Looking for Markets, 4-plex House Hack

[Trevor Brown]

Hey BP! I am under contact for my first deal, a solid cash flowing duplex, and should close at the end of November. I am now preparing for my next investment and have a few options, one of which is “house hacking” a 4-plex. My plan would be to live in one unit and remodel all units over a year or so, then exiting when the time is right or renting all 4 units after I can legally move out. Ideally I would like to find a city where I can find a 4-plex under $1,000,000 and where I can live in one unit and rent the other 3 units. I would like to find somewhere that the rental market is strong enough to cover my mortgage just renting the 3 units out. Once I remodel and raise rents I would like to be slightly cash flowing so once I move out of the 4th unit I can rent that out and cash flow heavily. I might want to sell it, refi after the remodel etc too. I live in Denver and the market here would not support this plan. If I am wrong and you live here and dIsagree please let me know that too! Any help here with cities or towns you have heard of that support this plan would be appreciated before I head out on this journey into the abyss. Thanks! -Trevor B.Denver

[Kevin Grinstead]

Hi Trevor, I think there are places here that would support your plan. I think we could easily find a few quads or at least triplexes that meet this criteria and let you house hack one and rent the others. it would probably be in the outskirts of Denver or the other cities like Commerce City or even Lakewood.