how to get started

Question

I am 18 and am wondering if there are any ways I can get started on MTF 2-4 are there any loans I should try to get or things to do first

Nicholas L. · Answer

@Alex Ontiveros

yes:

-get the highest paying W2 job you can

-reduce your expenses and start saving up some money

-talk to a lender and ask them what you would need to do to be able to qualify for a house hack

good luck

Mark Kenney · Answer

Here’s something most people don’t think about until it’s too late:

If you take out a loan on a property with 4 units or fewer, it’s almost always full recourse — meaning if things go south, you’re personally on the hook.

But when you buy 5 units or more, you may qualify for non-recourse debt — and that sounds safer... until you read the fine print.

Even “non-recourse” loans can come with bad boy carve-outs that still leave you personally liable. Sure, those usually cover fraud or theft — but many lenders quietly sneak in other triggers that you need to be aware of.

Don’t assume non-recourse means no responsibility. Always know what you’re signing and your potential exposure.

Caleb Brown · Answer

At 18 I would learn everything there is to house hacking. You can use lower DP as an owner occupant to get into the door of a 2-4 unit property. Besides that I would focus on earning income, keeping expenses low and don't add on consumer debt such as cars, credit cards, etc. Focus on having high margins between income and expenses so you can have plenty to get started. Just doing 2-3 house hacks can set you up well for when you are older.

Greg Kasmer · Answer

@Alex Ontiveros - I agree with others... Talk to a lender about how you could quality for a 2-4 unit in a house hack scenario. I would also read "Set For Life" by Scott Trench on house hacking. It's an easy, but very important read for someone looking to do what you're doing. Set for Life, Revised Edition | Best-Selling Personal Finance Book – BiggerPockets Bookstore

Good Luck!

Kerlous Tadres · Answer

You're off to a great start thinking about multifamily (2–4 units) at 18. The best loan options for beginners like you are FHA loans (3.5% down) and the new Fannie Mae 5% down conventional loan, both require you to live in one unit, which is perfect for house hacking. Start by building your credit (secured card or authorized user), saving for the down payment and reserves, and learning everything you can through books, podcasts, and BiggerPockets. Get pre-approved once your credit and savings are solid, and connect with an investor-friendly agent and lender who can guide you through your first deal.

Robert Rixer · Answer

All about cash flow at that age. Do whatever you can to build income and save up for a down payment. You can do a whole lot more with even 10k and a decent paying job than you can with $0.

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