House Hack Rules

[Jake O'Brien]

Hi, I'm looking at house hacking, but not sure all of the rules. How long after I purchase the property do I have to move in?

[Matthew Kwan]

HI Jake,

It is within 60days upon your close date. 

There are multiple ways to master the concept of house hack. You can live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.

There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible. Try looking into zillow/Redfin and see what your potential rents you can get near the neighborhood by filtering the bedrooms/bathrooms of the intentional property that you are planning to buy. This will allow you give a reference point on how much potential rent you can receive. (Max vacated rents - your monthly mortgage payment) = +/- net cashflow. Happy to connect and assist you in your real estate investing journey.

Happy to connect if you are interested to expand your portfolio

@Carlos Valencia @Albert Bui