House Hacking Guidelines for Denver Colorado

[Jessica Gil]

Hello,

I am new to the investing world. Although my husband and I have not jumped into the business directly, we have been studying and researching the ins and outs of real estate investing. However, I have a question:

If we plan on purchasing a du-plex, in Denver CO, what are the requirements for renting specifically? Are we required to house hack before renting out the property?

Again, I am a beginner, with zero real estate education under my belt, but any advice would be appreciated. Thank you!

Jessica

[Jared Bouzek]

@Jessica Gil Typically the advantage of house hacking is that because you're going to live in the property, you can purchase using owner-occupied financing. This opens the door to low down payment options that typically aren't available otherwise, so if you're strapped for cash it's a good way to get your foot in the door. It might also be helpful if you need the rental income from another unit to help you qualify. 

If you do not want to occupy the property as your primary residence, you can purchase a property with non-owner occupied financing and rent it out as a pure investment property.