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Updated over 2 years ago on . Most recent reply

Thomas Key's profile image
Thomas Key's profile image
Thomas Key
  • New to Real Estate
  • from Birmingham, AL
  • Member since Feb 17, 2022
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Thomas Key's profile image
Thomas Key's profile image
Thomas Key
  • New to Real Estate
  • from Birmingham, AL
  • Member since Feb 17, 2022
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Thomas Key
  • New to Real Estate
  • Birmingham, AL
12
Votes |
24
Posts
House Hacking

Creative Financing for a House Hack

Thomas Key
  • New to Real Estate
  • Birmingham, AL
Posted

I am currently looking into purchasing a property to live in the basement and STR the top. A few properties I've seen have a finished basement but the only issue is they all have 1/2 baths. What types of financing would allow me to turn the 1/2 bath into a full? Or is there another path to achieve this? Thanks!

  • Thomas Key
    • Birmingham, Alabama
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    Ryan Thomson's profile image
    Ryan Thomson's profile image
    Ryan Thomson
    • #1 House Hacking Contributor
    • Real Estate Agent
    • from Colorado Springs, CO
    • Member since Jul 21, 2018
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    Ryan Thomson's profile image
    Ryan Thomson's profile image
    Ryan Thomson
    • #1 House Hacking Contributor
    • Real Estate Agent
    • from Colorado Springs, CO
    • Member since Jul 21, 2018
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    Ryan Thomson
    #1 House Hacking Contributor
    • Real Estate Agent
    • Colorado Springs, CO
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    Ryan Thomson
    #1 House Hacking Contributor
    • Real Estate Agent
    • Colorado Springs, CO
    Replied

    @Thomas Key an FHA 203(k) loan could work. You basically get a 30 year mortgage for the price of the home plus any remodels you want to do.

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