House Hacking: Is this possible with 100% Private money?

[Femi Kolawole]

Hey Guys, I’m 19 about to be 20 and I want to try house hacking so I have less expenses to worry about and focus on wholesaling and fix and flips. I am building my credit rn still 3 months in but don’t really have any capital at my disposal. Is it possible to get a duplex, triplex, or 4-plex with 100% private money loan and live in one unit while using the rent from others to payback? If not what other options do I have to be able to do this?

[Chris Mason]

Originally posted by @Femi Kolawole:

 Is it possible to get a duplex, triplex, or 4-plex with 100% private money loan and live in one unit while using the rent from others to payback? 

 Yes, if your rich uncle or ex or cousin or buddy at work wants to loan you 100% of the purchase price, they are free to do so! And, typically, if it's a one off, in most states, zero licensing stuff is required. Boom, done, hit your uncle up and buy that $2,000,000 fourplex with 0% down and no closing costs. Easy peasy. 

Note that hard money is not private money, no matter what hard money marketing BS claims. Private money is someone you personally know, typically someone you've known for years and years. By definition. Again, this remains true no matter what anyone's marketing stuff says.