Hey everyone I hope you all are doing well! I am new to real estate and just came across the term house hacking and I kinda understand the term but my question is if I could house hacking multiple houses at once. I I lived in on house and used the profit from the other tenants to fund another house could I house hack that one as well? If that’s makes sense or doesn’t let me know!
The answer is "no". Unless you found a 2nd home that you can purchase using seller financing you would not be able to obstain a second "owner-occupant mortgage" in order to house hack a 2nd home while you are in the "owner occupant phase" of your first mortgage UNLESS you have qualifying Change of Circumstance terms that the FHA accepts AND they let you use another loan on a house hack.
Even if you found a seller-finance property the pertinent question would be: should you live in it? Seller finance is wonderful precisely because of the flexibility and it's unlikely that you'd be required to live in it in order to obtain the fianncing.
So, no . . . you'll need to patiently and methodically approach this method of investing and build it over time :)
The idea of house hacking is you can buy with 5% down and live in it while renting out rooms in the house. You could do that and 2 years later, rent out the room you are staying in and buy another house repeating the process.
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