Updated almost 8 years ago on . Most recent reply
House Hacking in the Philadelphia area
I'm looking to get into the real estate investing world soon. As a young man I think house hacking a duplex or triplex would fit me perfect and my plans going forward. I will be investing in Philadelphia and the surrounding areas. What is some advice you guys have about House hacking. I'd love feedback from anyone, but especially from someone who has done it before. Thanks everyone!
Most Popular Reply
I did it with a duplex but ideally you get a triplex or quad to live in. In most scenarios I analyzed living in a triplex, the two other units would completely pay your mortgage and possibly give you extra money in your pocket each month as well. Thus you’re living completely free in your own building and you get to build up your funds faster so that you can go purchase more properties in he future.
My duplex I used to live in.. the 1st floor was a luxury rental for my area and paid 2/3 of my total PITI each month! That allowed me to save more, pay down student loans, etc and get more real estate down the road
Best of luck!