First Purchase, realtor question

[Nicholas Ernewein]

Hey guys, so I estimated I would be financially able to try to get an FHA loan for a 4Plex in my area in about 6 months ( again this is all a conspiracy, because I am so new to all of this, so I don't want to sound over optimistic or under, I'm somewhat lost even after reading so much ). I live in the Buffalo, Ny area and I've been looking around at every online website I know of to find different properties, then I go to CL compare the average renting costs in that area.

I completely take back my first sentence, I would like to mortgage 4plex in 6 months however I can't find ANY OF THEM IN MY AREA. I don't know the costs of something like that in my area and I've been consistently looking.

Question 1: Any tips on where to look for properties ext.

Question 2: I understand building a team around you is very important and a good way to find people is references. However I know a realtor I went to HS with, is it an uncommon practice or would she even entertain the idea of me asking her about the area and 4plex's? Is that like information they wouldn't disclose of good areas, and prices?

P.S I also apologize if none of this made any sense...

[Peter M.]

Yes ask your realtor friend. Why would she not disclose it to you? If you use her to buy a property she gets a commission check. There may just not be 4 plexes where you live. You could also look for duplexes and triplexes. 

Most cities zone the same way, think of this as a circle moving inward starting at the outside: industrial, commercial, retail, commercial multifamily (huge complexes), residential multifamily (4,3,2 units), single family residential neighborhoods. This creates buffer zones because people don't want to live next to a manufacturing plant. So drive around neighborhoods near bigger apartment complexes and you may start to see how the real estate shifts from a busy retail area gradually to houses. In between you will find the duplexes and 4 plexes.