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Updated about 8 years ago, 11/18/2016

User Stats

43
Posts
12
Votes
Cameron C.
  • Philadelphia, PA
12
Votes |
43
Posts

House hacking...over and over and over again

Cameron C.
  • Philadelphia, PA
Posted

Hey BP,

So I'm looking to jump into the investing scene and to be quite frank, I do not have a ton of capital to start off.  I'm currently in the process of purchasing my 4BR single family and recouping the mortgage of $1,800 from my 3 roommates, who each currently pay $650/br to live here.  Additionally, and no secret here to house hackers, I have the advantage of acquiring the property as my primary residence as a first time home buyer, which will allow me to put as little as 3% down.

That said, I'm wondering if I can "rinse, lather, and repeat" this strategy for my next investment in say, 12 months? Do you know any restriction or requirement that allows you to continuously change your primary residency status in order to obtain better financing options? My thought process is if I can continue to purchase a property every year or so and acquire it for 5% down as a primary resident rather than the 20% required as an investment that I could continue to move and eventually hold a few investment properties with big LTV mortgages.

Any pros and cons you guys initially see with using this as my guiding principal to jump into the investment scene?

Thanks in advance,

Cam

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