House Hack - Rental Property Calculator

2 Replies

Hi BP Community,

 I'm looking to invest in a multifamily property for a house hack and running numbers in the BP Rental Property Calculator. Without getting into all of the numbers for this particular fourplex, does it make sense to include the rental "income" from the unit that I will be living in? Technically I'm not paying myself this money to live there, but I'm also not paying another landlord to live in their unit. 

Thoughts? 

Originally posted by @Account Closed :

Hi BP Community,

 I'm looking to invest in a multifamily property for a house hack and running numbers in the BP Rental Property Calculator. Without getting into all of the numbers for this particular fourplex, does it make sense to include the rental "income" from the unit that I will be living in? Technically I'm not paying myself this money to live there, but I'm also not paying another landlord to live in their unit. 

Thoughts? 

 Feel free to do it either way, the only difference is that one calculation is true in the present and the other will be true when you move out. Whichever way you choose to do it, make sure you stick to that method across the board so that you are comparing "apples to apples" with other properties. I.E. don't run it as if you weren't living there on one property, then compare that against the numbers of another property where you ran it as if you were living there.