Currently House Hacking & Looking To Add More Multi Units.

[Steven B.]

Happy Sunday all, 

Currently house hacking a 4 Plex property in Chicago, utilized the Fanni mai 5% down. Going well so far. Already, In the process of adding forced appreciation by adding an additional dwelling unit & also adding value in other ways. During the process of getting this done I want to continue, and strike while the iron is hot. Trying to expand my Multi property investments portfolio & expand my network with likeminded people to go on the attack & get stuff done. A solid A Team. 

I was thinking to utilize a DSCR loan for my 2nd Multi family purchase this year? open to other financial creative solutions I may not be aware off. Also, I am a little stuck in the sand at the moment. Not sure if I should stay in the Chicago market or Invest out of state in a more land lord friendly state? I hear great things about the OH, FL, TX Multi family markets.... Chicago feels to be saturated and over priced, not finding great deals, but I could be wrong? 

Would appreciate some insight on what you all think? What would you do in my current situation? 

[John Warren]

@Steven B. congratulations on getting rolling with your first deal! 

I have mostly seen investors use DSCR loans once they have tapped out all of the traditional methods. Why not use your FHA loan next? If you used conventional on the first one, FHA is still in your toolbox.

In terms of market, I went out of state early in my career. I realized the grass wasn't greener, and I ended up building back in the Chicago area once again. I have no regrets.