House hack duplex Fha or fha+203k

2 Replies

Just curious if anyone has any experience with this. I have a duplex under contract and plan on house hacking. The upstairs tenants will be there until February, but the downstairs I plan on moving in and making it all brand new (I work with a flipper so it will all be done in house) my question is should I go strictly fha or fha with 203k to pay for the Reno? The receipts won’t be an issue working with the subcontractors at work. Just trying to get some constructive feedback. Thank you in advance.

@Eric Winters - To me, that's really going to depend on what you need? Do you need to finance the repairs or can you pay out of pocket. IMO, I'd rather pay out of pocket if I have it rather than pay interest on it (I know people can argue this because you could use it for another deal) but those circumstances I'd think would dictate what route you choose?

Also, with the red tape involved in 203k, I'd rather go out of pocket in that sense too!

yes I know there are hoops to jump through but doing it myself eats up all my cash 

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