Updated over 4 years ago on . Most recent reply
House hacking: Established vs up and coming neighborhood
Hello BP community:
I am a rookie who's looking to do my first house hack with multi family units. I have a family of 3 kids so we need to pick a decent school district which up the purchase price. My question is - would house hacking be better with established neighborhood or up and coming? We are looking to do 3% down, owner occupied for 1 year and move on to the next but needs to stay in the same school district to minimize the impact to our kids when moving from one house to the next. We don't expect to cash flow in the first few years due to school requirement and hot seller market. In this case, would it be better to do house hacking in the established neighborhood because the rental value might be higher (quicker COC) vs up and coming with lower renter but equity build up could be bigger because of lower entry price.
Would appreciate your advice and pointers if I missed anything. Thanks.