House hacking with new construction 4 plex?

[Hiram Orozco Lopez]

Hello everyone,

I have been doing research about starting house hacking this year, I have been looking at properties to start with at FHA loan in the TX RGV area, starting with a fourplex.

My BIG question here is, would you think it is riskier to start with a brand new fourplex having a bigger monthly pay at the end of the month but; on the other side thinking on not having to get as many repairs as an older building ex. 5 years older. The difference of a new building ranges:

New fourplex building: around 450k-500k

Older fourplex buildings: 375k 

Any thoughts or tips?, The reason I am inclining to start the house hacking with a brand new fourplex is that of course feels more convenient but I am not sure if it is most profitable. 

Any info is appreciate it, thanks in advance.

[Jaron Walling]

@Hiram Orozco Lopez Buy the older fourplex building for $325K. 

Then add value by fixing it up - unit by unit, all while living there. If the new build market values are $450K that's a big spread. This gives you options. You could refinance out of the FHA, remove PMI (if you have any), cash-flow, break even as a house-hack, or sell. That's the biggest goal for house-hacking. Nobody got rich off house-hacking. It's a foundation to grow a portfolio and cut living expenses.