Duplex, Tri-Plex, 4-Plex House Hack

[Jonathan K.]

Hello All, 

Hopefully everybody is healthy! 

I'm currently looking to buy a duplex, triplex, or fourplex (REALLY WANT A 4PLEX) as a house hack within the Los Angeles area it can be anywhere from East Los Angeles to as far as South Bay and back up to Santa Monica Area. Most likely though South Central, East Los Angeles, or somewhere like silver lake, los feliz, downtown are probably the most ideal locations. 

I'm just curious what you guys think is the best bang for my buck in these areas and what may or maybe a smart or not so smart area to look into. I plan on using an FHA loan at the 3.5% and putting down as least as possible. I have a 750 credit score and I believe my range would be about $700,000 give or take so I feel like I'm in a good position, but I really need to lockdown my research.

Open to any discussion points, help, general advice, anything really! Thanks so much Guys! 

[Dustin Allen]

Using an FHA loan and leaving a unit vacant is not "no hassle". It's called mortgage fraud. FHA loans are for owner occupant purchases only. If you want a triplex or a quad, you will need to put 10% down. 3.5% down only works on single family or duplex.

If you wouldn’t want to live in it, I don’t suggest buying it.