The multiplex - the first one, how do I move this mountain?
Hello BP,
How might one move into a multiplex, so that I may house hack? That is the goal for my first home purchase. Most of the duplex listings show in captions: "DO NOT DISTURB THE TENANTS." in plural. To me, that says to me that there is no room for me and my wife. Am I right in assuming that? If that's the case, what other options should aspiring house hackers look out for?
I believe most zero(or low) money down loans require buyers to move-in, but is it possible to purchase a duplex without moving in using a 5% downpayment? And if I choose to not to move-in at all, would it not be wiser to purchase a really good SFH(single family home) instead and rent that to cover any rent I'd be paying? I ask because there seem to be a lot more really excellent SFHs and for about half the price of a really good duplex. Logically it seems to make sense to buy the SFH, but somehow I get the sense that it would be a lot harder to continue the house hacking dream if I go the SFH route. Am I right or wrong about any of this?
Lastly, I want to end this post by sharing an inspiring message read by our pastor this morning when he spoke about moving mountains:
“Because you’re not yet taking God seriously,” said Jesus. “The simple truth is that if you had a mere kernel of faith, a poppy seed, say, you would tell this mountain, ‘Move!’ and it would move. There is nothing you wouldn’t be able to tackle.” - Matthew 17:20