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Updated almost 8 years ago,
No money or job, multifamily deal still possible?
I just moved to a new city {staying with family} about a month ago because my old city had a truly awful economy. I still haven't picked up a job yet but I have made the decision to invest in real estate.
My plan is to house hack a multifamily of some sort and have the income from that provide at least a place to live for my family {we currently live in a living room}.
Am I crazy for thinking that this is possible? Is it even possible at all? I was considering a flip of some kind but the place to live would benefit my family considerably more right now.
I can't get an FHA right now (I tried already). Does anyone have any ideas? I know there has to be a way to accomplish this feat. I would really appreciate any insight or advice.