First house hack deal

[Orane Jacobs]

What do you guys think about this deal in Jersey City. I will be using it as a house hack. It is a duplex 4 bedroom 2 bath listed 480,000. 2.5 bedroom 1 bath on first floor rented for 1650 and the second floor 2 bedroom 1 bath rented for 1400. It has a basement but it is not finished. The property tax will be 4,971 annually. Will be using Va Loan so I will be putting zero down. Just have to cover closing cost.

[Anthony Jeffers]

Based on your numbers, the rent of one unit will not cover your cost. A house hack ideally having your expenses paid by the tenants and you live rent free. Have you considered a bare bones renovation to the basement and live there, rent out both units, use the additional rental income to upgrade the basement. Results: Increased cash flow and if you move on to another house hack, you have a place to stay or turn it into storage and laundry amenities to the tenants, further increasing cash flow.