All Forum Posts by: Logan Sherwin

Hello,

I am interested in house hacking after I graduate from college, and I would like to make use of the house hacking strategy to begin my REI journey and reduce my cost of living. I have seen a lot of talk about the 3.5% FHA owner-occupied loan as being a great option for this (as well as the 203k which I was also looking into for reno), but I was wondering what my best options would be after I have lived in the first property for one year. It is my understanding that you cannot have more than one FHA at a time unless there is some type of outside circumstances (I would be assuming none of these) or you were to refinance to conventional, but I do not see myself having enough equity after the first year to do this. Are there any other low down payment options available for me to pursue for my second/third house hack in the future? I was interested in pursuing small multifamily properties for all of my house hacks, and I would like to have the turnaround be as quick as possible (moving out of the first property right after it has been one year and move into the next). I would love to acquire a fourplex at some point, as that is the largest residential multifamily I could acquire, but I have seen some talk about some lenders having different options for 4-units (but please correct me if I'm wrong, I have seen many different things online).

Thank you in advance for your help!

Hello,

I am interested in house hacking after I graduate from college, and I would like to make use of the house hacking strategy to begin my REI journey and reduce my cost of living. I have seen a lot of talk about the 3.5% FHA owner-occupied loan as being a great option for this (as well as the 203k which I was also looking into for reno), but I was wondering what my best options would be after I have lived in the first property for one year. It is my understanding that you cannot have more than one FHA at a time unless there is some type of outside circumstances (I would be assuming none of these) or you were to refinance to conventional, but I do not see myself having enough equity after the first year to do this. Are there any other low down payment options available for me to pursue for my second/third house hack in the future? I was interested in pursuing small multifamily properties for all of my house hacks, and I would like to have the turnaround be as quick as possible (moving out of the first property right after it has been one year and move into the next). I would love to acquire a fourplex at some point, as that is the largest residential multifamily I could acquire, but I have seen some talk about some lenders having different options for 4-units (but please correct me if I'm wrong, I have seen many different things online).

Thank you in advance for your help!

I am currently a college student interested in starting my real estate journey after graduation. I was looking into house hacking after graduating, but I am going to have a lot of student debt to pay back. Does it make the most sense to save money earned while in school and in summers for a down payment on a multifamily property to house hack, and continue saving for future house hacks/real estate while paying back my loans on time? Or should I prioritize paying down principal on my loans while in school and pursue a debt avalanche-type strategy to pay down my loans faster after I graduate instead of saving for a house hack? Or should I do a mixture of both? I was originally considering saving for a house hack while in school and using the profits coupled with saving income to use a debt avalanche strategy to pay down my loans faster after graduating, while also saving a small sum for a similar house hack/property after my first, but I wasn’t sure if there were better options.

Thank you so much in advance for your guidance!