1st investment. Moving to Sacramento. Buying duplex and do househacking. need advice!

[Sangwon L.]

Hello!

This is my very first post on BiggerPockets. I have been reading the forums without an account, and I think it’s now time to step up and ask for some advice from experts!

My fiancé and I are planning to move to Sacramento from the Bay Area. This move will be purely for our first investment in real estate. We have been reading The Multifamily Millionaire by Brandon Turner and are very 100% sure about buying a multifamily property as our first investment. We are looking to buy a duplex (possibly a triplex or fourplex, if feasible) using an FHA loan. We plan to live in one unit and rent out the others. Hopefully, this first investment will launch our journey in real estate.

Here are some criteria we have in mind:

• Not in downtown Sacramento
• Class C+ or B location, since we will be living in one unit (we just want a safe location)
• Units with shared walls, not ceilings
• Separately metered
• Fairly renovated or well-maintained (not a fixer-upper, but if one unit is renovated and the others need some work, we would love the experience of fixing and renovating)

Can you think of any other factors we should consider? We are very flexible and would highly appreciate any suggestions or recommendations you might have!

I would love to speak with local investors, agents, and lenders in Sacramento. Please let me know if you are open to discussing!

Thank you for all your support!

[AJ Wong]

Quote from @Sangwon L.:

Hello!

This is my very first post on BiggerPockets. I have been reading the forums without an account, and I think it’s now time to step up and ask for some advice from experts!

My fiancé and I are planning to move to Sacramento from the Bay Area. This move will be purely for our first investment in real estate. We have been reading The Multifamily Millionaire by Brandon Turner and are very 100% sure about buying a multifamily property as our first investment. We are looking to buy a duplex (possibly a triplex or fourplex, if feasible) using an FHA loan. We plan to live in one unit and rent out the others. Hopefully, this first investment will launch our journey in real estate.

Here are some criteria we have in mind:

• Not in downtown Sacramento
• Class C+ or B location, since we will be living in one unit (we just want a safe location)
• Units with shared walls, not ceilings
• Separately metered
• Fairly renovated or well-maintained (not a fixer-upper, but if one unit is renovated and the others need some work, we would love the experience of fixing and renovating)

Can you think of any other factors we should consider? We are very flexible and would highly appreciate any suggestions or recommendations you might have!

I would love to speak with local investors, agents, and lenders in Sacramento. Please let me know if you are open to discussing!

Thank you for all your support!

Hi Sangwon and welcome! Such a fantastic book, FHA financing is a highly effective house hack and can be combined with a sellers concession or up to 3% with 3.5% down to reduce or completely cover closing costs. I'm an investor RE broker focused on multi family and luxury STR's feel free to DM me to connect. Definitely check in with my strategic lender since 2003 @Joseph Chiofalo they have some exceptional FHA programs and he is one of the best in the business. Good luck!