All Forum Posts by: Josh B.

I’m in the process of buying a home with an owner occupied loan. I’m suppose to close on it in a month and the week after closing i’ll be leaving to work in Hawaii for about 6 months. Can I rent some of the rooms out for the time being. Im trying to avoid mortgage fraud but I’d also like someone to occupy my home while I’m working away from home.

What can I do legally?

@Jaysen Medhurst I think I can qualify for a 3-5% down conventional loan. What's the main difference then between an FHA loan at 3.5% and a conventional loan at 3% if you're still paying a PMI? Is it that the PMI does go away once you hit 20% on a conventional loan and the FHA loan it doesn't?

I'm in an expensive market. I was really hoping I could get into a multi unit property. But duplexes are typically from 500,000 and up. So I think I'm going to go with a SFH, and rent all the rooms out. I'd like to cash flow, but I've been running the numbers on a bunch of properties and breaking even seems like my only case scenario. But with the growth, the appreciation factor is what excites me. What're your thoughts on breaking even, I know it's not ideal. But if the housing market appreciates close to 7% annually. That could be a quick 30,000-50,000 depending on the home price. Plus I wouldn't be paying rent, my roommates would be.

I’m looking to invest in Utah county. (Lehi, Orem, vineyard, Lindon areas)

What loan would you shoot for with the intent to house hack? And why?

I have about $20,000 to invest.

I've been leaning on FHA. I understand there is a PMI, which certainly adds up. I also understand, you must live there for a year before being able to legally move out.

What’re your opinions on first time home buyers loans? The thought having two loans kinda of intimidates me.

Anyway, which loan would help me optimize the house hack to its fullest with $20,000.

@Logan M. Where are you finding your properties/deals?

I'd be willing to be your handyman. I'm new to real estate investing and would love any experience I can get my hands on.

Im new to bigger pockets and real estate in general. Anyway, I'm 21 and trying to figure out how I can have more financial freedom. I live near park city, in a small town called coalville. I've been attending the university of Utah, and I commute 3 times a week. My goal is to live in salt lake but I feel as if rent is pointless and I'm throwing money out the window. I recently found out about house hacking, and was wondering whether it'd be smarter to buy a single family house and rent out the rooms or buy a multi family house. Open for any advice!!