Purchasing a multi-unit as a vacation home?

[Jason Newberg]

Hey Guys and Gals

My name is Jason, and I just joined BP today - what a wealth of information! I'm in the Northern Virginia area now, but my wife and I would like to buy a vacation home in Southern California. Is it possible to purchase a fourplex (keep one unit vacant as our vacation spot) and finance it as a second/vacation home? Thanks in advance!

Jason 

[Kevin Fox]

Hey @Jason Newberg

I think it's a great idea to buy a 4-unit for a personal VR. No reason not to have others helping pay the mortgage & build equity.

I know you can make that happen with conventional investment financing (25% down), but I have to defer to @Jerry Padilla on the differences/feasibility of financing it as a personal vacation property. 

Where in So-Cal are you thinking about buying?