House Hacking - Florida

[Ravi Patel]

Hi everyone,

My name is Ravi. I currently live in NJ and have aspirations to move to Flordia next summer and house hack. I have been reading into house hacking for the past year now so I have general knowledge. I currently live with my parents and have great credit. I would prefer to find a multiunit and live in one of the units with a less than 10% down payment. My job will be fully remote so I am open to location. I have been thinking about the Tampa/St Petersburg area since I would like to be near the water and an airport with direct flights to NJ. I would love to connect with any fellow current house hackers in Flordia or agents that can provide me with further information on preferred locations to do house hacks in.

[Jeff Copeland]

Generally, the only way to get financing with less than 10% down on a multifamily is going FHA, and unfortunately it can be very difficult to compete with cash and conventional offers when you are proposing FHA financing. 

FHA financing often comes with more appraisal issues and property condition requirements, which makes it more risky to the seller.