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Updated over 5 years ago,
Initial capital for first small multifamily househack
I have been saving up for my first real estate deal. I have read a multitude of books and steadily soak up info from podcasts. I have enough knowledge about what I'm looking for to take that initial fear out of my first deal.
My plan is to purchase a quadplex with a FHA loan and live in one of the units and manage the property myself for the first year or two. (PM costs placed into cashflow analysis though).
I am currently in school and will graduate spring of 2020. I have around two years of work experience in my related degree but not consecutively (Summer internships). I will make my first purchase after I get a job. I assume I should be able to get qualified considering I have previous job experience in my degree specific line of work and will work right away in the same field.
What amount of intial capital or percentage of purchase price should have readily for a 189k quadplex (class c property in class b area)?