First property fourplex - homepath

[Kumar Tummalapalli]

Hi There - I am targeting to buy a 4 plex and house hack and take advantage of home path first time buyer program , however I don't have any such things in market currently , but there is one 6 unit in Market . Is it a feasible project to try to convert to fourplex and go for a loan ?  

Anyway to creatively structure this 

[Jeff Kehl]

@Kumar Tummalapalli One thing to look at is if the units are in buildings that might be on separate tax parcels. For instance I bought a 12-plex which is 3 4-plexes on 3 lots. It just happened that the same owner bought 3 originally. 

I would never recommend an investor turn a performing unit into storage or something but, if you could find an 8-plex that is two 4-plexes and get it under contract, you could find someone looking to do the same thing and split the two buildings with them.

Your agent would have to write it as two contracts and make sure both are assignable.