All Forum Posts by: Michelle Brabeck

Does anyone have experience house hacking by hosting foreign exchange students? How much monthly income could that produce? We are empty nesters with a huge 3800 sq. foot house and two bedrooms with on suite bathrooms that are not being used. We like the idea  of hosting international students, rather just renting rooms out, but are wondering how much money if any can be made on it?

Thanks for your replies! Yes, the CA house is a liability and takes a lot from our monthly cash flow. It is a scary thing to do, but I think we will be best off if we cash out on the CA house since we can take the money tax free, I don't want to rent it out. We stand to make $400k on the sale. What would be the best cash flow for money like this? Multifamily or BRRR strategy? We have family in MN but our two grown kids are here in CA. We can always get something smaller later if the market drops in CA. Thanks for your input! BTW what is OPM? I'm new to this forum.

Hi all, I have two properties CA full time residence and MN vacation home. We own the MN house free and clear (a very small house) worth 180k and a CA house worth 850k with a $3000 per month house payment and a 415k loan on it. . We live in CA and want to start investing in real estate in MN full time after my husband retires soon. My question is should I keep my house in CA and leverage it or move to MN full time? We stand to profit about 400k on the CA house or we can leverage both houses for the equity and have about  270k in equity lines of credit but also have a $3,000 per month house payment and have to pay monthly on the equity lines while in use.  Any help you can give I would appreciate it!