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Updated 6 days ago on . Most recent reply

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Andrew Garcia
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Should I self manage a multi family?

Andrew Garcia
Posted

Hello,

I want to house hack for my next investment. Don't have all the details worked out yet, but I've heard it's a great wealth-builder strategy and a great way to build more capital for the next investment. 

I've just been thinking about whether it's wise to self-manage for safety and privacy reasons. What if I have to evict  someone that technically lives under the same roof as me... or simply just sending a "Notice to Comply" I feel could create tension.

Please let me know if you're someone who has self-managed a house hack and was it worth it? Or should I start factoring the expense of a PM? 

Thanks!

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Jonathan Greene
#1 Real Estate Agent Contributor
  • Real Estate Consultant
  • Mendham, NJ
7,654
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Jonathan Greene
#1 Real Estate Agent Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

Having property management when you are house hacking would be like hiring a cleaner if you owned a cleaning company. No. If you haven't done it before, you want to learn how to be a landlord. House hacking is also way harder to cash flow with mortgage rates, so you need all the profit you can get.

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