Updated about 21 hours ago on . Most recent reply
VA Loan House Hacking - HELP US
Hey BP community,
My husband and I are just getting started on building our investment portfolio, and we’d love some guidance from experienced investors. We’re planning to use our VA loan to house hack our first quadplex. We’ve been actively searching for about six months, but honestly, we’re starting to feel a bit lost in the process.
We’re pre-approved up to $820,000, and while our main goal is to make a smart long-term investment, we’re okay with breaking even (or even slightly negative) the first year if the numbers and growth potential make sense.
We care about a good investment and don't mind breaking even for the first year. We have found a property but after running the numbers and renting out three and living in one , we would still be out of pocket roughly $1200/m of the first year.
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#2 Legal & Legislation Contributor
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#2 Legal & Legislation Contributor
- Real Estate Agent
- Kansas City
When you are house hacking a multi family you most likely won't cashflow while occupying, often it's negative. You are taking place of a tenant. House hacking as you live there is supposed to cut your living expenses to help you save. Once you move out it should cashflow. That in mind have you ran numbers with it being fully rented? Also is the $1,200 a month cheaper then paying rent? Also does the $1,200 bake in repairs, maintenance, etc?
- Caleb Brown