All Forum Posts by: Bill Regan

I agree with @Andrew Johnson.  Make sure the numbers work for you if your plans change and you have to move out in a year or two.  Maybe you want to get another house hack, or move into your own home, change jobs/cities, etc.  

If you can cash flow with all units rented, accounting for vacancy/maintenance/loan servicing, etc. then its probably a winner.  While you live there you will probably live for free, maybe even pocket some cash and use that towards the next investment or a regular home.

I would consider selling.  As you say the market appears near its peak and is a good time to cash out.  

Of your 130k, set 50k aside to bolster your short term savings and use 70k to look into a stable market in the midwest where you could use that 70k as a down payments on 3 100ish k houses that cashflow $200-300 each.

This way you've doubled your monthly rental income, taken the burden of being a landlord off yourself (with a management firm in your new rentals town), and you have a decent amount sitting around for emergencies or to use in your area if the market crashes.

I especially like how you moved the house from a 15 degree tilt in the first picture to level in the second :)

Seriously though, inspiring and great looking!

Nice story Douglas!  Not really a vacation but an experience I'm sure you're family won't ever forget.

I've got a 2000 Mazda pickup with 204k miles on it and peeling paint.  Not worth having a car payment of a few hundred a month just to have a shiny car.

That's awesome!  I remember Chris's earlier podcast, I'm definitely interested in his turnkey company down the road.

Welcome James!  I'm up in Dunedin, looking for a MF house hack too.

My wife manages several short term rentals for another BP member in our town. It's worked out great for all involved, allowing my wife the flexibility to stay home with our daughter and the owner to travel and pursue other interests. We are going down this path this summer. Looking to get a duplex or other small multi and live in part while putting the other part up for short term rental. This will allow flexibility for when groups of our family come to visit too. From the money saved/made through the short term rental will allow us to get others.

Great story Jordan! House hacking really is a great way to start in REI. Especially with services like AirBnB so you aren't even stuck with permanent tenants if you don't want them. I did this right out of college and am looking to do t again this summer. Thanks for the inspiration!

I bought a duplex right out of college, I didn't know it at the time but I was house hacking. You could buy a cheap place now and rent another unit to friends, or even a single family and rent the other rooms out.