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Updated over 5 years ago,
Questions about 203k loans/house hacking?
Hi guys! I am just getting started in real estate. I am a licensed real estate agent, and I work for a company that buys fixer uppers and sells them to investors. So all day every day I am analyzing deals, seeing houses, putting rehab estimates together etc. I am ready to start planning for my own real estate investing
I am in Chicago and thinking house hacking is the best way for me to get started. Just a few questions about 203k loans- what are good ways to find lenders for standard 203k loans (planning on my rehab being well over $35k) and realistically what are the qualifications? If I am needing the projected rental income of the property to help me qualify for the loan how does that work? Any other thoughts or experiences are helpful too. Thanks in advance!