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Updated over 5 years ago on . Most recent reply

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9
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1
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Thomas M.
  • Niagara Falls, NY
1
Votes |
9
Posts

Using a 203k rehab loan

Thomas M.
  • Niagara Falls, NY
Posted

I am currently looking for multifamily housing so that I can house hack it. I will be using a 203k FHA loan with a 3.5 percent down payment. I have to live in the house of a year which is fine with me. However a lot of the homes I am looking at are fantastic investment opportunities with my rate and low down payment. However with me living in one side and renting out the rest I get negative cash flow but something I can afford if need be. I know after the year of me living in the home the houses will cashflow great and will be amazing investment properties. my dilemma is going into a house now with negative cashflow for the anticipated cashflow in the future. * the areas of these homes have either high taxes which eats at my cash flow when I live in it, or are in a grossly competitive market*

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