Getting ready for first multifamily deal
Hello all,
I am trying to get into multifamily investing soon (by next year) and am thinking about purchasing a 3-4 unit as a first time home buyer and house hacking. My ultimate goal is to be in the commercial space and buy these much larger deals. The issue of course is that it will take a long time to save up enough money for a down payment for a commercial sized property.
Do you guys believe house hacking a 3-4 unit apartment as a first time home buyer is a good way to accelerate my income so I can get into the commercial game quicker? Maybe hold it for a couple/few years and then sell it and use the profits as a down payment? I'm mostly concerned about buying a smaller deal like this because I won't be protected in a market downturn with only 2-3 tenants, and also the property not generating enough cash flow for it to really be worth it.
What do you guys recommend as a great place to start, knowing that the goal is to get into these larger commercial sized apartments as quick as possible?
Your friend,
Nick