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Updated about 7 years ago on . Most recent reply
Chicago Newbie - buying 2-flat as owner occupied
Hello everyone,
I have been on BiggerPockets for a while, but only as an observer. I have been renting in the downtown area and now ready to buy something, but want an investment instead of just a condo. I'm looking at 2-flats.
I know how to shop for a condo, but wondering what qualifications I should use for an owner-occupied property (house hacking). Is it the 70% rule?
I appreciate any tips or suggestions. Thanks a bunch!
Natalie
Most Popular Reply
@Natalie Grimaldi 2 flats are hard, they property will likely not cash flow and cost you money. You should be looking for 3+ units.
What areas are you looking in?
- Brie Schmidt
- Podcast Guest on Show #132
Second City Real Estate
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