10 house hacks in 10 years

[Alec Fenner]

Hello BP community, I am 20 years old and starting a fresh chapter in my life beginning with real estate. I will be submitting an offer to my first property this week and through running all my numbers I believe that house hacking is and unbeatable strategy in real estate for those like me who are single and not a lot holding me to one place.

My question are what would be your suggestions to constantly house hacking, particularly in financing but all advice would be greatly appreciated! My current loan will be a FHA loan, which I realize I can only have one current FHA loan, so then what?! In 2023 I will be eligible for a VA loan, can I have a FHA loan and a VA loan at the same time or will I have to refinance one to conventional financing. How about the other owner occupancy financing like USDA.

Thank you very much for your time and I am always looking to connect with others in this community especially those in the Cincinnati Ohio area!

[Matt Vezina]

If you are talking about owner occupying a multi family check out the Freddie Mac Home Possible loan, that one allows 5% down on multi and it is a conventional offer unlike the FHA. Less red tape, lower PMI that you don't have to refi out of, much better product. It does have a first time buyer requirement so if you're eligible it should be the first loan you use. Otherwise if you're looking at single family homes then 5% down is allowed on a regular conforming mortgage as Valery suggested.