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Updated 13 days ago on . Most recent reply

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Ryan Duphorn
  • Rental Property Investor
  • Richmond, VA
16
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Is it fair to be tired of house-hacking SFH's?

Ryan Duphorn
  • Rental Property Investor
  • Richmond, VA
Posted

I've been house hacking for almost 4 years in 2 different single family homes. I've essentially been living for free or very cheap now for these years. I have definitely piled up some equity in both houses and currently now rent out my 1st house hack to a family who are great tenants so that first 2 year house hack was a great success. I now live in one and starting to get tired of living with and recruiting "random" people to rent out rooms. People coming and going, using my $700-800 / room offering to stay here to live cheaply in either a housing transition, summer internship, job transition, etc. I feel like it doesn't get talked about much that it's not easy to recruit people who are clean, quiet, don't complain much, fridge space, cooking space, parking, utility usage, etc. I'm 27 now and itching to just get my own living space. House hacking is a great way to start in investing but I feel like I want/deserve to reap the benefits of my 4 year sacrifice and get my own living space but not renting. Ideally find a duplex or triplex and still house hack but just have my own space. I don't make much at my W-2 so honestly would be hard to qualify for a good duplex in a nice area. Most of the duplex's I'm seeing are in rough neighborhoods or very old and run down from tired landlords. I've thought about the idea of even buying a SFH and building an ADU on it but need to find a property with enough land to be approved from a zoning/setback standpoint and then would need to find how to finance the ADU build.

Regardless has anyone been in a similar situation where they've felt "burnt out" with house hacking? When did you decide that you've done your time with co-living and eventually just bought your own living space? 

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Henry T.
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interviewing possible roommates is definitely swimming in murky waters. Most of those  I knew, and didn't worry too much about their responsibility.  Once you're financially secure you can move away from it. You're doing great and congrats on your getting ahead. That's how it's done. I dont think the burnout ever goes away, whether its roommates or tenants in general, and with all this anti landlord stuff its even more stressful today. My tenants know I'm on the edge. "one little thing, sold" I tell them, but I've been going over 40 years now. Look at me sideways and I'll sell that building right out from under ya! haha! joking really. Keep rockin!

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