All Forum Posts by: Rachel Thompson

@James Wise, ah, interesting. Would it hurt me if I put 20% down on a single family home and THEN tried to go for a lower downpayment on a multifamily? (Do lenders do that?) I have the cash for a 20% down on a reasonable single family investment property, with cash to spare for remodeling/flipping if I wanted. 

Thanks,@James Wise. I have been considering that at this point. I suppose I am bummed because I felt a 4-plex would be the "biggest bang for my buck". Four units is the most you can get before you are a "commercial" property (5 or above). And my first-time home buyer 3.5% downpayment FHA loan is a once in a lifetime opportunity... since I will only be a first time home buyer only once. It makes sense to me to take advantage of that 3.5% downpayment on a more expensive property, you know?

@Anthoney Hanks, thank you! Would you mind sending me a link to the podcast? I'll look into that.

Thanks, @Account Closed Do you literally just walk up to the front door and knock/ask if they want to sell? I feel like a lot of 4-plexes have renters in them. Is there a good way to find out who owns the building/contact them? (As I mentioned, total newbie.) My hope was really to find a turnkey building for my first property... but yeah, in this market might have to find something that needs work. 

Hello BP!

I am 30 yrs old; have no debt; and have been saving to purchase a turnkey four-plex in Houston. The plan was to put 3.5% down with a first-time home buyer FHA loan. I would then live in one unit myself and rent out the others--two as long term rentals, one as an AirBnB (for starters). After fulfilling my year of living on the property (FHA loan stipulation, right?), I would probably move out and manage from afar.

Sadly, Houston four-plexes have DOUBLED in price in the last year! (Most are running around $900k now.) Talk about deflating. It has me wondering if there are other, better cities ripe with four-plex investment opportunities. Thoughts? Advice? Where would you go/what would you do if you were in my shoes?

Thank you!

RT