Where to buy a 4 plex? Questions on location, strategy and partnerships
Wife and I are coming off of a long-term sailing trip after having a kid. This is an open-book situation where we really are free to decide where we want to be. The wife works remotely and I have been working on boats for beer money the last couple of years. We've only done one flip in the past couple years, as well, and I am in analysis paralysis of our next move.
I'm looking for work, a property to invest in and to househack a place to live. I have a lot of real estate experience, have worked in construction and have tools to work on a property myself.
We've lived in Southern and Central California, currently in SW Oregon (went to college, lots of friends here), have family in San Angelo, Texas and near Seattle. That said, we don't need to be next to family but being somewhat close by has advantages so those places are favored somewhat.
The strategy is to buy, househack a value-add multifamily for 2 years then rinse and repeat until we can build up enough capital to either start developing, move to larger multifamily or the wife wants to start a senior care facility.
We're interested in a place to live that breaks even with 3 units rented, has some value to add and is relatively clean in an area good for raising kids (no ghetto/near industrial, etc) We have about 100k of skin.
What are some areas worth focusing on?
Do you have any recommendations for that area (Realtors, lenders, other houshackers)?
Anyone ever partner on a househack? I am considering it to leverage a much nicer place than what I can afford putting 100k down.