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Updated over 4 years ago,
Tell me why I SHOULDN'T househack a quad on my first deal
Hello y'all,
I'm 24 y/o and I currently work as a project engineer in the San Diego area. The project I'm working on will last about a year. I'm going to save at least $25k during this project then go to Phoenix, AZ to get my first deal. My plan is to find a quadplex and househack it to have small or no housing expenses (cashflow while living there would be ok too of course). I would try and finance it with a 3.5% down FHA. I have been obsessed with BP and REI for about two years now and feel I have equipped myself with the basic knowledge and tools to do my first deal. I am feeling summer 2021 will be the time to actually pull the trigger. I have began my search of agents in the area to help me understand the Phoenix market better.
Tell me all the reasons why I shouldn't do this!! Because to me it seems like a good idea.
Any advice from RE vets or newbies like me would be greatly appreciated!!