Possible to House hack on FHA
Hello my Name is Dave Diaz and live in the central Pennsylvania area. This is actually my first post on this site but, trust me when I say I do spend a lot of time reading each post and learning a lot. I am planning on purchasing my first investment property ( first property in general) and I am planning on buying a duplex with a FHA loan and house hack it and live in it for the full year. I do want to implement the BRRR strategy so I can buy a triplex the following year, but I am not sure if I will run into problems with refinancing the property with so little down. I know I have to buy the property right and make sure it has good ROI but is this possible ?
Most Popular Reply
@David Diaz defenantly possible as that has been done by many people.
Usually people would pay down the mortgage and refinanace in a few years.
I believe with FHA loan, after a year you could move out of the unit you live in and rent it out.