Secret To Finding Off Market And Turnkey Properties?

[Shera Ewing]

Does anyone know the best way to finding off market and turnkey listings? I'm trying to purchase my first multi family home to house hack. I'm working with an agent but there just isn't much out here. And if one does come up, it needs more than cosmetic work or it gets snatched up so fast! If anyone knows of a better strategy that could work better for me, please leave all suggestions. Thank you!

[Jonathan Greene]

You aren't going to find an off-market, turnkey property when you are working with an agent and using an FHA loan. Off-market properties, in general, are for cash buyers. To buy a turnkey off-market multifamily right now, you would have to pay way over market value. The only chance would be finding a lazy owner who wants to get rid of one, but that means it will not be turnkey due to that same laziness. A turnkey multi you sell on the market and get paid by the droves of house hackers that you keep losing out to. Just stay the course and keep looking and know that to win with an FHA, you need a fixed-up option and you need to pay up so if your price point is 300 say, look at 250.