Have you ever considered an owner-occupied multi-family property? My clients Steve and Cheryl did, and it worked out well for them.
It seems that everyone is “hacking” something--house hacking has been around for decades, it is buying a one to four unit multi-family property, living in one of the units and renting the others.
Steve and Cheryl bought a four-plex ten years ago for 500 thousand dollars. It was a fixer-upper in need of upgrading and cosmetic improvements. Today the property is valued at double what they paid, and now the rent income had doubled as well from what it was when they started.
You may not see such a massive return as Steve and Cheryl, but with a bit of work in finding the right property at the right price, and securing the right loan, you may be able to come close.
What is house hacking?Read More