Looking for Small 2-4 unit Multi-Family Property to House-Hack

[Grant Schroeder]

Hello BP community! I recently got plugged into the BP podcast by a mentor after I house-hacked my first SFH following my graduation from college. I love the content and valuable information presented on the BP podcasts as well as in the forums I have been reading since creating my BP profile. I am currently searching the market South of Portland, Oregon to house-hack a small multifamily property, preferably a triplex or quad. I have a great team assembled, including a trusted lender and real estate agent working with me. I have been vigorously saving and investing my income to prepare for this next step. I have talked about using a 3.5% down FHA loan with my lender, but also have looked at incorporating the BRRRR method to build equity into a property using a conventional loan. I am interested to hear people's advice on either of these approaches, or even the possibilities of teaming up with a private investor to help with a portion of the down payment. I am a firm believer in the Buy & Hold strategy, an avid reader, and a life-long learner. I am currently employed as an engineer and love working with numbers. Any advice people have on funding my next deal and/or property analysis strategies, is greatly appreciated. I am also open to any book suggestions people might have on any of the above topics. Hope everyone has a great week and I look forward to connecting with many of you!

[Account Closed]

Try this- I owner financed a property for 12 months- and told the seller my plans to fix it up, and rent it out. I put 45k into the complex, and after the appraisal upon completion it appraised for well above asking and the 45k I put it—- hello infinite return!

Run the numbers and see if that will work. Paying for two closings and holding fee’s essentially is dumb.

Tips if your seller mentions “cap rate” etc—- they may be too smart lol... and I only make offers subject to me being able to make the offer directly to the seller!