I am looking to buy a rental property for the purpose of househacking (I'll be staying in it and rent all other rooms). My budget is about 500-650K. I work at MS Redmond office so I'd prefer to be in 50 miles radius. Any suggestions what places might be good for househacking? Thanks! TC: 250k
50 mile radius sniffs like H1B visa and not a citizen
lol. I am a citizen. Not sure why it's relevant for this post
Bruh your entire company is h1b
If you're going to do real estate you have to get to know the market. You gotta know what a neighborhood is good or find out in your own You can't show by the area you want only what you can afford. Look on redfin and use their drawings tool. Outline area by streat, or along freeways, etc. Notice how prices change. Look at citydata .org to get an idea about poverty unemployment crime rates. Get a rent estimator tool to figure out what area will bring in what rents...then you can calculate the expenses, such as taxes, insurance don't do this with sfh. May not be legal depending on where you are...go mfh. Also consider whonyou want to ren to to? Quiet family or a house of 10 students?
Former house-hacker here. I'm curious why your budget is 500-650k? You know you can get a home with as little as 5% down using conventional financing and 3.5% if you use an FHA loan (longer closing times). Your current budget might work if you're open to going to the edges of the Puget sound area (lower quality tenants) or if you get a home that needs some work.
5% down is good. But I dont see how $ million+ properties in todays rate will cash flow positive. Where did you househack before?
Pls also mention that there will be a mortgage insurance. Your post is misleading that one can get a home in 3.5% and not mention Mortgage Insurance
This is the first time I’ve heard this called “house hacking”. This is just another normal use of a house.
Who are you going to rent to with a 500k house? Local crack addicts?
Well. This was an extremely ignorant comment…….
I’m actually looking to do the same for a house in your exact same price range in WA!!! But im looking in Seattle instead
What kind of properties are you targeting in Seattle (is it close to downtown?) - condo/sfh/townhouse?
Looking to do houses in Seattle or tukwila-des moines. Townhouses… or a condo.
“House hacking”, lol isn’t that just a euphemism for “being a landlord”?
Op do you prefer north or south? North cane be as far as Monroe/Marysville/mt Vernon or south puyallup/Tacoma?
Horrible time to buy. Both rates and prices are high. Wait for at least one to come down
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WFH from a touristy location and Airbnb it
Trying to avoid pay cut due to salary adjustments. So I'd prefer WA
I meant a place like Leavenworth all within WA