Updated almost 8 years ago on . Most recent reply
Would buying a house, and renting out rooms be a good start?
HI, I have a thousand saved up. I really want to get out of living in a room rental. Im throwing money away each month by renting from someone else. I want to get to a place where I can house hack and save more faster to invest in other houses. I found a house that is walking distance to a college. I plan to use a no money down purchase through my bank. calculating the costs, If I rent each room out, I could net about $500 a month. However the house is selling at the average going rate for houses, and the market is most likely to remain stable. My question is, would I be able to purchase other houses while I have this one, and what are your views on the way I'm going about this. what could I change?