House hack in the saint Louis area
Just bought my first house, multi family on the south side of saint Louis.
4 family, 1br 1bath units. Each rents for 400-450 depending on updates has a full basement and 3 car garage which I plan on using for myself seeing as it's in slight disrepair.
I will be living in one with a friend so she will be paying $200.
The monthly payment on the house is $780
My plan was to take the $720 positive cash flow and put an additional $450 per month for my rent into a savings until I reach $5000 for a safety net then put the extra $1,170 towards the mortgage until it's paid off.
And find a second 4 family hopefully before the end of the year for a similar strategy