Updated over 5 years ago on . Most recent reply
Philadelphia House hacking
I work in Philadelphia Pa. and I am required to live in the city. I am looking to purchase a duplex and live as close to rent-free as possible. Some of the multifamily properties for sale in what I would consider low-class C to D neighborhoods are asking $200,000 and up for areas, I would be comfortable living (I have lived in the city my whole life so my tolerance is a lot higher than some). I would like to go FHA to keep my out of pocket as low as possible and do some property repairs, but not a full rehab. Any suggestions on what my next step should be?
Thank you
Most Popular Reply
@Stephen A Jacquindo hey what’s up Stephen yes I went through the process and from my experience 4 plex is the best leverage of being rent free . You would need to get pre qualify from a bank on a fha Loan which is pretty easy because the other three income counts as your income let me know if you need anything or any specific questions