House Hacking in Western New York

Buying a two-family or small multifamily and living in one unit is one of the most approachable ways to start investing in real estate.

The idea

Live in one unit, rent the others

House hacking means buying a property with more than one unit, living in one and renting the rest. The rent can offset your housing cost.

Why people do it

It can lower your monthly housing cost and let you learn landlording with a smaller step than a full investment property.

What to check

Rents, unit condition, who pays utilities, parking, noise and privacy, and how the building is zoned.

Financing

Owner-occupied loan programs may allow smaller down payments. Eligibility depends on the lender and program, so ask a lender about the current rules.

Being the landlord

You will handle repairs, tenants and records. Learn the landlord-tenant rules or hire a manager.

Risks

Vacancy, repair costs and difficult tenants are real. Keep reserves and run the numbers conservatively.

Resale

A two-family may appeal to both owner-occupants and investors, which helps when you sell.

Run it first

Use the analysis calculator with realistic rent for the units you would rent out, and include a repair cushion.

We will help you find and evaluate one.