All Forum Posts by: Gerardell Brown

Hey @Gerardell Brown,

These are two great strategies you're combining. You will be house hacking and benefiting from your primary loans. These methods will allow you to use leverage for a large asset, reduce living expenses, gain appreciation, and benefit from loan amortization. 

If the house hack is drastically reducing your living expenses and you like your living situation, then you don't necessarily need to be in rush to turn it into a rental. Also, I'd make sure your investments pencil out to still cashflow even if you took yourself out of the equation. This will give you more options to rinse and repeat house hack formula, stay put, or move/continue to rent out. 

Good luck with your investing journey!

-Ant

I've done this too and it's a great strategy. Have you talked to a few lenders yet about your financing options? When you say you're trying to figure out how to structure your deal, do you have any specific questions we can help answer? 

Hey Gerardell - This strategy is indeed effective and to one of the previous comments, staying there for two years will qualify you for the section 121 primary residence tax exemption at the time of sale. 

Curious how you and your friend will be managing the financial contributions and ownership structure? Is he just going to pay half the mortgage in the form of rent are is he going to hold equity/title in the property?