House hacking a different way?

2 Replies

Hello! I inherited a duplex. Current piti is $780 a month. I was thinking of buying a house for myself which the piti would be around $1133 for a combined total $1913 for both properties. The duplex will rent for approximately $2150, so essentially I'd cash flow $237 and live for free a month. This would not be taking into account maintenance, vacancy or taxes on the profit. 

Is there anything that I may be missing in this equation? 

Do you think this is a good idea? Why or why not? If not, what would you recommend. I'm not looking to acquire a large portfolio and leverage myself drastically.

Thanks!

You inherited a performing asset (business?). It’s not house hacking - it’s taking money off the table on a monthly basis to deal with your own expenses (your own house).

All of that is to say that it’s not the wrong thing to do. Imagine how much further you did a traditional house hack (another duplex)? Then you might actually be able to walk away really for free (after maintenance, vacancy, etc.)

@Dominick Marschall You basically just inherited a rental property and want a place of your own to live, rather than live in the duplex.

When you are asking if it's a good idea, are you asking if you should be living in the duplex as well or if you should buy a home instead? It all depends on your goals and it sounds like you do not want to actually house hack, so dont

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