House hacking in Birmingham Al

6 Replies

Hello all, newbie here looking to get started via house hacking. Stay in the 35205 area but wanted opinions from an investor standpoint on how feasible it is to househack in the surrounding areas. Have found duplexes etc that are less pricey and the numbers work but is it worth it? Doesn't seem possible to buy in the 35205 area which for me is a goal also.  Any help would be greatly appreciated. 

Jacqueline, 


35205 would be one of the most ideal areas to do that. most of the small multi family deals happen off of the MLS, and when they do come on the MLS they sell immediately. branching out from 35205 will Either put you in higher priced communities that have far fewer multi family properties, or in lower income neighborhoods with much lower property values but a decent amount of small multi family. I looked at a big triplex just last month that was a pretty good opportunity, my client had just gotten a contract on another property or he would've made a move on it.

@Jacqueline Jackson

Every market is different. In Birmingham, house hacking most likely looks like buying a single family house in a fast appreciating area (like 35205) and getting a roommate to help with the mortgage.

Put a minimum down-payment down, and let the benefits of property ownership take over.

My wife househacked without knowing what that was. She'll even admit, she overpaid for the property. But she turned a 4k down-payment into cashflowing single family rental with 60k of equity in about 8 years.

Not a cash cow, but super easy to manage. In the next few years, we'll 1031 exchange that house into an apartment building or a beach house.

Nothing fancy, just owning quality property over time, and having tenants pay for it.