Burt M. Polson - Commercial Real Estate Broker

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House hacking - part 2

In part one we discussed my clients, Steve and Cheryl, who doubled their money using the house hacking technique in purchasing, managing, and living in one unit of their fourplex multi-family property.

House hacking is purchasing a two to four unit multi-family residential property, living in one of the units and renting out the others.

You too can be a house hacker if you have the passion for becoming a real estate investor and the fortitude of being a landlord.

The financial side of house hacking in Napa

If you find the right deal in the right location, you could have the tenants’ rent cover your monthly loan payments or more. However, in Napa, this could be difficult as we shall see why.

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House hacking - part 1

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?

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