Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
House Hacking
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago on . Most recent reply

User Stats

4
Posts
9
Votes
Danny Sanchez
9
Votes |
4
Posts

Advice on how much cash to have on hand for House Hacking

Danny Sanchez
Posted


Hi everyone! I've been saving up for my first property purchase, specifically aiming for a duplex. This summer is when I hope to purchase. I've been doing some research for a while, but I'd really appreciate advice from people who are already house hacking. After buying the duplex, how much money should I have set aside? Let's say the duplex costs $240,000, and it's in a decent neighborhood, but it's not in perfect shape, maybe around a C+ shape. (assuming because that's what that price would most likely get you) How much extra cash would you recommend having on hand AFTER buying the duplex? What should one be ready for and what is something to have in mind?

Most Popular Reply

User Stats

120
Posts
110
Votes
Charles Granja
  • Rental Property Investor
  • Kansas City/Chicago
110
Votes |
120
Posts
Charles Granja
  • Rental Property Investor
  • Kansas City/Chicago
Replied

At least 3-6 months of reserves.

Expect to lose probably 2 months of rents when you close, 1 month vacancy, 1 month leasing fee, and to spend 1-2k to make the unit rent ready. 

Loading replies...