How does house hacking change the sell/stay breakeven equation?
Hey BP friends,
I am beginning to search for a property to house hack in the DFW area. If all goes to plan, I'll house hack here and use the BRRRR method for 3-5 years, acquiring 2-3 properties during this time. I plan to move after this time period. If I move out of the area, I'll either sell or hire property management, depending on life circumstances at that point in time.
Traditionally when buying a SFH the wisdom is to not buy unless you plan to own the house for 5-10 years due to selling costs and equity gain from paying the loan. However, this doesn't factor in any forced appreciation or loan paydown from tenants.
So my question is - does this wisdom still hold when you're house hacking? If not, would the breakeven point come sooner or later? My intuition is that it would come sooner due to the appreciation and loan paydown.
Let me know your thoughts!