I want to purchase my second property within 4-6 months of moving into my multifamily house hack, but looking for a guidance on the strategy to do so.

The purchase contract makes the buyer legally responsible for the loan. 

Purchase price: $355,500 Cash invested: $75,000 Rental Property near community college What made you interested in investing in this type of deal?

I currrntly own a home and am renting it out, I am working on purchasing a duplex.

The rule of thumb for me used to be that the property needs to be able to do 20% of the purchase price in gross rental income.

If you are coming in with 235k, you probably would not need much more, if any, to make the purchase.

Hey Cameron, for experienced investors I can lend up to 100% of the purchase and rehab costs on 1-4 unit properties.

@Jerry Velezif a property is owned outright with no mortgages, debts or liens on it, then it can (potentially) be purchased on seller financing. 

Because for a certain type renter it’s just SO easy to continue renting fully furnished rather than having to spend $20-40k on furniture; come up with a down payment on a house purchase; and or worry about repairs and maintenance.  

In 1-2 years you could save enough to purchase a home to house hack.