House Hacking a Quadriplex for First Investment Property

[Garrett Casteleyn]

Hello all,

I'm looking to invest in a Quadriplex in San Antonio Texas, but before I start my research, I wanted to ask those with more wisdom and knowledge on what the most cost efficient financing is for a first time investor. I definitely want to live in one of the units for at least a year and I don't want to invest in a bad area. My best bet is to find a distressed property in a good area and renovate it. Or is it? If so, would I be able to get a loan in addition to an FHA for renovations? Looking for any tips and suggestions I can find. Thank you!

[Cohen Woster]

I would definitely look into the FHA 203(k) loan program if you're thinking of renovating a house hack. It may be difficult to find an experienced lender, but from what I've read, it's entirely worth it.