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House Hacking
Travis Kumar's profile image
Travis Kumar
Pro Member
  • Member since May 7, 2022

User Stats

5
Posts
5
Votes
Travis Kumar's profile image
Travis Kumar
Pro Member
  • Member since May 7, 2022
Travis Kumar
Pro Member
5
Votes |
5
Posts

Buying a 4 unit, and adding a unit. First time house hacker.

Travis Kumar
Pro Member
Posted Nov 1 2023, 15:12

I am currently looking to house hack a multi-unit property in MD, VA, PA. I just submitted to a few lenders recommended here, and have begun speaking with realtors. My question is, some properties I see have 4 units that are currently rented. They then also have space I can convert. Cash flow is very hard to find, but they look like opportunities to force equity and cash flow. Assuming i can get the permits, can i buy a 4 unit, rent all 4 units, and convert the basement to a live-able space for me? Does this then turn it into a 5 unit, or once i purchase, I am free to do this. If I should be thinking about this problem differently, I am open to all insight. I know there are other ways to make money, and cash flow isnt everything, but I think if I can convert an area and rent current units, I will be further ahead. Thanks in advance for any feedback.

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