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Updated almost 5 years ago on . Most recent reply

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Rasiel Algaze
  • New to Real Estate
  • Colorado
7
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22
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Is “house hacking” ilegal?

Rasiel Algaze
  • New to Real Estate
  • Colorado
Posted

I think I just screwed up talking to a realtor. I said I wanted to "house hack" a property, but the realtor told me that's illegal, because I have to own it for at least a year or two with FHA. Im confused, did I just talk too much? I'm planning to buying a duplex live in one unit and rent the other one out? I live in Colorado i'm trying to network and build my team but I don't know exactly how to approach a realtor. Can somebody tell me what questions should I ask?

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JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
15,988
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JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorReplied

No, it's not illegal. The realtor may have thought you meant you'd buy the house FHA but not intend to live there. That's illegal. You have to occupy the property for at least a year. You can then move and buy another property. Lots of people do this with duplexes, triplexes, etc.

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Skyline Properties

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