Southern Florida 23 year old looking to start investing in multi family apartments

[John Smith]

Hi all, 

I am looking to get my feet wet in multi family investing. I currently work in insuring the construction of these buildings all over the country and now want to begin investing in cash flow positive projects in my area and later around the country. If anyone is in the area and wants to garb coffee let me know. My expertise is below, hopefully it's can be a mutually beneficial relationship!

I am experienced in underwriting properties risks in crime, flooding, and extreme weather, and developer experience related factors. I am looking to work with people in this community to help them better underwrite prospective properties based on surrounding risks. If anyone is interested in speaking with me, feel free to send me a DM on here. 

I am in the builders risk insurance world and am looking to meet new people in this community and learn more about personal real estate investing. Let’s chat! 

[Clay Asplundh]

Quote from @Tim L.:

Quote from @Clay Asplundh:

Hello John,

South Florida is a strong market right now with lots of population and job growth to the area. Your first property you will make lots of mistakes, but as long as you buy right and conservatively project these mistakes should be manageable. One strategy to consider is house hacking, as if you live in the multifamily property you will be able to qualify for a lower downpayment. It also makes managing the property easier since you will be on site. Good luck!

How low of a downpayment? Can you do FHA on househacked multifamily properties in South Florida?

 Yes. As long as it is 4 units or less, with the minimum being 3.5%.