Looking to take action and launch.

[Jon Wilson]

Ready to buy a small multi family for a house hack or open to other suggestions from the more experienced folks around here. I have a secure and stable union job that I’ve been at for the last 7 years. In that time I’ve saved 65k and have 24k in my employer retirement account.

From what I’ve gathered, to maximize my equity I want a property with value add potential instead of something already renovated. 3-4 units are usually the only properties where the numbers make any sort of sense.

My biggest hurdle in buying in LA would be my purchasing power. I have excellent credit, but only make 40k a year which allows me a mortgage approval of 275k. Is there a way around that problem or do I need to look at a different market with prices below that range? Thanks for reading!