a house hack for my 2nd property. My first property is a condo, which I know most people avoid. I happened to get lucky with that and I'm in a position to buy a SFH or duplex this next year and move into it and rent out the primary residence I've been living in the last few years for over mortgage rate i.e. cash flowing.
It seems to me the primary problem with house hacking comes when you reach the loan term limit of the 8-10 loans a bank will let you have out, or your DTI exceeds what you need it to be because the loans are all in your name and not in a commercial LLC. I know some realtor friends who owned their 2 first properties in their name and not through a commercial LLC loan. They said you didn't really need an LLC for the first few properties.
In short, I'm curious, how many homes people have house hacked before they moved on to commercial loans, Or generally just any tips. I'm waffling around about making that 2nd purchase a house hack or a commercial acquisition because they each offer different benefits.