Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 6 years ago,
House Hacking Question
Hey guys, I am a 23 year old who is currently building my down payment fund for my first principle buy in Birmingham, AL. My plan is to find a small multi-family property and live in one unit while I rent the rest out, standard house hacking. I plan on using an FHA loan to finance my first buy, I'm open to using a 203(k) if the opportunity presents itself. However, I'm having trouble finding MFRs that meet my criteria as they are either extremely expensive or very run-down and located in war zones. Any advice on methods to refine my search? I'm using standard sites like Realtor.com and Zillow, I'm currently looking for an agent to work with as well. Additionally, my back up plan is to buy a three bedroom SFR and rent the rooms out if I can't find an MFR that meets my criteria, what is the general consensus of house hacking an SFR? Good idea? Bad idea?