Purchase price: $5,000,000 Cash invested: $1,450,000 Complete combination and gut of two lofts side by side resulting in a 4,000 square foot home.

Not every real estate agent is an investor, and not every agent focuses on 1-4 unit properties, let alone has the ability to purchase them.

We are currently living just south of Boston and are looking to purchase a 2-4 unit property in which we would live in one of the units.

But with that purchase, I bought it with $50k equity in the deal.

However, a multifamily purchase could work quite nicely. 

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.

We were in a financial position where we could keep our existing home, upgrade, and purchase another home.

You may also want to consider purchasing multi-unit properties and live in one of the units.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.