Updated over 7 years ago on . Most recent reply
Advice for a house hacker?
We are finally closing on our duplex this month!!! We are keeping our single family home and renting it out for 900$ per month--no this doesn't give us cash flow at all...but the mortgage is paid and we have a small cushion. The duplex's mortgage will be covered all but 98$ by the upstairs tenant. We increased the rent from 275$ to 500$ for the upper tenant which he agreed to. He was a family friend so was getting a great deal! The lawyers have the lease and the tenant has agreed to it. So all in all we should be paying about 98$ to live. Utilities are split at the duplex and the water and sewer are well and septic. We will be putting money in savings for capex etc as well. Currently our mortgage is 840$ a month so we definitely have cushion there.......just looking for opinions and advice!! thanks!