All Forum Posts by: Heather Faggiano

Thank you so much for taking the time to respond, Jonathan! I really appreciate it. Unfortunately, I'm not in a good position to buy right now as I don't have a downpayment and my DTI isn't where I need it to be. I have a plan in place to get me there though, and it the timeline aligns with my current lease ending.

I have two follow up question if that's okay. How long would you live in the duplex, and what would be your next move after that? My plan is to live in the duplex for a year or two, but then I'd like to move out and rent both sides out. Is that a good timeframe? Beyond that, I'm unsure what my next move would be...would you recommend buying a second duplex and repeating the process? Or maybe going with a SFH that needs some work? I'm not sure!

Thanks again!

I'm planning to purchase my very first property next year - a duplex - and plan to house hack using a 203k loan. For now I'm doing tons of research, and getting my finances and DTI in line. In the meantime, I have a few questions I'm hoping to get answered:

1. When should I start speaking with an agent? I currently have an apartment lease that is up end of August 2026. I'd like to avoid going m2m on this lease, so I'm trying to understand when to start the process with an agent/lender/contractor, etc. 

2. With a 203k loan, renovations must be completed within 6 months (I plan to use a limited 203k). This won't be an issue for the side that I'll be living in, but how would I renovate the tenant-occupied side within those same 6 months IF their lease goes for another 10 months for example? Logistically, what would you do in this instance?

3. Can I pick and choose what renovations I want to use the 203k loan for? For example, can I paint and tackle other smaller projects myself and only use the loan for larger, more in depth projects that I don't feel comfortable doing myself? Or, am I required to use the loan for all renovations and updates?

Thanks very much for your insight!