I’m new to House Hacking but excited to start!

Greensboro, North Carolina
House Hacking
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I’m new to House Hacking but excited to start!

Christian Johnson
New to Real Estate · Member since 2026 · 4 posts · 0 votes

Hey Christian here I’m 28 & new to realtor investing. I can’t wait to start but scared at the same time because I only make 42k annually right now. So it feels impossible to start so I wondering if anyone had any ideas or suggestions on where I should possibly look for a multi family home around 175- 200,000?

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Vaibhav PuranikPro Member
Member since 2025 · 84 posts · 47 votes
2d

Look in your backyard! Your own city or neighborhood. The advantage with that is you might be able to manage it yourself and get good experience as well as save some money. If homes are beyond that range in your area, then only you should think about investing n other areas, especially when you are starting out.

[email protected]
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  • Vaibhav PuranikPro Member
    Member since 2025 · 84 posts · 47 votes
    2d

    Look in your backyard! Your own city or neighborhood. The advantage with that is you might be able to manage it yourself and get good experience as well as save some money. If homes are beyond that range in your area, then only you should think about investing n other areas, especially when you are starting out.

    [email protected]
    1Reply
    • Pradip Dhital
      Investor · Member since 2026 · 10 posts · 3 votes
      1d

      Hi Vaibhav,

      I was just listening your podcast in Real Estate Rookie channel. Loved your stories about accidental investments. Specially the one you knocked on the door three times and the whole story. Good meeting you here

      0Reply
  • Harrison C.
    Member since 2017 · 58 posts · 25 votes
    2d

    Christian, on 42k the thing that changes the math is renting by the bedroom, not finding a cheaper multifamily.

    a regular 3 or 4 bedroom house. you live in one room and rent the others to roommates, each person on their own lease with their own rent. thats how I run mine. my rooms go $600 to $775 each. three rooms at those rents is $1,800 to $2,300 a month. room rents near you may be different so check first.

    before you offer on anything, look up what single rooms near that house list for on facebook marketplace, times the rooms you'd rent, and put that next to the full payment with taxes and insurance.

    the catch is you furnish it, the utilities stay in your name, and you live with your tenants. and ask a lender early what income they will count, I cant tell you that part.

    what area are you looking in?

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  • Hossein Sharifi
    Technology · Member since 2023 · 79 posts · 36 votes
    1d

    At $42k, house hacking only works if the rooms clear the payment, not if whole-house rent looks okay on a blog. Before you tour: ask a lender what roommate income they'll count, price real room rents nearby rather than Zillow whole-home rent, and underwrite PITI, insurance, the utilities you'll keep in your name, and one empty room. Keep 3–6 months of the full payment in cash. Excitement is fine; the spreadsheet just has to work at today's rate with a room vacant.

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  • Joey BanasihanPro Member
    Investor · Boise, ID · Member since 2019 · 237 posts · 188 votes
    1d

    Hey @Christian Johnson

    [email protected]
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    • Joey BanasihanPro Member
      Investor · Boise, ID · Member since 2019 · 237 posts · 188 votes
      17h

      Haha - not sure what happened but apparantly when I tagged you in this post, everything else afterwards "was included in the tag" and never showed up as actual text. Sorry about that!

      [email protected]
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  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    1d

    Have you looked around your market to see what 2-4 units are going for? I'd start nearby and house hack. Also focus on increasing your income, that is a big lever in getting started.

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  • Austin GoetzBusiness Member
    Lender · Minneapolis, MN · Member since 2026 · 33 posts · 10 votes
    1d

    House hacking might be the best option for you to start. If the market allows, buying a duplex, living in one of the units and then renting out the other allows for you to keep your initial cost to get into the home lower and benefit by using rental income from the other unit as an additional income qualifier. Lowest down payment option is 3.5% through an FHA loan. FHA loans also allow you to receive up to 6% of the purchase price in seller paid closing costs. This is a big piece to consider especially if funds to purchase are more limited right now.

    If you have any questions or want to talk through the financing side, feel free to reach out.

    [email protected]952-797-2007
    Magnolia Bank
    WebsiteView Page
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