Moving from Minneapolis to Austin and 4plex

[Mani Poudel]

Hello All,

I bought a single home in Minneapolis 2 years ago. If I knew about REI or were I smart enough then , I would have chosen to buy multifamily.

Since I now know about what I should have done back then, here is a real question.

I am planning to move to Austin, Texas soon and thinking of buying a 4plex as Primary home to rent the rest. Can I do it while I still own SFH here in Minnesota?

Also, the multifamily homes in Austin seem pretty expensive and I do not want to go FHA route because of the PMI and do not posses huge amount to put down.

What are the chances to qualify for conventional with 5% down for 4plex and is it hard to find the lender?

I do not have any agents or lender currently to ask so any inputs are highly appreciated.

Thanks,