House Hacking with a Large Family

[Randall Floyd]

Hey Everyone, 

I'm a newbie and a first time poster. I really want to take advantage of getting an FHA loan, but I want to househack. My issue is that I have a large family ... there's 7 of us. Any ideas on the types of properties that would make house hacking a sensible choice?

Thanks in advance!

[Jennifer Bennett]

It is a challenge, but doable. I also have a family of 7. Instead of house hacking in the sense of buying a multifamily & living in a unit, we bought a fixer upper short sale & are doing a slow live-in flip. It has its own challenges, but I see the ability to either take the gains tax free if we sell, or get a HELOC to pull the equity out and become my own hard money lender ;). Always options. Just need to think creatively.