My first property and house-hack

My first property and house-hack

Member since 2018 · 1 post · 0 votes

Looking to buy my first piece of real estate. Its a duplex that needs a little rehab at least on one side to get a tenant in it. This would be my first property but also my residence. I will need an FHA or FHA 203k loan to help with the rehab cost since I don't enough to cover all the rehab. Is this a good idea for my first purchase?? Also, if this deal works, can I then refinance or get another loan when I want to move out and put a second tenant in the duplex??

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  • Real Estate Agent · Cupertino, CA · Member since 2016 · 4k+ posts · 1k+ votes
    8y

    All needs to be permitted inside. Suggest you call a loan official and show him photos. Interest rate is on the rise next week(99% likely).


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