Lending Question for Consecutive House Hacking

[Benjamin Sulka]

Wanted to get some perspective from lenders and investors.

My goal is to house hack consecutive years to accumulate units with relatively low money into the deal. I've heard from some lenders/investors that you need to "upgrade" your living circumstances year over year in order to qualify for another loan. I've also heard from some investors that this isn't the case.

For example, if you started with a MFH and had 2/1 in your unit, you would need to upgrade to a nicer area, larger space, etc. etc.

I'd be grateful to hear lender and investors experience with this.

-Ben, aspiring serial house hacker

[Daniel McDonald]

Going to depend on the lender. A few told me I wouldn't be able to use an FHA again because my properties were too close together (i.e. less than 100 miles apart). Another lender told me I could write a letter for any reason and he could get it approved, which he did. My excuse, I needed more space because I was remote. Now my route yes was a plead for more space (even though I went from a duplex to a duplex) so just find the right lender and get creative:

-I want to be closer to work

-I want a home office 

-the house is haunted

-My neighbors scare me

-I'm trying to start a family

-An in-law needs to live with me

Find the right lender and this won't be an issue.