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Updated over 2 years ago,
My fist deal! looking for my fist Multi-Family.
Let me start by giving thanks to all the good people that dedicated themself to providing all the information that's helped me do a complete 180° on my original plan of buying a single-family home. A little background I've currently been completely priced out from my current city Miami for this type of property (well, at least a good move-in ready opportunity with a little bit of cash flow at the end of the month), but the good thing is that I work from home, which gives me the opportunity to have a massive footprint for my ongoing search mostly looking at:
Davenport - Clearwater - St. Petersburg - Sebring
So, the original plan was to max out my pre-approved amount of $420K with a 10% down conventional. Based on all the information, that amount can significantly increase if I find a good deal for a triplex or a quadplex. Now, this new path has led me to ask so many questions:
Is there a way to find a dependable list of multifamily properties?
Am I able to convert a unit into an Airbnb?
How much can I actually afford?
Can I add ADU's if the lot is big enough?
This baby chick needs help to spread its wings