With all the investors out there trying to scoop up property, the hot market, and the interest rates hiking “house hacking” has an edge. Here’s why, because you can pay more for a property than a typical investor, take advantage of the descent interest rates before they hike up, and eliminate the everyday buyer. So here’s my thoughts on this make sure it will cashflow when you move out, the location has to be top area and location to attract the very best tenants. And you can put anywhere from 3.5-10% down which certainly beats the 25-35% an investor has to put down. If you know the house is solid you can even wave off the inspections, but get a contractor in there after the fact for your peace of mind.
Just a quick thought because currently I’m doing exactly this for a premier 2 unit in a premier location is a very very highly sought after location for young business professionals command top quality rents for each unit. I will pay around $1500/month or less on my house hack because I can rent out bedrooms solely ( top unit has 5BR and 2BA!!!) or an entire unit, and even rent one of my units I’ll live in out since I really only need one(2BR 1BA). There needs to be multiple angles you look and analyze things and come up with does this deal work for me. What you read and hear through podcasts actually doesn’t matter in those instances but get your mind wet, now it’s time to get those feet wet, and do the real reps that will make you a seasoned and smart investor.
