Updated about 6 years ago on . Most recent reply
House Hack in college
Hey BP forum. I'm a college student in Arkansas and am current renting an apartment for around 900/mo (rent+all utilities). A 4b/2-3ba home can go for around the $100-$150 thousand range here.I have the credit and finances to obtain an FHA loan. My estimated mortgage is $650/mo+ another $500/mo in utilities, maintenance, capital expenditures, tax, insurance, all that good stuff. I can rent each room out for $600-700/mo. If I'm calculating correctly, I can cash flow around $500(more or less) a month. If the rooms do go vacant, I can pay all the expenses without any problems for as long as needed.In this situation, would you recommend this, or just save myself the hassle and jump into investing later on.
Thanks, and feel free to msg me on any ideas or similar experiences you’ve had/know of.