House Hacking Research #2- Ask/Answer any House Hacking Question!

[Craig Curelop]

Hello everyone, 

This is part 2 of my research project for house hacking. Please let me know any questions you have surrounding house hacking. If you have the answer to any question  you see, feel free to answer. 

Thank you!

[Kyle Lane]

I am actively shopping for 2 - 4 units to house hack with an FHA loan. I like the Bigger Pockets calculator but I can't justify paying for a pro membership to get unlimited use right now. does anyone have experience with the Vertex42 Rental Property Calculator https://docs.google.com/spread... or something else that might be a better solution?

[Kim Snyder]

Hi does anyone know if any banks inparticular allow HELOC on IP

[Alleia James]

Hi Everyone!

I am new to the BP community and would like to connect with agents, seasoned investors, rental property owners, etc. I am a recent college grad looking to house-hack in Chicago or surrounding areas. Can someone perhaps provide guidance or tips for a new investor?

Warmly,

AJ

[Marlen Weber]

Great thread to learn about house hacking, thanks for getting this started for us. 

[Alex Lam]

@Craig Curelop

Sup

Hi all , I am a newbie at this.

So please correct me if I have the wrong idea ..

I am in my 5th year of my FHA single family.. I am looking to re-fi soon into a conventional... the plan is to get a new FHA for a Multi-Unit . Live in one part and rent out the others..

Current Loan balance 160k

Loan officer (friend of mine) said my area is 220k+ . Recently sold in my area is 220k+ on Zillow.

I was wondering what rehabs are more important than the other when it comes to the reappraisal.

Recessed lighting?

Improve kitchen?

Improved bathroom?

Exterior improvement?

If there are any pieces that I am missing / that’s I am not putting into consideration please let me know.. I am trying to make my first move to become financially free.

Thank you all for your time and help!

[Victor Nkhoma]

@Minh Nguyen I'm in your position as well! Glad you asked. All my research so far has pointed towards a 3 townhouse/condo. Wondering why multi-family? Some say HOA restrictions but interested in knowing more.