Best state for house hacking if you could move anywhere?

House Hacking
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Best state for house hacking if you could move anywhere?

Elijah Skinner
Member since 2021 · 11 posts · 10 votes

I'm curious to what everyone thinks.  Is there one area that is typically viewed as the best option for house hacking?  Are there a couple markets?


I know the consensus is "The best market is the one you're already in"  but I'm just curious.

If you could start over anywhere with a decent chunk of money and a solid house hacking strategy, where would you choose?

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Conner Olsen
Real Estate Agent · Austin, TX · Member since 2020 · 1k+ posts · 941 votes
2y
Quote from @Elijah Skinner:

I'm curious to what everyone thinks.  Is there one area that is typically viewed as the best option for house hacking?  Are there a couple markets?


I know the consensus is "The best market is the one you're already in"  but I'm just curious.

If you could start over anywhere with a decent chunk of money and a solid house hacking strategy, where would you choose?


Rule #1 of househacking is to like where you live. You can find cheap properties in every state. Personally I'd think more about quality of life you are looking for and if that market fits into your overall investing goals. For example: If you have an extremely high salary and low expenses you might not need cash flow and would perfer an equity growth market. On the flip side if an extra $500/month would drastically change your financial situation then go towards a more cash flow market.

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  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2y
    Quote from @Elijah Skinner:

    I'm curious to what everyone thinks.  Is there one area that is typically viewed as the best option for house hacking?  Are there a couple markets?


    I know the consensus is "The best market is the one you're already in"  but I'm just curious.

    If you could start over anywhere with a decent chunk of money and a solid house hacking strategy, where would you choose?

    I like Columbus Ohio because I see it being one of the biggest metropolitan cities in the next 10-20 years, all signs are pointing here! Population is growing aggressively and jobs are moving here especially with major employers like Intel, Google, Amazon, Nationwide, etc. On top of that, you have one of the biggest and best universities in the world here with Ohio State University. The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here. On top of that, you get great appreciation and very landlord friendly laws. Tons of investors are buying Columbus up! As an investor and agent here, let me know if you have any questions or want to connect

    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9120 Reviews
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  • Adrian Lammersdorf-SciollBusiness Member
    Realtor · FL · Member since 2020 · 227 posts · 101 votes
    2y

    I've been house hacking for about 3 years now in the immediate Orlando area (Maitland, and College Park) and appreciation has been very good to me.  I've earned about 150k in sweat equity alone, and had no problem increasing the rents on both of the properties I bought.  The landlord laws here are great as well, and prices aren't too crazy for a normal income.

    [email protected]561-305-2404
    Thomas Lynne Realty527 Reviews
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  • Lake Lutes
    Real Estate Agent · Fort Walton Beach, FL · Member since 2018 · 144 posts · 114 votes
    2y

    If you keep an open mind to house hacking meaning renting out part of your home or renting out an in law suite NOT just the traditional multi-family sense of the word, options expand dramatically. Here in NW Florida, there's tons of options to house hack really nice homes if you rent by the bedroom or separate in law spaces through MTR to military or traveling nurses. 

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  • Russell BrazilBusiness Member
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    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    2y

    Boston

    [email protected]301-893-4635Podcast Guest on Show #192
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  • Noah Loveless
    Realtor · Anchorage, AK · Member since 2019 · 20 posts · 11 votes
    2y
    Anchorage, Alaska
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