Updated over 5 years ago on . Most recent reply

Is “house hacking” ilegal?
I think I just screwed up talking to a realtor. I said I wanted to "house hack" a property, but the realtor told me that's illegal, because I have to own it for at least a year or two with FHA. Im confused, did I just talk too much? I'm planning to buying a duplex live in one unit and rent the other one out? I live in Colorado i'm trying to network and build my team but I don't know exactly how to approach a realtor. Can somebody tell me what questions should I ask?
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- Rock Star Extraordinaire
- Northeast, TN
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No, it's not illegal. The realtor may have thought you meant you'd buy the house FHA but not intend to live there. That's illegal. You have to occupy the property for at least a year. You can then move and buy another property. Lots of people do this with duplexes, triplexes, etc.
- JD Martin
- Podcast Guest on Show #243
