House Hacking Travel Nurse

House Hacking Travel Nurse

Sebi ArdeleanPro Member
Investor · Rochester, NY · Member since 2019 · 23 posts · 6 votes

Here's an interesting scenario that I would love to get people's opinions/thoughts on. My fiance and I are planning on travel nursing for a year. We know where we want to end up location wise after that year. Here's our plan:

1. She would buy a small multi that needs a good amount of rehab work, using the first time home buyer program for 3% down conventional mortgage. 

2. Use that address as the home base for the year of travel nursing (we have to live there for a year anyways with that program)

3. Rehab one side and get a tenant in there

4. While still travel nursing, rehab the second side and get it ready for a tenant

5. Once our year of travel nursing is over we can "move out" of that house and put a tenant in the second unit

So we are expecting to have some time where one of the units is technically vacant. It's actually our place but we wouldn't be living there because we'll be traveling. The reason we came up with this scenario is because my fiance doesn't want to live next to our tenant. Travel nursing pays you a housing stipend which would cover for the vacancy. 

This is a lot of info, but I would love to hear what people think. Have you done something like this before? Do you see any implications with doing something like this?

Thanks!

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Matt SzablowskiPro Member
Member since 2022 · 11 posts · 11 votes
4y

I'm also a travel nurse and have thought about a similar scenario. My dilemma is that if you are doing a owner occupied loan and make the investment property your primary residence don't you then lose your stipend money as a travel nurse since you ar Eno longer away from your primary residence? 

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  • Adam TafelBusiness Member
    Real Estate Agent · St. Paul, MN · Member since 2017 · 580 posts · 396 votes
    6y

    Could you Airbnb the vacant unit while you travel? I'm not sure about occupancy requirements for your loan, talk to your lender. 

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  • Sebi ArdeleanPro Member
    OP
    Investor · Rochester, NY · Member since 2019 · 23 posts · 6 votes
    6y

    @Adam Tafel Thanks! I thought about that. Definitely something to talk to the lender about. 

  • Timothy ChiBusiness Member
    Real Estate Agent · Anchorage, AK · Member since 2018 · 88 posts · 45 votes
    6y

    @Sebi Ardelean

    I've been thinking about doing something very similar. I'm a traveling PT and am thinking about getting an FHA loan for a property in WA. The dilemma I have is if I could still get an FHA if it becomes my primary residence yet I still travel for work. I would have a room for myself, all my mail send there, drivers license would read that address, etc. I'd go home in between contracts.

    Do you have any thoughts on that? I'm going to post it to the general public to see other comments.

  • Sebi ArdeleanPro Member
    OP
    Investor · Rochester, NY · Member since 2019 · 23 posts · 6 votes
    6y

    @Timothy Chi From what I know it seems like that's doable. As long as that's your main address and you don't stay in one place too long as you travel it should be fine. But I'm not completely sure, which is why I wanted to throw the scenario out there for people's thoughts. For travel nursing at least, you actually have to have a main residence to be able to receive the tax free travel stipend.

    What do you plan on doing with the property while you're gone? And are you thinking single family or small multi?

  • Timothy ChiBusiness Member
    Real Estate Agent · Anchorage, AK · Member since 2018 · 88 posts · 45 votes
    6y
    Originally posted by @Sebi Ardelean:

    @Timothy Chi From what I know it seems like that's doable. As long as that's your main address and you don't stay in one place too long as you travel it should be fine. But I'm not completely sure, which is why I wanted to throw the scenario out there for people's thoughts. For travel nursing at least, you actually have to have a main residence to be able to receive the tax free travel stipend.

    What do you plan on doing with the property while you're gone? And are you thinking single family or small multi?

    I plan to rent out everything except my 1 bedroom. I'd like a MFR and duplex is most likely. You?

  • Sebi ArdeleanPro Member
    OP
    Investor · Rochester, NY · Member since 2019 · 23 posts · 6 votes
    6y

    @Timothy Chi definitely a multi, It's the only way I can make it work in my situation. I'd love the get a tri or quad if possible. I was planning on getting something that needs a good amount of work to build equity, but if the numbers work I might just do a turn-key. Especially if I can Airbnb my unit while I'm away 

  • Member since 2020 · 1 post · 0 votes
    6y

    @Sebi Ardelean

    What a solid idea! I was wondering what you mean specifically by not staying at a place for too long? I know most agency contracts last around 3+ months.

  • Member since 2020 · 1 post · 0 votes
    5y

    Im a current travel nurse with my boyfriend who is also a travel nurse and this has been our plan. This way we maximize the amount a nurse can make and still make passive income while we are away and build equity to our home. 

  • New to Real Estate · Spencer, IA · Member since 2020 · 4 posts · 1 vote
    5y

    @Sebi Ardelean How did this work out for you? My wife and I want to do the same thing. Did the lender consider the property “owner-occupied” using it as your address and ‘base’? Did they say how many days per year you have to be there in order for it to be considered “owner-occupied”?


  • Matt SzablowskiPro Member
    Member since 2022 · 11 posts · 11 votes
    4y

    I'm also a travel nurse and have thought about a similar scenario. My dilemma is that if you are doing a owner occupied loan and make the investment property your primary residence don't you then lose your stipend money as a travel nurse since you ar Eno longer away from your primary residence? 

  • Member since 2022 · 5 posts · 2 votes
    3y

    I did this. Bought a duplex. Used one side as my primary and lived there for a year as my tax home and had a roommate. Now it’s been a year and it’s an investment property. I currently have my brothers address as my new permanent home and am renting a room near my travel assignment. Looking for my next purchase this year.

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