Advice on House Hacking in Chicago for a Veteran

[In Cho]

Hi,

I'm a veteran looking to get started with house hacking in the Chicago area, and I'm hoping to get some advice from more experienced investors. Specifically, I'm wondering if it's possible to use a VA loan to finance a duplex or other multifamily property for house hacking. This is also my first home purchase.

Assuming I can use a VA loan, I'm also wondering how much I might expect to pay for a duplex in a reasonably safe neighborhood in the Chicago area. I'm hoping to charge between $1,500 and $2,000 per month in rent for one side of the duplex, so I'm wondering what kind of price range I should be looking at. How much down payment should I prepare?

Finally, I'm curious to hear from anyone who has experience with house hacking in the Chicago area. Is this even doable, or are the prices and competition too high? Are there certain neighborhoods or suburbs that are particularly good for house hacking?

Thanks in advance for any advice you can offer. I'm looking forward to learning from this community and getting started with my real estate investing journey.

Best regards,

Total Newb

[Ryan Thomson]

@In Cho You can use your VA loan for a duplex and 0% down. You could go to a fourplex with 0% down with the VA loan. the VA loan is the most powerful house hacking loan product on the market right now.

@Paul De Luca is an awesome realtor in the Chicago area that works with house hackers.