Insights on House-Hacking in Florida: Cash Flow Challenges and Creative Strategies

[Mykhailo Strelchenko]

Hello, Bigger Pockets community!

I'm seeking some insights on house-hacking in South Florida. I'm looking to purchase either a SFR or a small multifamily property with an FHA loan and a budget of $250k to $300k in West Palm Beach. So far, every property I've evaluated seems to result in negative cash flow. I understand that it's challenging to find cash-flowing properties in this rapidly appreciating market, but the numbers suggest that my rental income would only cover about 50% of my PITI.

Has anyone here had experience with house hacking in South Florida? What are the typical financial metrics in this area? Are there any innovative strategies to enhance cash flow that you could share?

Thank you!

[Bradley McVay]

Myhkailo, @Andrew Postell is correct. Instead of trying to cashflow while you are living there, I would run the numbers to ensure that you will cash flow once you move out. Saving money on living expenses is the goal for this. Then, you move out and are left with a cash flowing property. This is what I am searching for right now.