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Updated 10 months ago on . Most recent reply

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Zane M.
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House Hacking without actually living there

Zane M.
Posted

Hello, I am 20 years old and trying to start with real estate. I want to house-hack a duplex but I am not ready to actually move out of my parent's house because of sick family members. I am looking to achieve a low down payment and renovate the portion of the home I would be "living in" over the year I am supposed to be residing there and essentially using that year to take my time with renovations as I am full time student and working full time. I am not sure I would ever actually sleep there or live there but the laws around this are confusing. Is this illegal?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

The terms are Very clear…..you must move in within 60 days or so, and occupy for at least a year..

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