All Forum Posts by: Connor Sheehan

We bought our first property as a house hack and broke even on day one. Now, the property is fully rented and cash flow is around $800 a month. Definitely worth it!

@Miranda Micire That's great to hear Miranda. I love hearing past experiences. It gives me confidence that this is a strong strategy and motivates me to start. Thanks for your response!

0 Votes

Boston, Massachusetts

Quote from @Nathan Gesner:

Quote from @Connor Sheehan:

Hard to say without seeing numbers.

Most house hackers seem to charge rent to their Tenants, but not themselves. My recommendation is that you treat yourself as a Tenant. Sign a lease agreement, pay your rent. This ensures you are collecting rent for the entire space and see how the property performs as a rental. It will help you cashflow, ensuring you can set aside money for reserves or a future investment. And it allows you to show concrete proof of performance, which may be necessary for lenders or a future buyer.

@Nathan Gesner Awesome. Thank you Nathan I hadn't thought about this approach nor have heard it anywhere else. Great insight thanks a lot!

0 Votes

Boston, Massachusetts

@Mekkel Blanchard Thank you Mekkel! Really appreciate your comment and enjoyed looking at your investments on your profile. I also am looking in Taunton area (really anywhere in Bristol or Middlesex county). Thanks for connecting!

0 Votes

Boston, Massachusetts

@Jason Bowden thanks for the insight Jason. Did you plan to move and repeat the process after a year in your 4plex?

0 Votes

Boston, Massachusetts

Quote from @Justin Hammerle:

@Connor Sheehan - I think this is budget and location specific; I'm sure around Boston it will be difficult to breakeven with a 2-family, but if your on the outskirts or even out of state maybe you can afford a 3-4 family that will get you there.

@Justin Hammerle Awesome, thanks for the reply Justin. Would you suggest targeting tri & 4 plexes over a duplex if in my budget?

0 Votes

Boston, Massachusetts

Hello everyone,

I am ready to begin my real estate investing journey and am looking to house hack a multi-family property to get into the game for little down payment. Is it reasonable goal to look to break even on this first investment? I've been evaluating the expected expenses for deals in my area and the numbers do not seem viable based on current rates and home prices.

Any advice or past experience with househacking via FHA on multi-families would be greatly appreciated.

2 Votes

Boston, Massachusetts

All Forum Posts by: Connor Sheehan

Connor Sheehan has started 1 posts and replied 6 times.

Post: Looking to househack a multifam for 1st prop. Is it a reasonable goal to break-even?

Post: Looking to househack a multifam for 1st prop. Is it a reasonable goal to break-even?

Post: Looking to househack a multifam for 1st prop. Is it a reasonable goal to break-even?

Post: Looking to househack a multifam for 1st prop. Is it a reasonable goal to break-even?

Post: Looking to househack a multifam for 1st prop. Is it a reasonable goal to break-even?

Post: Looking to househack a multifam for 1st prop. Is it a reasonable goal to break-even?