All Forum Posts by: Jonathan Newsome

Bump.

Don’t mind me, just staying persistent, trying to bring my post to life.

Also, if anyone reading this is connected with @TimTrumble could you please ‘@‘ him, I’d appreciate his input in this matter, thanks!

Looking for any kind of guidance or advice, thanks!

@Jeff Morelock thanks for the info Jeff! I’m glad I found this out now through you than attempting to put under contract.

Hi BP! I'm trying to figure out if anyone has any experience using NACA to build a MFH (duplex - 4-Plex) and if that would be a good way to get my foot in the door of house hacking?

I'm over in the RVA area and after much searching, I've found that there aren't many, if ANY 3 or 4-plex's in the RVA areas. This is what got me interested in thinking about NACA.

My idea is this: since there are NO duplex, triplex, or 4-plex's around that part of VA, I'd like to build/construct a 3 or 4 Plex over in the Glen Allen, VA area if permissible. I would obviously occupy one of the units until I could refinance at a later time, possibly 1 to 2yrs down the road.

My question is, has anyone ever done this with NACA? Also, would this be a good way to house hack and would you consider it worth the process? I know it would be a bit expensive constructing/building from the ground up. According to the NACA website and information, MFH's are covered as well as new home construction. I appreciate any feedback I can get, thanks!

@John D. Awesome thanks for your input, it’s greatly appreciated!

As for the rehab work, the $35k would be used to repair the structure work needed (kitchen to living room), then new floors, SS appliances, light fixtures, new paint, remodeled bathroom, clean up around the exterior of house and possibly new hvac.

Not sure if this is what you were asking for, or maybe a breakdown w/costs?

I’d sure like some input BP, thanks!

There's a property that I'm looking for advice on. It's a 3bd/1ba with approx 1200sqft in the state of VA(RVA). The offer or sale price is $65k plus rehab of $35k (which may be more than actual cost of rehab). The property has structural damage (floor between living room and kitchen), This is part of the rehab cost. The ARV for said property is $155-160k, first analysis done by me and 2nd was a CMA through a realtor of mine.

I would like to assign the property and though I would like a small (very) fee for it, I am looking to gain experience out of this more than anything.

@Brian Garrett thanks for your feedback Brian, I greatly appreciate it!