Updated almost 5 years ago on . Most recent reply
FHA Quadplex house hack- buy or no?
Thoughts on this deal?
HouseHack a quadplex with FHA loan.
$360k price
Rents- $1032 per unit
Annual insurance $1884
Annual Taxes- $10,047 (property and school)
Fha at 3.5% down will put me in at approx $2800 payment. Other 3 units will be 3,096 per month for first year. After first year will move out.
Built in 2008 and units in great shape; very little work needs to be done. In rural area so won’t see much appreciation but seems as though it will be positive throughout life of ownership.
Buy or no?