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Updated almost 4 years ago on . Most recent reply

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Aaron Heers
  • New to Real Estate
  • Dallas, TX
11
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34
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Can anyone share a solid house hack story in Dallas?

Aaron Heers
  • New to Real Estate
  • Dallas, TX
Posted

I want to house hack to kick off my investing portfolio, but am unsure of the route to take or if it even works well in the Dallas area.

Thank you,

Most Popular Reply

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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
4,596
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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
Replied

You buy a 4bedroom 3 bath house...stay in one room and rent the others to your friends, family, work colleagues, or others.   You will probably still need to contribute rent on your bedroom, unless you get lucky.  Plan on it, but if you don't have to it is a bonus.

Bank some cash now before you buy so you can make competitive offers.

While maybe possible, I think it is very very tough to do what you might have heard on the podcasts about buying a 2-3-4plex, living in one unit and renting the others and living for free. Prices and rents probably don't support that idea for the most part in DFW right now. The idea of getting an FHA loan to do this is also probably not likely as there is a lot of cash chasing multi right now.

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