House Hack: first time investor

[Stephen Betteridge]

I am looking to start my investing journey with a house hack. I am getting married in May of this year and have been saving up money for a place. I am looking to use my FHA on a duplex and am currently starting the search process. I have been using the rental property calculator to gauge whether or not these places would be good investments. Is there another way I should be analyzing these deals? Should I be following the same principles even though only one side/door will be collecting rent while I live in the other? I know I will still end up paying money, so what is a good amount to target for a mortgage payment (looking in the Philadelphia and surrounding areas). I am excited about this as an option because I know paying into some equity on a home that I own is way better than just renting. Then someday I can move on and rent out the other half!

Just some questions I have been thinking about as I start this process and begin taking my first steps towards financial freedom. Any tips, advice, ideas would be welcomed - thanks!

[Jonathan Dempsey]

Hey @Stephen Betteridge, congratulations on your upcoming wedding!   Househacking is a great way to start your investing journey.  You should analyze deals as if you were not living there.  Any deal that is solid with these terms should also be solid as a house hack.  One reason I am a fan of house hacking and the low down payment is how strict it makes the deal requirements.  If you can find something that cashflows well at 3-5% down, it will certainly be a cash cow with 20-25% down without having to buy the additional cashflow.