House Hacking Multi Family Properties vs. Single Family Properties

[Murray Reginald]

Hello All,

I really like the idea of house hacking however, I purchased a new home 3 yrs ago, I am looking for additional cash flow and was thinking of a Multi Family properties. Is there a work around to make this happen? or should I stick to Single Family properties? I love the idea of Multi Family properties but I am not sure about living on the property and not sure what to do with my home. I am educating myself before I pull the trigger and would like to know your thoughts. I am highly excited about attending my first REIA in Houston on 18APR2023 and looking forward to meeting like minded people.

[Justin Hammerle]

@Murray Reginald - if you are occupying the property you generally have the same financing available for MFH up to 4 units as you would with a SFH. If you are not occupying the property you will need to seek out conventional financing with higher down payments. If you don't qualify for second conventional loan; you could consider selling your existing home and rolling any profit into a MFH where you occupy one of the units and rent the other.