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Updated over 2 years ago on . Most recent reply
Ready to learn! Excited to be here! Help w/ Multifamily.
Hey everyone, so happy to be here and begin this journey to financial freedom.
I am starting out and am very new to the idea of real estate investing. I have read several guides here on Bigger Pockets and watched a webinar recently on Multifamily Homes. However when I have searched for Multifamily properties available on Zillow, the numbers don't seem to ever add up (negative cash flow always). Is this just the market right now or am I making mistakes?
My situation: In about 6 months I would like to move to the Phoenix/Scottsdale area. I will have a part time job there for 2 half days per week and am looking for a multifamily where I can potentially house hack and get an FHA loan. I am self employed but without 2 years of income sufficient for a conventional loan. My spouse however (w/ primary home in another state) has sufficient income in the $150s. I am trying to start learning how to analyze deals now, so that in the next 6 months we can pull the trigger.
Any advice is appreciated!
Thank you!