Creative Financing for Multi Fam House Hack

[Erik Wagner]

Hello BP community, I was hoping to get some advice from some investors who have come from similar situations as me. Me and my partner live in NE Ohio (Youngstown/Warren) and we are looking to purchase a multi family unit (up to 4 units) and house hack there. The issue that we are running into is that since we are both 23 we only have about $8k total in our bank accounts together. I've read about creative financing with lower downpayments but I also dont want to use every cent we have for a downpayment and then have nothing left for any issues that come up. Has anyone been in a similar situation? How did you overcome that? At the rate that I am able to save money currently I will likely be at about 12k by the end of the year. I'm hoping that my partner does well as a RE agent but I also want to see if there are any other ways to finance the purchase of something like this?