Shorten the 1 year rule for house hacking

[Alec Fenner]

So I plan to house hack as many properties as possible in the shortest amount of time, but to get owner occupied financing you must live in the property for 1 year. My question, are their shortcuts or loopholes to this?

Like how it will take my 30 day to close on a house, and I have 60 day to move in after closing, can I begin closing on my 2nd property 9 months into the current house hack or will the lenders not approve me for another owner occupied loan until after the 1 year is up.

Any other advice would also be great appreciated, thank you!

[Joe Villeneuve]

Originally posted by @Alec Fenner:

@Joe Villeneuve

I see it as since I’m single and young with not a lot holding me to any certain location I’m not giving up very much ( in my situation) in order to receive the low down payments and interest rates, but I understand that 1 property a year is not going to allow me to scale up so I’m just seeing if there is a way to bump it up a little.

 You just rationalized what you want to do.  Don't.

If you want to "bump it up", you need to learn how to analyze RE markets, how money works and how to design a REI plan. All three of those things work simultaneously...each depending on the other two for success.

A - Market analysis tells you where to invest.  Find the Micro-Markets

B - How Money Works tells you How to invest.  Each deal in different Markets uses different strategies to make them work.

C - The Plan tells you when to invest.  The Plan dictates a set of criteria needed, at the timeline you are at in your plan.

D - Match the Market Profile, with the Strategy you use, with the Criteria dictated by the timeline in your plan.