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Updated about 3 years ago on . Most recent reply
House-hacking + Short-Term Rental
Hey guys!
Next year, I intend to purchase a home for the first time. I want to aim for an FHA loan with 3.5% down. I want to buy at least a triplex (preferably a fourplex), live in one unit for a year to satisfy the FHA requirements, and use the other three units as short-term rentals. What do you think? Is this legal?
Most Popular Reply
@Michael Dumler Definitely easier said than done! I have been trying to find private funding for about a week now, to no avail, but I know it takes time. We have a lot of waterfront properties where I live and I am hoping I can snag something nearby the water to make it more desirable for STR's and LTR's alike. I just joined a neighboring county's REI zoom group and attended a meeting this morning. I am so excited to begin investing! I wish it could come sooner than later.