Wells Fargo HomePath Program

The Wells Fargo HomePath Program offers a significant advantage to newbie investors, particularly those who do not currently have a primary residence and aim to live in the property they are purchasing. This program provides a competitive edge by initially excluding more experienced real estate investors from bidding, which can be especially beneficial in competitive real estate markets. This approach allows first-time buyers or owner-occupants to have the first chance at purchasing certain properties, thereby increasing their likelihood of successfully acquiring a property suited for house hacking strategies 1.

It's designed to encourage occupancy, presumably under the assumption that owner-occupants will better maintain and care for their properties than absent investors — a concept known as "pride of ownership." This unique aspect can make it easier for individuals to enter the real estate market and start building equity in a home that also generates rental income 2.