Updated almost 6 years ago on . Most recent reply
Multi family possible house hack
Hey everyone! Been a long time since my last post. Been working hard.
At any rate. I have an opportunity to house hack a deal.
Here’s the numbers lmk what you all think
Asking $245k
Purchase $219k
3 units total. 2 of which rented taking in $1300
The vacant unit will rent for $1350
Am considering FHA house hacking. Would only cost me 15k out of pocket w closing costs and down payment.
Live in that one unit for a year. Then move out and rent it.
Monthly payment break down goes something like this (30 years @ 3.7%)
P&I -$972.00
Taxes- $640.00
Insurance- $90.00
PMI- $90.00
Breaks down to roughly $1800 per month
Tenants pay own electric
It’s well and septic for water and sewer
Property has a 4 car garage as well. Really nice place. Think the 2 1 bedroom apartments rents are under value.