Some do not allow access or inspections, and some will not have utilities turned on so its tough to determine what is and is not working.

For example, several years from now when rents are up and you refinance to a lower rate suddenly you will have cashflow you were not imagining when you made the purchase. 2.

Double check that before purchasing a property. 3) FHA 203k loans would obviously be ideal in a vacuum to factor in renovation costs into loan to decrease your out of pocket expenses.

Purchase price: $100,000 Cash invested: $28,000 4 unit: 1 bed 1 bath each. 2 upstairs and 2 downstairs. $475 for 3 units $450 for 1 unit.

Hi everyone,At the end of July, my girlfriend and I successfully purchased our first house hack! 

Hello Ilya,Where are you looking at purchasing your 1st property.When converting a property from a single family to a multi family, you will need to check on the zoning requirements, depending on your location, not every location has zoning.As far as lending goes, it is far easier to finance a single family up to a quadplex, than financing 5 plus units, the DSCR Market for 5+ units is extremely low right now, and there are few if any lenders in that space.For financing 1-4 units, there are Millions of dollars chasing those loans, so you can easily obtain long term financing, at rates between 5-7%.Please reach out if you have a property identified, and I can help you with financing options.

Purchase price: $850,000 Cash invested: $140,000 Sale price: $1,476,500 Source: Cold Call12 unit multi familyPurchase: $850kLoan 1$250k 1st position loan (down payment to seller)2 yr balloon,12% interest onlyLoan 2$600k 2nd position seller finance3yr balloon, 0% interest, 30 yr am, 8 month deferred paymentsThree 4 unit buildings.

Purchase price: $250,000 Cash invested: $15,000 Sale price: $385,000 This triplex is my first deal.

Sale price: $325,000 Bought my first property 2020 for my primary residence and was able to purchase another property in 2024.Moved into the new property and converted my 2020 property into a rental.

Purchase price: $250,000 Cash invested: $15,000 Sale price: $385,000 This triplex is my first deal.