Trying to sell my primary to house hack
Good day,
Hello everyone, my name is Courtney. I'm rather new to investing in real estate. I've done 4 wholesale deals, but I want to pivot into Buy and Hold multifamily IMMEDIATELY and start house hacking. I currently want to sell my current home through a creative financing strategy so I can pull 40k-50k out of it then acquire a multifamily to move in. My home has 253k to pay off and the ARV is 360-20k in rehab. Does anyone have any suggestions?
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Benjamin Aaker
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- Rental Property Investor
- Brandon, SD
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Sounds like you would do best by finding a 4 plex and getting a FHA loan. With your net from sale of your house, you should be able to get FHA because you won't have a primary residence any more. Talk to your banker. If you've lived there over a year then you may find it's easier than you think.