Alternative to House Hacking as a First Investment Strategy

Member since 2025 · 26 posts · 17 votes

Hello!

My name is Tomas Muller, a future investor in the Charleston, WV area.

I have been analyzing the local markets and have narrowed down a couple of local areas in which I would be interested in house hacking. I have my buy box (duplex or triplex, two beds, one bath), but I have struggled to find properties in the MLS that fit into those characteristics and are located in those areas. I haven't talked to a real estate agent just yet, since I am not quite ready and was using this as an exercise to identify the potential for this strategy where I live.

If house hacking was not an option based on the buy box I have developed, would you opt for a living BRRRR or a different starter strategy? I feel like there are distressed/outdated houses in the area, and BRRRRs could have potential as a first-time buyer strategy. Also, I am interested in implementing this strategy out-of-state in the future, so it could provide me with some level of experience.

If you were in my position, would you do something different when looking for a small multifamily property to house hack? Or would you move on to something that looks more suitable for my market (in this case, the living BRRRR)?

4 Reply

786 views

Most Popular Reply

Ashish AcharyaBusiness Member

CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes

2mo

Tomas, I don't think there's a wrong answer between house hacking and a live-in BRRRR. It really comes down to which strategy fits your market and your skill set.

If small multifamily properties that meet your criteria are genuinely hard to find, I wouldn't force a house hack just because it's the popular first strategy. A well-bought BRRRR can be a great way to build equity and gain experience, especially if you're comfortable managing a renovation. The key is making sure the numbers work before you count on appreciation or future refinancing.

I'd also think about the tax side before you choose. A BRRRR and a house hack can lead to very different deductions, depreciation, financing, and long-term planning opportunities. Picking the strategy that fits your goals from the start is usually better than trying to force one because it's what everyone else is doing.

One suggestion: I'd still talk to a local investor-friendly agent now, even if you're not ready to buy. They'll quickly tell you whether your buy box is realistic or whether it needs to be adjusted based on what's actually trading in your market.

Happy to connect!

[email protected]941-914-7779

INVESTOR FRIENDLY CPA®5240 Reviews

Website View Page

TaxMD® | Tax Planning Software

Website View Page

2 Reply

See this reply in the discussion

34 Replies

Jump to latestLatest

Sort by

Aaron ZimmermanBusiness Member
Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
2mo
No. I'd house hack. It has The highest odds of success in my opinion especially for newbies. You're trying to lower housing cost so worst case ideally youre breaking even on what you'd pay for rent but ideally you're saving something.
[email protected]
Brick House CPAs53 Reviews
Website View Page
0 Reply
- Tomas Muller
  OP
  Member since 2025 · 26 posts · 17 votes
  2mo
  Quote from @Aaron Zimmerman:
  
  No. I'd house hack. It has The highest odds of success in my opinion especially for newbies. You're trying to lower housing cost so worst case ideally youre breaking even on what you'd pay for rent but ideally you're saving something.
  
  Hello Aaron!
  That was my thought process, too. I read monetizing your primary residence can be a wealth accelerator.
  However, I found very little multi-family real estate in my area, and they don't really align with long-term my buy box. For that reason, I was exploring the idea of finding a compelling single-family property, and adding value to it.
  On the other side, we are paying a very affordable rent in a great area. Therefore, it'll be difficult to save money in the rent vs mortgage comparison, unless I buy a distress house that I can fix up and sell.
  I understand and appreciate your perspective and recommendation. I will keep looking!
  1 Reply
- Aaron ZimmermanBusiness Member
  Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
  2mo
  @Tomas Muller have you considered buying a sfh and doing rent by the room?
  [email protected]
  Brick House CPAs53 Reviews
  Website View Page
  1 Reply
Lacey S.
Durham, NC · Member since 2015 · 48 posts · 18 votes
2mo
In some areas, there just isn't that much multi stock. It's entirely possible the areas you want to live have very few, or none. Have you seen any that aren't for sale by driving the neighborhood's perhaps?
House-hacking is not the only way to be successful. You can also just buy a property soley for rental purposes; though I will acknowledge at today's prices/interest rates, it will be harder to cash flow that it was 10 years ago.
I started out by renting out a room in my home, that is another way you can house-hack! I did it less than two years, but the money it allowed me to save, was the downpayment on my first rental. Good luck!
0 Reply
- Tomas Muller
  OP
  Member since 2025 · 26 posts · 17 votes
  2mo
  Hello @Lacey S.!
  I have seen some multi- and single-family properties for auction, but haven't really found one for sale that meets my standards for long-term. After all, I am vetting the options based on something that will meet my targets and I would like to hold for the long term.
  I thought about starting directly with investment properties and bypassing house hacking, but I have read multiple posts saying it was the best way to get started.
  I appreciate your input and recommendations!
  1 Reply
G. Brian DavisPro Member
Investor · Hatboro, PA · Member since 2016 · 3k+ posts · 867 votes
2mo
Hi @Tomas Muller, I wouldn't necessarily abandon house hacking too quickly. Sometimes the issue isn't the strategy, it's that the buy box is too narrow. I'd broaden the search a bit, talk with a local investor friendly agent, and look for off market opportunities before pivoting. Some other things you can do is driving for dollars, networking with local investors and wholesalers and sending letters to absentee owners.
0 Reply
Jevon Shaw
Investor · DFW, TX · Member since 2022 · 198 posts · 161 votes
2mo
I second what Aaron said. I'd house hack. I've never executed a live-in flip, but I have done the work to try. The trouble (just like in all of real estate investing) is finding a suitable deal.
If you try to go with big box financing, there's a floor on how distressed the property can be. Yes, you can try FHA 203k, but contractors like to be paid promptly and most won't want to deal with the extra paperwork.
If you try to go with off market financing... you most likely can't. Hard money lenders typically won't lend on owner-occupied properties. That really only leaves private money.
I've done both flips and rentals, and with flips there's just too much that you don't know and can't predict.
The first recommendation I'd give you is to open your buy box a bit. C class neighborhoods aren't the best, but they do tend to cashflow better. If you're single with no kids and no wife, you may want to open your location options. Another option would also be to examine your city's zoning map and look for SFHs that you can convert to duplexes. I'm not sure how keen on modern city planning Charleston is, but look for mixed use zoning in addition to duplex zoning.
0 Reply
Tomas Muller
OP
Member since 2025 · 26 posts · 17 votes
2mo
Hello @G. Brian Davis
Thank you for the recommendation.
I designed a business plan to guide my rental portfolio and my investment decisions. Your input is valuable, since I was probably going to run into this issue later on with a narrow buy box. I have driven around and seen multiple multifamily properties, but none were for sale. There may be some opportunity in utilizing strategies to approach off-market deals. I read and heard about direct mail and wholesalers, so I will definitely give that a thought.
I appreciate the input!

1 Reply
Tomas Muller
OP
Member since 2025 · 26 posts · 17 votes
2mo
Hello @Jevon Shaw !
I appreciate you sharing your experience with flips.
I am trying to house hack with my girlfriend, and she had some priorities in terms of which neighborhoods she wanted to live in. I have my own buy box for deals, which contemplates C+ and B locations for my buy-and-hold properties. I have tried to expand my search, but the on-market options still look limited. \
I have yet to try off-market channels and use a real estate agent. This is mainly because I aim to purchase this property next year, and I don't want to waste someone's time looking at properties I am not interested in buying immediately. I was using it more as a research exercise.
I appreciate your recommendations and advice!
0 Reply
Rick Albert
Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
2mo
House Hacking is a good start into real estate investing since it is usually lower risk. There are a couple of things if you are struggling to find your next house hack:
1. Are your expectations realistic? For example go to Zillow, look up sold properties within the last 3-6 months and see if anything that has met your buy box exists. If properties have sold that would have met your criteria, then it is just about waiting or hunting a little harder. But if nothing has come up or it has but at a different price point, then it isn't the market, it's you.
2. If you are thinking of living for free, then it isn't likely to happen in this market (assuming you are putting less than 20% down). If the numbers work at 3.5% down, why wouldn't an investor pick it up at 20% down and likely could pay higher.
3. You have identified areas, but have you considered locations just outside of desirable areas? That way as the desirable areas get priced out, buyers and renters have to go somewhere. That's where your property come in.
4. Could you use your house hack as a financial vehicle to buy more properties? For example the numbers as a rental aren't exciting, but as an appreciation play you can get a HELOC to buy income producing assets. That's what I was doing for a while in Los Angeles.
Hope this helps. Good luck!
1 Reply
Tomas Muller
OP
Member since 2025 · 26 posts · 17 votes
2mo
Hello @Rick Albert
I appreciate your tips and recommendations. I went through the exercise of searching for similar prospects sold in the last 3-6 months and found duplexes and triplexes in the area I was looking at, and at accessible pricing points.
Price point is generally not a major concern, as it probably is in major metros such as LA, but these neighborhoods are highly desired, and opportunities seem to be acquired fast. These properties had few days in market and, therefore, there is virtually no room for negotiation. I will keep an eye on the properties that come up and, when I am ready to proceed, I will make sure to have everything in place to move fast if the property is a good choice.
I am open to any other suggestions you may have and appreciate your input!
1 Reply
Ashish AcharyaBusiness Member
CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
2mo
Tomas, I don't think there's a wrong answer between house hacking and a live-in BRRRR. It really comes down to which strategy fits your market and your skill set.

If small multifamily properties that meet your criteria are genuinely hard to find, I wouldn't force a house hack just because it's the popular first strategy. A well-bought BRRRR can be a great way to build equity and gain experience, especially if you're comfortable managing a renovation. The key is making sure the numbers work before you count on appreciation or future refinancing.

I'd also think about the tax side before you choose. A BRRRR and a house hack can lead to very different deductions, depreciation, financing, and long-term planning opportunities. Picking the strategy that fits your goals from the start is usually better than trying to force one because it's what everyone else is doing.

One suggestion: I'd still talk to a local investor-friendly agent now, even if you're not ready to buy. They'll quickly tell you whether your buy box is realistic or whether it needs to be adjusted based on what's actually trading in your market.

Happy to connect!
[email protected]941-914-7779
INVESTOR FRIENDLY CPA®5240 Reviews
Website View Page
TaxMD® | Tax Planning Software
Website View Page
2 Reply
Gregory AcsPro Member
Lender · MD · Member since 2025 · 203 posts · 83 votes
2mo
I wouldn't move away from house hacking just because you aren't seeing many properties on the MLS. Small multifamily properties tend to trade less frequently in some markets, and the best opportunities often come from expanding your search beyond what's actively listed. An investor-friendly agent can also give you a better sense of whether your buy box is realistic or if it just needs a slight adjustment.

If, after doing that, the numbers still don't work, then a live-in BRRRR can be a solid alternative as long as you have a realistic renovation budget and enough reserves for unexpected costs. The biggest advantage is that you're still gaining experience managing a renovation while benefiting from owner-occupied financing. I wouldn't force either strategy, though. The best first deal is usually the one that fits your market and your financial goals rather than trying to make a specific strategy work everywhere.

Out of curiosity, is your buy box fixed because of your budget, or because those are the properties that tend to produce the best cash flow in your market?

1 Reply
- Tomas Muller
  OP
  Member since 2025 · 26 posts · 17 votes
  2mo
  Quote from @Gregory Acs:
  
  I wouldn't move away from house hacking just because you aren't seeing many properties on the MLS. Small multifamily properties tend to trade less frequently in some markets, and the best opportunities often come from expanding your search beyond what's actively listed. An investor-friendly agent can also give you a better sense of whether your buy box is realistic or if it just needs a slight adjustment.
  
  If, after doing that, the numbers still don't work, then a live-in BRRRR can be a solid alternative as long as you have a realistic renovation budget and enough reserves for unexpected costs. The biggest advantage is that you're still gaining experience managing a renovation while benefiting from owner-occupied financing. I wouldn't force either strategy, though. The best first deal is usually the one that fits your market and your financial goals rather than trying to make a specific strategy work everywhere.
  
  Out of curiosity, is your buy box fixed because of your budget, or because those are the properties that tend to produce the best cash flow in your market?
  
  Hello Gregory!
  
  My fixed buy box is a combination of both. With a limited budget and having analyzed different types of properties, a duplex/triplex in these neighborhoods will provide a good combination of cash flow and long-term appreciation. Even though I am just starting, I want to focus on properties in attractive neighborhoods that I would like to keep for decades and whose CoC is above a certain threshold.
  
  I might be too rigid with my buy box and my requirements, but I heard repeatedly that bending your expectations is what gets people in trouble. I want to avoid that, precisely.
  
  I appreciate your input. It is very valuable to hear the opinion and warnings of other investors!
  
  Thank you!
  0 Reply
- Gregory AcsPro Member
  Lender · MD · Member since 2025 · 203 posts · 83 votes
  2mo
  Quote from @Tomas Muller:
  
  Quote from @Gregory Acs:
  
  I wouldn't move away from house hacking just because you aren't seeing many properties on the MLS. Small multifamily properties tend to trade less frequently in some markets, and the best opportunities often come from expanding your search beyond what's actively listed. An investor-friendly agent can also give you a better sense of whether your buy box is realistic or if it just needs a slight adjustment.
  
  If, after doing that, the numbers still don't work, then a live-in BRRRR can be a solid alternative as long as you have a realistic renovation budget and enough reserves for unexpected costs. The biggest advantage is that you're still gaining experience managing a renovation while benefiting from owner-occupied financing. I wouldn't force either strategy, though. The best first deal is usually the one that fits your market and your financial goals rather than trying to make a specific strategy work everywhere.
  
  Out of curiosity, is your buy box fixed because of your budget, or because those are the properties that tend to produce the best cash flow in your market?
  
  Hello Gregory!
  
  My fixed buy box is a combination of both. With a limited budget and having analyzed different types of properties, a duplex/triplex in these neighborhoods will provide a good combination of cash flow and long-term appreciation. Even though I am just starting, I want to focus on properties in attractive neighborhoods that I would like to keep for decades and whose CoC is above a certain threshold.
  
  I might be too rigid with my buy box and my requirements, but I heard repeatedly that bending your expectations is what gets people in trouble. I want to avoid that, precisely.
  
  I appreciate your input. It is very valuable to hear the opinion and warnings of other investors!
  
  Thank you!
  
  I actually think you’re approaching it the right way. A disciplined buy box keeps you from forcing deals, but I’d be willing to adjust the search before I’d compromise on the numbers. If you’re consistently not finding inventory, it may be the market telling you to widen one parameter rather than abandon the strategy altogether. Sometimes the best deals are just the ones you’re patient enough to wait for.
  
  0 Reply
Tomas Muller
OP
Member since 2025 · 26 posts · 17 votes
2mo
Hello @Aaron Zimmerman!
I have talked about it with my girlfriend and I don't think she'll feel comfortable doing that. If it was up to me, I'd have no issues.
1 Reply
Tomas Muller
OP
Member since 2025 · 26 posts · 17 votes
2mo
Hello @Ashish Acharya!
Thank you for the input.
That was exactly my thought process. I did not want to force a strategy that might not be suitable for my market. I have never managed renovations, but I was planning on doing most of the work for this one. My idea was to look at fixer-uppers that needed cosmetic work and renovations that could be done while living in it. Of course, if it came down to replacing the HVAC or other more comprehensive renovations, I was going to hire a professional and oversee his work. That would also help me for future projects, since the BRRRR is a strategy I'd like to implement.
I value the tax implications warning. I am an accountant as well, and I constantly keep the tax and compliance aspects of my future investing in mind.
Thank you!
0 Reply
Wale LawalBusiness Member
Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
2mo
@Tomas Muller
Be sure not to rush out of house hacking, since sometimes the perfect multifamily purchase just needs some time. In case the inventory in your market is indeed scarce, BRRRR while living on site may be a good option for you, but only if you are conservative with your numbers and the scope of work is suitable for you.
Good luck!
[email protected]832-776-9582 Podcast Guest on Show #469
NETWORTH BUILDERS5236 Reviews
Website View Page
0 Reply
- Tomas Muller
  OP
  Member since 2025 · 26 posts · 17 votes
  2mo
  Quote from @Wale Lawal:
  
  @Tomas Muller
  Be sure not to rush out of house hacking, since sometimes the perfect multifamily purchase just needs some time. In case the inventory in your market is indeed scarce, BRRRR while living on site may be a good option for you, but only if you are conservative with your numbers and the scope of work is suitable for you.
  Good luck!
  
  Hello Wale!
  Thank you for your input!
  The advantage I have is that I still need some time to execute this. I will definitely keep looking, waiting until the right opportunity approaches. My question is based on the large inventory of houses in the area where I live, which seem to be suitable for a value-add.
  I am aware of the complexity of managing comprehensive renovations. Therefore, in case I decide to move forward with a live-in BRRRR, I will probably search for a light renovation, something that can get me started in terms of knowledge and experience. Also, conservative underwriting is undoubtedly one of my core investment principles, so I will make sure my analysis stays on that end of the spectrum.
  I appreciate your comment and advice!
  0 Reply
Jordan RayBusiness Member
Real Estate Agent · Memphis, TN · Member since 2023 · 642 posts · 333 votes
2mo
Quote from @Tomas Muller:

Hello!
My name is Tomas Muller, a future investor in the Charleston, WV area.
I have been analyzing the local markets and have narrowed down a couple of local areas in which I would be interested in house hacking. I have my buy box (duplex or triplex, two beds, one bath), but I have struggled to find properties in the MLS that fit into those characteristics and are located in those areas. I haven't talked to a real estate agent just yet, since I am not quite ready and was using this as an exercise to identify the potential for this strategy where I live.
If house hacking was not an option based on the buy box I have developed, would you opt for a living BRRRR or a different starter strategy? I feel like there are distressed/outdated houses in the area, and BRRRRs could have potential as a first-time buyer strategy. Also, I am interested in implementing this strategy out-of-state in the future, so it could provide me with some level of experience.

If you were in my position, would you do something different when looking for a small multifamily property to house hack? Or would you move on to something that looks more suitable for my market (in this case, the living BRRRR)?

I think you're approaching this the right way by treating it as a market research exercise before jumping into your first deal. If your buy box is producing very few opportunities, I wouldn't necessarily abandon house hacking—I would ask whether your criteria are too restrictive or whether your market simply doesn't have enough inventory to support that strategy consistently. If that's the case, a live-in BRRRR could be an excellent alternative because you're still able to leverage owner-occupied financing while forcing appreciation through renovations. That experience will also translate well if you decide to invest out of state later. I'd spend as much time analyzing ARVs, rents, rehab costs, market trends, and the overall layout of your market as you do searching for properties. It's also worth learning about multiple markets in the beginning so you can compare opportunities and determine which one best aligns with your investment goals. Once you find that market, I'd recommend honing in on it, becoming an expert, and building your portfolio there before expanding elsewhere. One reason I like Memphis is that there are still opportunities to find properties that meet or exceed the 1% rule while also benefiting from appreciation over time if you buy in the right locations. If you eventually pursue the BRRRR strategy, local hard money lenders can finance 100% of the purchase and 100% of the rehab, allowing many investors to complete deals with around $10,000 out of pocket before refinancing into long-term financing. Most importantly, build your boots-on-the-ground team early—an investor-friendly agent who also owns rentals, a solid property manager, a reliable general contractor, and the right hard money and DSCR lending contacts. Having the right people around you makes every strategy easier to execute. Feel free to reach out, talk soon!
[email protected]662-642-1458
Jordan Ray - eXp Realty5112 Reviews
Website View Page
1 Reply
- Tomas Muller
  OP
  Member since 2025 · 26 posts · 17 votes
  2mo
  Hello @Jordan Ray
  Thank you for your input!
  I have met and read a lot of peopel who recommend Memphis, TN as a market worth looking at. I would definitely do that. I also appreciate your advice on what aspects of the market to focus and the contacts needed to build a solid team.
  I see most of the responses in the post guide me to be patient, and potentially expand my buy box slightly if the right opportunities don't arise. Most responses also highlight the need to build a solid team if investing out-of-state.
  I appreciate your valuable insights!
  Thanks
  1 Reply
Crystal SmithPro Member
Moderator
Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes
2mo
Quote from @Tomas Muller:

Hello!
My name is Tomas Muller, a future investor in the Charleston, WV area.
I have been analyzing the local markets and have narrowed down a couple of local areas in which I would be interested in house hacking. I have my buy box (duplex or triplex, two beds, one bath), but I have struggled to find properties in the MLS that fit into those characteristics and are located in those areas. I haven't talked to a real estate agent just yet, since I am not quite ready and was using this as an exercise to identify the potential for this strategy where I live.
If house hacking was not an option based on the buy box I have developed, would you opt for a living BRRRR or a different starter strategy? I feel like there are distressed/outdated houses in the area, and BRRRRs could have potential as a first-time buyer strategy. Also, I am interested in implementing this strategy out-of-state in the future, so it could provide me with some level of experience.

If you were in my position, would you do something different when looking for a small multifamily property to house hack? Or would you move on to something that looks more suitable for my market (in this case, the living BRRRR)?

I do not know what market you are but I'd find an investor friendly agent and expand your search parameters

1. Does the agent have access to pocket or private listings that you will not see on the Internet. If he/she has access then ask them to start sending you the private listings. (Note: Do this after you provide the agent with Proof you can close)

2. Work with your investor friendly agent to identify potential off market opportunities. Most agents have access to databases that contain addresseses and contact details for every property in the state and use algorithms to determine which property owners are probably open to selling. You can pay for systems to get access to the data or you can partner with an agent & then start contacting those off market deals with your pre-approval or cash proof of funds in hand. Expand beyond what's on the MLS.
312-681-7487
0 Reply
- Tomas Muller
  OP
  Member since 2025 · 26 posts · 17 votes
  2mo
  Hello @Crystal Smith
  I appreciate your recommendations!
  I am probably not in a position to close yet, but I have been looking at the listings in the areas in which I was interested, and the options seemed limited. The reason why I haven't contacted an agent is that I am not ready and I wouldn't like to waste somebody's time when I will likely not move forward just yet.
  I agree that using an agent can be a great advantage to find listings I don't have access to, and also for walking through the process with me and helping me understand how to navigate it. I agree 100% with partnering with your agent or someone who can bring you a great deal and be a reliable source of information to become successful.
  Thank you for your input!
  0 Reply
Bianca BarcelosBusiness Member
NH · Member since 2026 · 88 posts · 47 votes
2mo
Both are good options but I'd lean toward straight house-hacking as a first investment strategy. I'd ask why the multi's aren't panning out for you and maybe what you can do to fix that problem as opposed to abandoning the strategy because of that problem. Is it a financing problem or strictly buy box features, geography, etc.? Something to think about. Also, I always ask my clients what their personal goals are too - make sure you're comfortable with whatever situation you're putting yourself into financially and "emotionally" especially if its going to be your primary residence. Basically what is it worth to you to house hack? To BRRRR?
[email protected]
Bianca Barcelos, Real Estate55 Reviews
View Page
0 Reply
- Tomas Muller
  OP
  Member since 2025 · 26 posts · 17 votes
  2mo
  Hello @Bianca Barcelos
  I like your approach. I was reading one of the BP books, and Brandon Turner recommends switching the mindset by asking how to approach something that seems difficult or impossible. Asking the right questions will take me towards the correct path, and I appreciate your input and your approach with your clients.
  Before it becomes a reality, I will make sure to check how comfortable we feel with the property and the process. How do you help clients whose buy box is too restrictive? Also, how can you tell when the strategy is right versus when it isn't?
  0 Reply
- Bianca BarcelosBusiness Member
  NH · Member since 2026 · 88 posts · 47 votes
  2mo
  Ooof... now that's the question, right? How do you know when it's right? You might not. You sort of just have to jump in at some point! Get educated, make sure your numbers make sense, make sure it's comfortable for your life (family, financial, life-style, emotional - all of it) and then go for it. Make a deal! Stuff happens in even the most perfect, well-planned situations.
  
  Another thing on how I help my clients who have restrictive buy boxes - I will educate and guide as much as possible in the local market but at the end of the day, it's your deal and its your comfort level with that deal. So if your buy box is "too restrictive", your time line needs to be a little looser. Unfortunately you might find that it takes longer than expected to find the "right one" but you're defining your own parameters based on your comfort level so there's no wrong answer.
  [email protected]
  Bianca Barcelos, Real Estate55 Reviews
  View Page
  1 Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
2mo
@Tomas Muller
i think a live-in flip is an OK alternative to house hacking.
a pure flip or BRRRR is a very tough way to get started.
0 Reply
Tomas Muller
OP
Member since 2025 · 26 posts · 17 votes
2mo
@Nicholas L.
Yes, I agree. The live-in BRRRR can help ease the timeline and build some sweat equity into my first deal.
I am interested in doing BRRRR projects further down the road, but I understand that a full BRRRR project as a starting point can soon become overwhelming and get out of hand.
Thank you for your recommendation!
0 Reply
Jimmy LieuBusiness Member
Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
2mo
Quote from @Tomas Muller:

Hello!
My name is Tomas Muller, a future investor in the Charleston, WV area.
I have been analyzing the local markets and have narrowed down a couple of local areas in which I would be interested in house hacking. I have my buy box (duplex or triplex, two beds, one bath), but I have struggled to find properties in the MLS that fit into those characteristics and are located in those areas. I haven't talked to a real estate agent just yet, since I am not quite ready and was using this as an exercise to identify the potential for this strategy where I live.
If house hacking was not an option based on the buy box I have developed, would you opt for a living BRRRR or a different starter strategy? I feel like there are distressed/outdated houses in the area, and BRRRRs could have potential as a first-time buyer strategy. Also, I am interested in implementing this strategy out-of-state in the future, so it could provide me with some level of experience.

If you were in my position, would you do something different when looking for a small multifamily property to house hack? Or would you move on to something that looks more suitable for my market (in this case, the living BRRRR)?
Welcome to BP, Tomas! If your buy box isn't producing many deals, I'd first ask whether the criteria are too restrictive or if the market truly doesn't have much inventory. Sometimes expanding to a small single-family with an ADU, a 1-bed unit, or a nearby neighborhood can uncover opportunities you hadn't considered. I also wouldn't give up on house hacking until you've talked with a local investor-friendly agent, since not every good opportunity makes it to the MLS. If, after that, it still doesn't pencil out, a live-in BRRRR can be a great way to get started because you'll gain experience with renovations, contractors, financing, and managing a project while keeping your housing costs lower. The main thing is to pick the strategy that actually fits your market instead of forcing one that doesn't. Once you've completed your first deal, you'll have a much better foundation if you decide to invest out of state later. Happy to connect and answer any questions you have!
[email protected]614-300-7535
Jimmy Lieu, Red 1 Realty4.9120 Reviews
Website View Page
1 Reply
Vijay FriedmanBusiness Member
Miami, FL · Member since 2026 · 766 posts · 123 votes
2mo
Quote from @Tomas Muller:

Hello!
My name is Tomas Muller, a future investor in the Charleston, WV area.
I have been analyzing the local markets and have narrowed down a couple of local areas in which I would be interested in house hacking. I have my buy box (duplex or triplex, two beds, one bath), but I have struggled to find properties in the MLS that fit into those characteristics and are located in those areas. I haven't talked to a real estate agent just yet, since I am not quite ready and was using this as an exercise to identify the potential for this strategy where I live.
If house hacking was not an option based on the buy box I have developed, would you opt for a living BRRRR or a different starter strategy? I feel like there are distressed/outdated houses in the area, and BRRRRs could have potential as a first-time buyer strategy. Also, I am interested in implementing this strategy out-of-state in the future, so it could provide me with some level of experience.

If you were in my position, would you do something different when looking for a small multifamily property to house hack? Or would you move on to something that looks more suitable for my market (in this case, the living BRRRR)?

@Tomas Muller
I think you've already done one of the hardest parts by narrowing down your buy box and testing it against the local market. If house hacking opportunities are limited, a live-in BRRRR can be a solid alternative as long as the numbers still work after renovation and refinance. I'd focus less on sticking to one strategy and more on choosing the one your market supports best.
786-656-0387
DreamPoint Capital
Website View Page
1 Reply
Tomas Muller
OP
Member since 2025 · 26 posts · 17 votes
2mo
Hello @Jimmy Lieu
Thank you for your response!
I have been doing a deeper research and Charleston is an appealing market in terms of cash flow, with some concerning aspects, such as high vacancy rates or negative population and demographic trends. With that being said, it comes down to certain neighborhoods and areas that perform well, appreciate, and reduce the risk of long-term vacancies. Inventory is also tight now, and that might be a reason why I am not seeing as much SFH or MF availability within my buy box.
There seems to be a limited inventory of properties that work, and those fly off the shelves quickly. Talking to an investor-friendly agent would definitely help with this. My idea for the live-in BRRRR was also to gain hands-on experience in managing renovations and construction in general. My knowledge is limited in these areas, and favorable financing might allow me to achieve it without borrowing funds at high interest rates and squeezing my timeline. I would like to have the time flexibility and not be pressured by those holding costs as much.
Lastly, I think both strategies can work, and there is room for both. When the moment comes, and we're ready to move forward with the purchase, I would post about my progress and what path I decided on. I think the expierence of the first property would make a massive difference for the ones to come.
Thank you for your thoughts!
0 Reply
Tomas Muller
OP
Member since 2025 · 26 posts · 17 votes
2mo
Hello @Bianca Barcelos
That is very helpful.
I am working on the education aspect and getting comfortable with the numbers, even in an imaginary scenario. I agree that when the moment comes, jumping in is the best option, and that nothing will be perfect. I am someone who plans a lot and tries to stay in control of the situation as much as possible, and part of this learning process is giving up some of that. I think the more comfortable I get with my market and the numbers, the more I will trust myself and my analysis to pull the trigger on that first property. And also, that will probably teach me a lot for the future and encourage me even more.
Thank you very much for your guidance!
0 Reply
Tomas Muller
OP
Member since 2025 · 26 posts · 17 votes
2mo
Thank you @Vijay Friedman
I will definitely consider your recommendation. I want my first deal to be local for different reasons, and the best way to approach it is to adjust to the market instead of wanting to bend the market towards what I desire.
I appreciate your insight!
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.