House hacking! Live and rent in the home you buy!

House hacking! Live and rent in the home you buy!

So house hacking can involve one unit if you are renting out the rooms in your property or it can involve up to four units. And get traditional financing. That’s one of the biggest advantages of house hacking. You can get an FHA loan with 3 1/2% down or even a VA loan with 0% down. And of course the conventional loan is also an option with 5% down. So you use the cashflow from the property either to pay down the mortgage or save it for you to be able to buy another property. I’ve met many first-time home buyers that intend to get into being a landlord. This is the perfect way to learn the business of renting homes because you’re in the house that you’re renting or you’re in the property, the multifamily property that you’re renting out. So you learn kind of all the ins and outs. What you need to charge. If you need to charge extra deposit next time. If you allow pets or not. All the things that encompass being a landlord, you learn while you’re living on the property. Lenders like experience. They want you to know the ropes before they lend you more money. You’re probably not going to live in every house you rent. So you have to have the money down but you also have to have the experience. In addition, the house that you’re renting, the unit you’re renting, it will be on your taxes. And so that gives you longevity as well. Because it proves that you can do it and make a profit. If you’re interested in purchasing investment property or you wanna house hack, I am your girl. I have been helping clients buy and sell investment properties and house hack for over 15 years. So I’d love for you to call me today. Remember, we want you to love where you live. Make it a great home buying and selling day, see you soon.

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