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Updated over 3 years ago on . Most recent reply

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Francisco Miranda
  • Contractor
  • San Jose, CA
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I'm looking to house hack.

Francisco Miranda
  • Contractor
  • San Jose, CA
Posted

Is it possible to get a 4 to 8 plex and house hack it where do I start i don't want to waste more time and I'm still learning I'm in the Santa Clara County area in California and hava full time job

Most Popular Reply

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Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
1,919
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Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
Replied

@Francisco Miranda

Typically, house hacking is for people purchasing 1-4 unit properties; properties where FHA financing is able to be utilized. 5+ multifamily properties are usually going to require 20%-25% down while FHA financing on 1-4 unit properties will usually require less than 4% down. The buyer then will rent out the additional rooms/units to help pay their mortgage while hopefully cash flowing at the same time.

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