Please Wisdom and advice! Pittsburgh Pa

[Tonette Whitted]

Question. I am Looking to possibly house hack a duplex in my area. I live in Beaver Falls PA about 40 mins north of Pittsburgh. The asking price for the duplex is 40,000 or best offer presented. I haven’t physically walked through the house but i know from talking to real estate company there will need to be repairs in the vacancy apartment. I am literally starting with 0 dollars. What is the best course of action going with an FHA loan? private lender? I want to profit more than owe after moving in? But starting with no money I’m not sure the best route to take??

[Jeremy Taggart]

@Tonette Whitted For a property that needs work like the one you are talking about you could use a FHA 203k loan which lets you wrap the renovation costs into the mortgage, minimizing your out of pocket expenses. You can also ask for up to 6% of the purchase price from the seller to put towards your closing costs. FHA loans also let you use "gift funds" from family members towards the down payment and such if that is a possible option for you.