I’m trying to buy a Cash flowing 4-flex

[Jason Young]

Hi all I’m trying to figure out if I should get a partner or some sort of able lender of sorts.

I have identified a cash flowing 4-plex for $1,150,000 in Southern California that brings in $1850 on 2 units and the larger other 2 units $2200. 2 units are coming available at close and the others have the have tenants in place.

So I’m thinking of renovating the units that are going to be vacant to increase the value, rents and also to cash out refi.

My wife and I would also consider living in one unit while renovating for the tax benefits as a house hack.

This would be our first BRRRR or rental property and I'm not sure how to go about getting the financing and those next steps.

Having 3 units rented calculates to enough to pay a mortgage and allow me to live expense free during renovating.

With those numbers it should be paid off in 10-15 years.

I have a good rapport with the listing agent and I am also an agent and I can use my Commision for down payment assistance.

I won’t qualify for a conventional loan without a co-signer or partner. So I’m not sure if I should consider private money or hard money and refinance in 6-12 months or what my other options are.

Any recommendations on how you would go about this?