FHA Today Tommorrow, Forever

7 Replies

I have been doing a lot of research and I love the idea of house hacking. I know I have to live there a year minimum so this is my question.

Let's say I purchase a triplex that's a 2/1 on all 3 units and I rent out the other two units. Can I rent my other bedroom out in my unit and have a roommate as long as I'm living there?

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@Alishea B. one of my clients did this all the way through his house hacking career. He started with a two unit in Berwyn, which is one of the main areas we look in the Chicago burbs. He then house hacked a three unit and brought the room mate with him! He was able to pick up three properties before his girl friend finally put her foot down!

I have a client who is doing the same thing in Chicago, the reason FHA requires you to live there is because the assumption is you will better take care of a place you live in, so as long as your bed is in the building they don't care how many renters you have.