SF or MF House-hack??

Starting Out
11yFollow

SF or MF House-hack??

Amber Koontz
Houston, TX 路 Member since 2015 路 204 posts 路 68 votes

Good Evening 

I have an idea of of the strategies I'd like to use for investing, but my situation is a little complex. I'd like to house hack. My initial idea was to purchase a duplex, stay for the yr required for FHA loan, refinance, and repeat. Because I will be housing my mother I will not see cash flow. I have no problem covering the mortgage. Following my plan I'd move after a year. Tenant screening could ensure someone good becomes her new neighbor, but now I am thinking of another approach. I'm thinking, maybe I'll get a house that I can add value to, mom will stay there and I will leave a year later. Next I will house hack a duplex. That way my mom is in a set environment and I'll be the one moving.

Could this work out?

What would you do?

0Reply
19 views

3 Replies

Jump to latestLatest
  • Ricardo S.
    Flipper/Rehabber 路 Atlanta, GA 路 Member since 2014 路 166 posts 路 88 votes
    11y

    Are you single?

    The reason I ask this is because you can get the Duplex and share a unit with your mom for 1 year and rent out the other. That way it will help you save for another investment much quicker with the extra income. Then move

    or

    Get a distressed triplex and add value to it using an FHA 203K loan.

    0Reply
  • Amber Koontz
    OP
    Houston, TX 路 Member since 2015 路 204 posts 路 68 votes
    11y

    @Ricardo S. I am single with no kids. I really like my space, but maybe I'll take that into consideration. It's basically the same deal that would happen if I bought a SF and stayed for a yr. Thanks for a different view. 馃憤 I have to work on pros and cons.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free