Buying a 4plex 30 percent down with this income

[Brad Pietrzak]

hello bigger pockets community. Me and my wife have been saving over the past few years and finally hit 92k.

There are quite a bit of 4 plexes that popped in the area for 250 to 300k we wanted to put a fat down payment on one and start our houshacking rei journy.

Should we start with a 4plex? We have enough for the downpayment. I want to still only live on her income which is 38k and save my engineer salary for the next 4 plex.

The morgage will probably be around 800 to 900 and taxes lime 500.

Each unit will probably rent for 700 to 800 a month living in one that will give us an extra 2100 to 2400 for paying the morgage and maintaining the property.

Should we go for it? Would we lilly not net anything? I know the morgage would get paid but following the 50 percent rule we would still be out like 300 or so a month ill be looming deeper into the numbers on a property by property basis.

Should w just get a duplex? And have a way smaller payment? 

We really want the bigger property we would be able to buy another 4plex in like 2 to 3 years after this one.

I just want to make sure we wont be stretching ourselfs to thin for this first househack if that is a thing.

Thabks! 

[Jerry Padilla]

@Brad Pietrzak

You only need to put down 25% for a multi-family.

The rest you can save towards the next purchase.

What about using the BRRRR strategy and find one that needs some work or cosmetic updates? You can then force appreciation and cash out refinance the property and use that money to then purchase the next property at a faster rate.