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Updated almost 8 years ago on . Most recent reply

I need advise on house hacking. Can you help?
Hi guy's. I am saving up money for a down-payment to house hack. I live in Ireland so laws might be different, but I have heard that if you take out a mortgage and live in the property for one year you can then move out and rent it out. This is what I would like to do. However, I went down to my bank today and they said that in order to get a mortgage as an investment, you need to earn €70,000 per year, which I don't. I am just wondering if I get the mortgage out anyway just to live in the home can I eventually rent it out and if so, how long will I have to live in the property? The mortgage adviser wasn't very helpful and told me that I should just focus in generating the money for a down payment and then go from there. As someone who wants to invest I want to know every step I must take, both before and after I purchase my first property. Any advice would be greatly appreciated.
Most Popular Reply

stop telling banks that you want to be an investor. just get an owner occupied loan, live there for a time, then do what you want...