Quote from @Felix Sharpe:
I just went under contract yesterday on my first property.
I am very excited.
It’s a duplex located near the University of Louisville and walking distance from Churchill Downs, home of the Kentucky Derby. I had originally thought that I would simply house hack the “traditional” way. But wondering what others thoughts are about house hacking via short term rental? The property will be undergoing a total renovation with a 203k loan. So interested in hearing other’s thoughts.
Thanks!
Hey Congrats on this achievement! To answer your question it depends, what are your goals and hopes? For example if you are looking to lower your W2 income STR is awesome and will hopefully cashflow great but like the above fellow BP member said requires more work. On the flip of a long term rental and a house hack is a great way to live free with a little bit of headaches, but you know you can acquire lots of rentals in a few short years by making it a primary residence. If you need any help at all and want to bounce ideas or questions feel free to reach out.
