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House Hacker Question: Paying the same amount owning vs. renting
Benjamin SulkaPoster
#3 House Hacking Contributor
#3 House Hacking Contributor
- Cleveland, OH
Hey BP house hackers,
Actively making offers on house hack deals in my area and want to get your thoughts on something.
Many of the properties in more desirable areas (and higher potential for appreciation) would allow me to pay just about the same that I am renting right now after considering every expense under the sun (PITI, vacancy, PM, capex, maintenance, etc etc). In my area, that number is $1,450.
These properties would be just about breakeven if we decided to move out after one year.
Considering all of the other benefits of doing that first deal, do you think it's worth it? Would have somewhere between $17-20k total into this deal.
Super grateful for any insight.
-Ben, aspiring multifamily house hacker