How to Successfully House Hack Without Disrupting Kids' Schooling? Seeking Advice

Question

Considering house hacking as an option but concerned about the impact on my kids' schooling when using FHA loan and need to leave after a year. Has anyone here successfully house hacked in the same city to avoid changing schools for their children? How did you manage the logistics and ensure a smooth transition for your kids? Any advice or experiences would be greatly appreciated!

Scott Mac · Answer

Have you considered homeschooling?

Live anywhere you want.

Be as free as a bird.

Good Luck!

Wencheur Antoin · Answer

Well my 10 years old is homeschooled, and we've been traveling, however she started to cry everytimes we are moving now. She wants to be able to make friends and stay with them.

Ryan Thomson · Answer

@Wencheur Antoin great goals! The sacrifice can definitely pay off in huge ways.

A small nuance here that you need to be aware of. You can only use the FHA loan once in a 100 mile radius. However, you can use conventional loans and put down 5%. And you can do those every year.

As far as moving and kids go, does your city offer school choice? If not, you may have to look for homes in the same school district and be creative to make them work with a house hack.

Wencheur Antoin · Answer

Thank you Josh, I really appreciate your piece of information. I will keep this in mind!

Josh Bowser · Answer

Hey @Wencheur Antoin - this is a pretty unique situation. Based off the other comments - it looks like you're trying to buy 1 deal a year with an FHA. Noble goal but you may run into cashflow issues right now with current rates so I'm not sure I'd be too focused on the next deal just right now.

I'd try to pick a solid area of the metro that has a lot of small multifamily. Lawrenceville area comes to mind as an area you should be able to find a decent amount of on market deal flow paired with good schools to avoid any issues with your kids moving school districts.

Bill B. · Answer

I don’t know Atlanta. Are all the duplex, triplex and quadplex in the same neighborhoods? Is that neighborhood in the school district you want? And finally are you saying move out in a year so you can buy another one? (As obviously you don’t have to move out.)

If so. Study that neighborhood, become the local expert. Then study the buildings that fit your need and become that expert. What do they sell for, what are the common problems, are there different sizes? (1/1’s vs 2/2’s etc.) are there different build types (brick/wood/stucco), different layouts (up/down, side/side, partially below grade.) do they collect different rents?

Set up an MLS filter as detailed as possible so only those properties come up. Get to the point that you know in 5 minutes if you're interested and within 10 if it's a good deal. You certainly want your offer in their hand the same day, hopefully within an hour. This is how I got my collection of SFR, it should be even easier with SMF.

If they’re not in just one or two neighborhoods, or worse yet, not in your school district that’s not good. I don’t have a great answer, especially if there’s not a great #2 district.

Get started & Good luck.

Bill B. · Answer

House hacking means having other people live in your house with you and pay you rent. Why would you have to leave after a year? If you want to leave after a year and add another renter most school districts are pretty big and you don’t move until you find another property in the same district.

If you mean the new version of house hack living in one part of a duplex, triplex, or quadplex. Most of them are in the same neighborhoods so they should be in the same school districts. Just wait until another one comes up for sale before moving.

Wencheur Antoin · Answer

I did not know the 100 mile radius rule. Thank you for sharing Ryan!

Wencheur Antoin · Answer

Thank you Bill, highly appreciate your piece of advice!

How to Successfully House Hack Without Disrupting Kids' Schooling? Seeking Advice

How to Successfully House Hack Without Disrupting Kids' Schooling? Seeking Advice

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