All Forum Posts by: Katherine Young

Hi there BP family, My husband and I are under contract with our first duplex. We will house hack for at least one year as we used an FHA loan for financing. One thing that really drew us to this property is the fact that it has two detached, brick garages. One is 10x10 (rough estimate) and the other (a two car garage) is 575sq ft. We were hoping to turn the larger garage into a one br/b rental but we found out today that zoning will not allow it. Our next move is renting the space out for storage purposes. Does anyone have any information on zoning restrictions, "lease agreements," advertising, property taxes, etc? Any information would be helpful. Thanks in advance, Katie

We are under contract with a duplex where we will house hack one side and rent out the other. Our monthly mortgage/tax payment/etc will be about $1500. Based on the market, we should be able to rent out the other side for $1200 (as is). The duplex is in great condition but is extremely outdated (wood paneling, pink/green tile, etc). It screams 1950s. The rental market in our area is very favorable area where there aren't a lot of places for rent. My question is, should we fix up the units as time goes on or before we have renters (in hopes for a higher monthly rent)? Is there a good rehab/rent calculation that you all recommend? Also, this is our first rental property so this is all very new to us!

Stephen Anderson , I'd be interested in hearing more. Thanks.

Adrian, I'd love to hear of any multi family properties you might know of. Thanks, Katie

Hi Austin, My husband and I have made the move and are looking. We recently found a duplex downtown. It's 2br/1b, 1br/1b for 109k. We would ideally House hack the 2br and rent out the 1br. It is currently renting out for 550/month. The location is what really appeals to us but it is surrounded but a few other multi family properties. Thoughts on that?

Thanks so much, Nathan! We are moving forward cautiously. I think it could be a great, little first time investment.

My husband and I recently stumbled upon a duplex (2br, 1b) and (1br, 1b) for 109k. The duplex is in a great area and is currently rented out on both sides (650/550month respectively) with leases ending in Jan. Our plan is to house hack the 2br side for a year. The tricky part of this is that we are a family of four, soon to be, family of five (baby due in Jan). There are quite a few fixes we would want to make on the 2br to make it a nicer space for our family. In the mean time, we are living with my parents and saving money. Questions: 1. Are we crazy? 2. Experiences with duplexes? Pros/cons? 3. Finance options for first time home owners? Repairs/remodeling financing? 4. Experience with Househacking? Thanks!

Beau Miller I would love your contact information. We will definitely need some help scouting a place out. Thank you.

Thanks guys! So far, what we have seen on Zillow and Loopnet looks a little rundown. We will be moving from VA to Florida at the end of September but will be living with my parents for a few months to give us time to scout out the area. I should also mention that we are expecting our third child at the end of January so we would need to find a duplex--fourplex where we can house hack comfortably.

My husband and I will be moving to Lakeland, Florida at the beginning of next year. We are looking to house hack for our first investment property. Any advice or leads on duplexes would be greatly appreciated.