Fourplex House Hack Opportunity

[Sean C.]

One of my goals this year is find a Fourplex to house hack in..and do some sort of BRRRR strategy.

Sorta a dumb question.. - If I was to purchase a Fourplex off market (all-cash/hardmoney) get it rehabbed and rented for the next 4-6 months.. 

Do I get ALL units rented out and begin the cash out refinance process? Or its ok to live in one unit? Would it be more logical to get units rented out and once the refi process is done..I move in one of the units.

How should I go with this process?

Ps. I can't get a FHA loan, PP is in the 7 figure range. (Bay Area)

[Jeff Brower]

The real purpose of a 'house hack' is to purchase the property with a low down payment loan due to the fact that you are getting owner occupied financing by moving into one of the units.

In your situation, for a cash out, I don't think it matters whether you are occupying or not, unless you apply for a loan that requires you to owner occupy. Most conventional loans don't but there are some that are less than 20% that do. It really just depends on what product you apply for.