Multi Family Properties in Aurora/Denver Area

[Marc Spagnuolo]

Hello BiggerPockets Community!

I am interested in getting into a multi-family property for my first buy. I am wondering if this is a do-able goal for the Aurora/Denver area. It would be owner-occupied and I would be looking to use first time home buyer programs to get into it. 

How competitive is it for a first time home buyer? Should I focus more on a regular home or is there good deals to find out there that I could potentially get into as a newbie?

Trying to decide on a strategy to focus on. I know I want to house hack and I know I'm going to be using first time home buyer programs. Any input or advice in regards to helping me fine tune my focus would be appreciated. 

[Chris Lopez]

@Marc Spagnuolo Multis are really tough to house hack now in the current market. Out of the last 20 house hacks we've purchased with clients, only one was a multi. The reason we got that is because the seller liked our buyer. Our offer wasn't even top 3. First time home buying programs, such as CHFA, will make it even harder to get a multi. Your offer will be at the bottom of the list for most sellers.

Otherwise, we're buying detached homes and condos. That's the best value play in the current market conditions. Plus, there is a lot more inventory and much easier to under contract with a CFHA or FHA loan.

It's not impossible to buy a multi, but once we look at the numbers, clients always go for a single family.