House Hack in Tampa Bay area

[Matt Smith]

I bought a 3/2 newly renovated SFH in New Port Richey for 265k. My plan is to house hack. For those of you unfamiliar with the area, its an up and coming area due to Hillsborough and Pinellas counties being too expensive. So everywhere near New Port Richey is being developed and moved into. Lots of growth expected in the next 5 years. I can expect to get tenants in each room for around $800-$1000/m which would be really close if not cover my mortgage. I also plan to either airbnb or rent out my current home which should generate around $600-$1000 cashflow. Thoughts?

[Josh Green]

Quote from @Matt Smith:

Quote from @Ryan Thomson:

@Matt Smith Sounds like a great plan. Not sure what other thoughts you want. Seems like you have a great exit plan for your current house. I like the research you've done on the market. Clost to covering your mortgage is a serious win! Nice work. Keep thinking about how to scale. 

 

I guess i'm also wondering if this is the best time to buy? Not too many people out there speaking about the challenges in this market and what not to do.

Timing the market in real estate is simple: buy as often as possible, buy only positive investments, and time the refinance when rates come down.  Real Estate will continue to climb and climb away from the middle class.  Tampa Bay will be a leading metro over the next 10-15 years in appreciation no doubt.  Margins for investors will continue to trend down over the long run.  Keep hustling, keep learning, keep taking action, and you'll look back happy you did so.