Pivoting from living SFH into house-hacking MF

[Alex De Leon]

Hello,

I currently own a Singe family home in the Brainerd/Beverly area. Currently 1.5 years in the home but the  goal is to rent the property and move into a 2/3unit in order to house-hack. Is this possible? What are some tips in making this pivot? What are some challenges I may face with lenders, should I rent the home first then purchase? Any advice helps! open to connecting. 

Thank you! 

[Paul De Luca]

@Alex De Leon

Yes you can definitely move out of your home and then move into a 2-4 unit property to house hack. If you wanted to have the rental income from your SFH factored into your pre approval your lender will require a lease FYI. I don't imagine that would be too significant of an impact on your DTI though so I think you should just find the property you want to house hack, buy it & move into one of the units, and then get your SFH rented.