Can I Househop? - Posted by Joe

Posted by john on September 13, 2004 at 14:47:51:

If you aguire a property thru lease option, you could move in til you find a buyer. then do it again.

Can I Househop? - Posted by Joe

Posted by Joe on September 13, 2004 at 12:36:18:

I’m sitting here do some overall planning.

To make a long story short, I’m a single man who’s paying too much now where I’m staying, and am considering taking some drastic measure to cut my costs, especially so I can use the money to do some more marketing, ect.

Is there a way I could actually live in some of the houses I’m putting under contract for short periods of time, and then move to the next one, ect? Or can anyone think of a good strategy here???

Re: Can I Househop? - Posted by Tom-FL

Posted by Tom-FL on September 13, 2004 at 16:22:59:

Absolutely. If you are holding these houses for rehab, the FHA has a nice loan program not currently available to investors (Owner occupied only). You move in, do the rehab, live there the prescribed length of time, and then go on to the next one.

The way to do it is to rehab the master bed/bath 100% and then close it off from the rest of the house and live there. Then rehab the rest of the house.