All Forum Posts by: Luis Torres

Hello,

I am looking got my first investment property that I would house hack. I would love to find a lender that understands the Connecticut market and could also look into some first time buyer programs in Connecticut. Thank you! 

Hey @Andrew Postell, thank you for sharing your feedback. I do think it is important to remind myself of the purpose of house hacking which is to reduce housing expenses. I have been wrongfully thinking that the property absolutely needs to cashflow right away... Thank you again for the reminder!

Hello,

I am looking to house hack in Central Connecticut. I have a family member that is willing to do lend me at 3% (huge blessing for sure) if it is my primary residence. Family member's one condition is that I put down between 10-20% depending on the price point. My questions are whether

-Should I try to get a FHA mortgage instead and house hack knowing that the rental income will go toward the housing expenses. This would allow me to perhaps move out quicker and save the cash and family lender for another property in a year or two.

The thing is a lot of properties in Connecticut seem overpriced and would be hard to cashflow with the regular mortgage rates.