Strategy for Duplex in Orlando

5 Replies

I am searching for a duplex to house hack with a mortgage in the north Orlando area (Apopka, Longwood, Altamonte, Ocoee) but the ones in my price range (under $130,000) are too far away from my job and family.  If I cannot find a duplex in my area what are alternatives as an owner occupant?  

Thanks for your help!

I have a bunch of Duplexes that I will be putting offers on today. 

@Tram Ambers "house hacking" is only a good strategy if you can buy a property where you want to live. There are many different ways to invest in real estate never choose one that will cause you to live somewhere that will make you unhappy. Perhaps a different investment strategy would help reach your goals?

I seem to have the same problem in NJ. A few RE agents have recommended that I get a co signer with more annual income so I can take out a higher loan and open up my options.

Originally posted by @Kevin Izquierdo :

I seem to have the same problem in NJ. A few RE agents have recommended that I get a co signer with more annual income so I can take out a higher loan and open up my options.

Since this is an investment property at some point in the future the idea would be to do an FHA Streamline refinance to remove your co-borrower from the loan unless you carry them as a partner once you move out of the property. You will still need to income qualify for the refinance.

If there isn't a large gap between what you can qualify for and the general market prices perhaps you can use a 203K loan and find a multifamily fixer upper at a deep enough discount.  

@?John Kent  thanks so much for the input. I was trying to find a property that only needed very light fixing up.

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