House Hacking Multi-Family Properties

[Jullian Xiong]

Hey my name is Jullian Xiong I am a new to Real Estate investing. I have a plan this year to house hack a 4-plex investment property but would love to hear from experience investors who have important information that a newbie should look out for when purchasing a 4-Plex unit investment property ? Thank you in advance for the information given. 

Sincerely Jullian Xiong,  

[Michael Dumler]

@Jullian Xiong depending on your market, more likely than not a fourplex that is listed on the MLS will not be completely vacant, therefore, as I've noted in other posts, you need to verify that the current tenants have been paying on time, what their current rents are set at, and when their lease is set to expire. With that in mind, make sure you are working with a lender who will close on a tenant-occupied property. I would start networking now with local investors and agents to connect with someone who has house hacked a 2-4 unit property before to get their insights. Furthermore, to be upfront, you're competition is stiff. Most 2-4 unit properties are in high demand with deals receieving multiple cash offers well over asking. I would try to niche down on a specific market that may not be seeing the demand like some other areas. Hope this makes sense and helps!