All Forum Posts by: Michael N.

Franklin Curry Jr I did this for the first time in 2015, I’ve concluded I never want to live in a single family home again. Why would anyone choose to pay to live somewhere each month when other people can pay for you? I will always house hack. Want a 33% raise? House hack, live for free. It’s a no brainer.

Eddie Gonnella they’ll count rent from units you don’t occupy. Example if you buy a duplex with 3 bedrooms in each side, and get 2 roommates for your unit, and rent out the other unit. They won’t count rent from your roommates, only the other unit.

I plan on deriving income from a 50/50 split of real estate and index funds. Example on 1 million dollars. 500k index funds x .08 will put you around the mark to pay no taxes on capital gains (38k I believe?). Couple that with the tax benefits of real estate with 500k in equity and hopefully pay 0 taxes, while making around 80k/year.

Them* not him.

I would write a letter explaining your numbers, and how you’re not trying to rip him off, but based on your numbers, this is a fair price. In my experience, older people seem to appreciate letters. I would bet a good number of millennials don’t know how to address a letter.

Jonathan Grannick you could find one Tenant yourself, and arrange for them to find their roommates. Pay them $50/100 each one. This way they’ll be able to meet/interact with potential roommates and let you know if they think they’d be a good fit.

Was asking myself this same question last year. Check with your lender. In my case, they were fine with creating it after the sales contract.

I’ve been seeing a lot of these lately. Getting it zoned as a tri might work, but I’d play it safe and run numbers as a duplex. You can combine the illegal unit with another to make it legal and bigger.

2nd Venmo, especially assuming you’ll be house hacking with other young professionals. It’s so easy and everyone has already been familiar with it before moving in.

Don’t rush into another house hack if the deal isn’t right. If you can’t find a deal soon, might as well stay there for 2 years so you can get up to 250k tax free.