Off Market FourPlex's in the Summer 2022 Economy

[Paul Waddell II]

As a 20 something year old realtor in New Orleans, I must say, its tough finding a good fourplex deal that makes sense on the MLS. I am very anxious and worried I won't be able to purchase my first house hack property until I am well into my 30's because of rising prices, interest rates, and insurance rates in NOLA. I'd love to use my FHA to take advantage of a low down payment, but that would mean I would have to stay in my W-2 job (that I hate and doesn't pay much) for at least another year to meet the employment requirements for the loan. Staying in the job for another year also means I'll have stay a part-time realtor, thus limiting my growth and limiting my opportunities to put away my commissions I would put toward purchasing a house hack.

This situation turns my thinking towards off market deals. I hear all the time on all of the BP podcasts that off-market deals are the best deals, however, I haven't made those investor connections yet. To be honest, I feel investors in my area don't put themselves out there and would rather stay as low-key as possible because finding them gets very difficult. Maybe I'm not looking in the right places. I'd love to sit down and pick the brain of a successful, financially free investor who built a cash-flowing portfolio from nothing.

So I guess I'm here today to ask where can I find investors in my area and where can I look for off-market multifamily deals that make sense? preferably a fourplex.

Thanks for reading!

Paul Waddell II