House hacking journey

[Account Closed]

Hey guys I live in the state of Iowa. Currently in Iowa city. I am trying to find a fourplex, 4 unit apartment building to house hack. Not a house. I am having a lot of trouble and i can’t seem to find anything online. Any suggestions or ideas of how i can?

[Darson Grantham]

Hi @Account Closed! Congrats on making the decision to buy a 4 plex and househack!  I’m a realtor in Des Moines area and people here are having the same troubles finding a 4 plex to househack.

Couple suggestions, figure out who the realtors are that work with investors in your area. Build a relationship with them and tell themnif they have any investir clients who want to sell but dont want to put their property on the market, you’d like to be contacted.  Give them a max price to o from also.

If you havent already, contact a bank with your plans and get pre-approved for a loan.  Be specific with them that it will be owner occupied but still a multi family.  (Show a few local banks because some will have different in house financing products that are better than national freddie/fanie programs.

Set up a search for rentals in properties that meet your buying criteria.  When they are posted for rent, call the number and ask if they would like to sell for market price to a live in buyer.  (You dont HAVe to pay market price but that will at least let them know you arent trying to buy it at 50% of value.

I’d love to hear how your search goes, keep us all posted!