All Forum Posts by: Christin Nguyen

Hi Christin,

Welcome to the world of real estate investing, you are on the right path! When I'm looking at deals like this, I take into account the purchase price and renovations- $190k purchase + $150k (renovation costs often lean towards the more expensive side, especially for less experienced investors). So $340k all in, will the property rent for 1% of that?

You will struggle to find house hack deals that meet the 1% rule while you occupy 1 of the units. Not saying it's impossible but just less likely since you will be missing a big chunk of the income in the unit you occupy. The goal is to eventually move out and rent the unit you were living in right? I would add the market rent amount for your unit to calculate if it hits the 1% rule.

When you (eventually) rent both units, will they rent for $3,400 combined? If so, I would look further into this deal. Happy Investing!

Hi Christin,

Welcome to the world of real estate investing, you are on the right path! When I'm looking at deals like this, I take into account the purchase price and renovations- $190k purchase + $150k (renovation costs often lean towards the more expensive side, especially for less experienced investors). So $340k all in, will the property rent for 1% of that?

You will struggle to find house hack deals that meet the 1% rule while you occupy 1 of the units. Not saying it's impossible but just less likely since you will be missing a big chunk of the income in the unit you occupy. The goal is to eventually move out and rent the unit you were living in right? I would add the market rent amount for your unit to calculate if it hits the 1% rule.

When you (eventually) rent both units, will they rent for $3,400 combined? If so, I would look further into this deal. Happy Investing!