Are you ready to Text or Call on how to cash flow with house hacking your Minnesota rental next month?
What’s becoming very popular in Minnesota these days is to buy a duplex, triplex or 4 plex and do house hacking.
The reason for this is that as a homeowner living in your home you get to have the other renters pay you for the mortgage which can allow you to live very affordably.
Sometimes you add a bedroom or an egress window after you buy the home to make this happen.
This is a great way to learn investing. Some choose renting out rooms to roommates, some do long-term rentals and others do Airbnb.
Generally speaking 3 bedrooms rent out for a lot more than 2 bedrooms and accommodate a much larger audience and demographic.
Buying your first property this way up to a residential 4 plex can make it much easier to purchase because youbb NBC will need much less money down.
At this time 100% financing or 3.5% down, where as buying an investment property is 15% to 20% down.
Also when you own the home 2 of the last 5 years you get a great tax advantage. Look up universal tax exclusion.
In the uncertainty of environments in today’s world house hacking really lowers your monthly payments and risk for income.
To learn more text me on Instagram and let’s talk.