We're moving to Dallas for work in the upcoming few months and wanted to get into a house hack situation. Does anybody have any experience with duplex/fourplex in the Dallas or surrounding areas? From my research I've noticed that rent doesn't justify home costs, but wanted to get a feel for other's experiences in that market.
2-3-4plex will be tough to hack in DFW area. Not impossible, but tough. Very few of those on the market...and what is available, doesn't always make sense financially. It also somewhat depends on where you want to live and what you are willing to live with.
Probably the best option I see today is to buy 4bed/2 or 3 bath and rent bedrooms. You might be able to get $600-$750/bedroom and split utilities. That might not cover all your expenses, but might get close and allow you to live cheaper.
I’m hacking right now. Numbers aren’t the best but it works for me.
Mortgage: $3,350 includes $200 of PMI
Renting one side for $2,500
Zip code is 75229. There are a few very nice full duplexes in 75229 and 75230. Very prime location.
Lower Greenville has a few duplexes too. Richardson too.
Message me if you’d like to chat!