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House Hacking

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Brandon Persell
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Advice for house hacking in Upstate NY

Brandon Persell
Pro Member
Posted Mar 4 2024, 09:59

I am looking into purchasing my first property using an FHA Loan and doing a house hack. There are not many multi-family options available in my local area, and the ones that are available are overpriced or the current rent rolls are extremely below market average($200-$400 per unit). Looking for some insight if I should wait to purchase in the hopes of more multifamily properties becoming available in the future, if I should make an extremely low ball offer on what's currently listed. Or lastly how to go about raising the current tenants rent as I take over ownership of the property or maybe some type of vacancy clause before taking ownership. Any advice/insight is greatly appreciated as I am eager to start this process.

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