House Hacking in Westchester

[Shane Terwilliger]

Hi Everyone! 

Me and my partner are looking to start our real estate journey with a house hack in Westchester County, NY. 

We are trying to spend under 500k and are looking for a multi-family, either a duplex or triplex. We are going to use a FHA loan with 3.5 percent down. I work in the city so i am trying to stay within an hours commute of Manhattan. The choices/options are so limited in this area for the price range we have to stay in, so im wondering if anyone has any helpful advice about investing/house hacking in these locations.

We have been pre approved for a loan and are working with an agent and get updates every time a new listing comes on the market in our price range. However, we've been looking for over three months and got close with one house but we lost it to a cash offer. 

Any updates/ advice would be greatly appreciated. 

Thanks alot guys! 

[Alex Horelick]

Hi @Shane Terwilliger,

We should definitely talk! This area has sort-of become my specialty. If you are looking in NY I would suggest a SONYMA loan first before going FHA. I can explain the differences to you better over the phone if you like but SONYMA can do 3% down if you qualify and you will still be eligible to do FHA after! I'd also recommend looking into certain parts of CT where you can get better cashflow and you can still easily commute to the city. Send me a PM if you want to discuss further and good luck!