Beginner in New Jersey with a clean slate

[Tyler Gilbert]

Hello all! My name is Tyler and I'm here to introduce myself as a new member of Bigger Pockets and the real estate community. As a younger professional with zero debt, I'm interested in learning more about the analysis and purchasing process of multifamily properties with the intent of executing an owner-occupied strategy.

While my goal would be to purchase a triplex or quadplex near my current area in New Jersey, I've seen that they can be quite hard to find. Considering my inexperience in the market driving a lack of capital prepared, I've been looking at the requirements of an FHA loan. I think the FHA fits my goals and current situation better than a DSCR loan. However, if anyone has recommendations on alternative methods for securing capital like private lenders, please let me know.

Also, I'm in the process of learning how to underwrite through online courses, but finding rental comps for MF seems a bit more complicated than single family homes. If anyone has good practices that they follow when undergoing underwriting for MF properties, I would appreciate any tips.

Thanks for taking the time to read my introduction post. I think I'm a bit of an oddity in that I've been researching personal finance and real estate for years (still nowhere near an expert), but have never taken the step to reach out on forums to like-minded peers. I'm excited to connect with you all and learn more!

[Tyler Gilbert]

Thanks John, this is super helpful! Great to have information consolidated together like this.