House Hack for Beginners

1 Reply

Hello,

I'm currently looking at buying a multi family home to live in one unit and rent out the other. Aside for the repayments on the home does anyone have any advice regarding extra costs with holding or repairs etc. Obviously many costs are unexpected and can be difficult to quantify. 

Thanks,

Tim

Insurance, property taxes, which are very easy to look up on your own.  Also probably ~8% of rents for repairs capex depending on the age of the property and about 5% for vacancy depending on the area.  Also utilities if you are responsible for paying them.