House Hacking

[Chris Conroy]

I am currently reading the book on rental property investing and had a question on the topic of house hacking. I was interested in doing this even before reading the book. I want to buy a duplex or triplex using a FHA loan. I will live in one unit and rent out the others. The plan is to do this while saving the cash flow on top of what I make. How long do I have to live in there before I can move out and rent it out since I will be using FHA loan? I have looked online and can't find an answer. Also, If I can do this, can I use an FHA loan on my next house for me to live in?

Thanks!

[Blair F.]

Chris Conroy you must live in the home for 1 year with an FHA. Additionally, you can only have one FHA mortgage at a time. Therefore you would have to refinance out of the FHA before you could get another one