House Hacking

[Paris Kelly]

Hello Bigger Pockets, my name is Paris and I'm getting started with real estate on the house hacking side. They say the best way is to get a duplex, live in one unit and rent out the other. I live in Michigan metro Detroit area and I was wondering could anyone point me in the right direction of some good duplexes at a decent price?

[James Orr]

Yes, VA or FHA loans will allow you to buy single family homes, duplexes, triplexes or fourplexes.

If you can get VA, you may want to consider using your VA benefit for the first one or two (really until you run out of VA benefit). Then, consider moving to FHA loans for your next purchases.

After that to purchase your next homes as owner occupants to live in for a year then convert to a rental, you'll probably need to do single family homes unless you refinance out and then use your VA/FHA benefits again.

Hope that helps.

James