First-time buyer grants

7 Replies

Has anyone use a government grant for there first property?

I been thinking about using a government grant for my first investment. I heard from a podcast that you could use it for your first property,but most of the grants I have researched says you have to pay it back when you move out. 

@Nerton Saintfort This is the best way to run a House Hack deal. House hacking is where you buy a 2-4 unit property and live in one unit while renting the others. You should get a nice cash flow if you are able to get any new home/FHA/VA financing. Then you are able to move out 2 years later and rent the unit you were living in or sell the place and use your primary residence tax credit to get $250k/$500k tax free along with a 1031 exchange. There are some certain limits with the tax credit when you rent out the other half but it will still work great. Hope this helps.

Originally posted by @Ryan Blake :

@Nerton Saintfort This is the best way to run a House Hack deal. House hacking is where you buy a 2-4 unit property and live in one unit while renting the others. You should get a nice cash flow if you are able to get any new home/FHA/VA financing. Then you are able to move out 2 years later and rent the unit you were living in or sell the place and use your primary residence tax credit to get $250k/$500k tax free along with a 1031 exchange. There are some certain limits with the tax credit when you rent out the other half but it will still work great. Hope this helps.

 Thanks it help a lot I have a few follow up questions.

1. Could you also apply this to single family home?

2. Do you know any government grants that have a 2 year time period?

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