Hello all. Any investors in Cincinnati that has any idea what area is good to house hack in!? Thank you.
@Jarrod Haley my opinion of house hacking is to start somewhere you want to live. You will be living there, so that would be my first criteria. In today’s market, you won’t be funding any steals, generally.
But once you define where you want to live, and have a budget, then start looking and working the numbers. A realtor like @Slocomb Reed can be a great asset, as he works with rentals and investors a lot.
As you are looking start with the numbers overall. Will they work as an investment property? Then take out your piece of the rent. You should end up in a position where your net is better than your current situation. I.e. property cash flows $300/mo if all units rented. You currently pay $800 for rent, so net outflow is -$500. When you back out the unit that you will living, if your net cash flow is better than $500 outflow per month, you are doing well. And when you move out you have a cash flow positive investment property.
@Evan Polaski Thanks for the advice, thank you!