House Hacking ideas

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House Hacking ideas

Ondrej Brown
Rental Property Investor · Cleveland, OH · Member since 2019 · 150 posts · 47 votes

What are some strategies for House Hacking a SFH using a FHA loan ?

My main idea was to get a duplex first rent the bottom live in the top using FHA loan. But I also knows their some good SFH , that could bring some good revenue in as well. Wanted to hear out some ideas

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Tyler GibsonBusiness Member
Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
6y

@Ondrej Brown you can use FHA on 1-4 unit properties less than 400k. If I were doing it all over again I would have used my FHA on a 4 unit. It has the highest gross rent potential.

[email protected]407-590-9858
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  • Tyler GibsonBusiness Member
    Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
    6y

    @Ondrej Brown you can use FHA on 1-4 unit properties less than 400k. If I were doing it all over again I would have used my FHA on a 4 unit. It has the highest gross rent potential.

    [email protected]407-590-9858
    GPG Team 598 Reviews
    WebsiteView Page
    2Reply
  • Vanessa Duguerre
    Flipper/Rehabber · Boston, MA · Member since 2019 · 20 posts · 6 votes
    6y

    @Ondrej Brown this isn’t typical but I actually host exchange students. I have two and they each pay $1300 per month. My mortgage is $2400... I have to take them to school and provide meals but it’s so easy. Great way to start.

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  • Ondrej Brown
    OP
    Rental Property Investor · Cleveland, OH · Member since 2019 · 150 posts · 47 votes
    6y

    @Tyler Gibson Thank You Tyler , did you ever do any rehabbing with your FHA loan . Are did you find a pretty decent looking one that didn't need to much work?

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  • Account Closed
    Rental Property Investor · Belgium, WI · Member since 2015 · 53 posts · 54 votes
    6y

    Is there a market for renting bedrooms in a sfh in your area? 

    Also, I would look into a low money down conventional mortgage, itll give you a stronger offer as a buyer. I've heard of realtors passing on FHA offers because of the added hassle.

    Good luck!

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