BRRRR and House Hack Hybrid

[Kyle Spearin]

Has anyone tried house hacking while also employing components of the BRRRR strategy?

I recently sold my single family house and want to house hack a multi-family for my next one. I hope to take advantage of a low down payment in the form of a 203k loan which I will use to finance a rehab, then rent out one side of the duplex while living in the other. Is it possible to pull money out and continue BRRRRing on something like this? Just spit balling here.

[Whitney Hutten]

@Kyle Spearin I've done it with an SFR (not with a MF). You should be able to do it. Explore how long you have to keep the FHA loan... Also, you will have to force the equity where you have at least 20-25% in to refinance out conventionally. If you do end up having to wait to refi, you could explore putting a HELOC on the property to access cash and move forward. Most banks only lend up to 85-90% LTV ... You might get more $$$ out that way.