Im moving to san antonio tx late next year and was wondering how the market was for multi family homes there.is there alot of fourplexes,triplexes,and duplexes available?

There are usually a good number of small multifamily properties for sale here in San Antonio. The best deals sell very quickly, but it's not terribly difficult to find one that works as a house hack. At the moment, we have unusually low inventory, but there are still a few properties that would work, depending on where you want to be in town.

@Joseph Cacciapaglia great. Thx for the reply. You have alot of experience with both buying and representing people who are looking to buy multi family properties?

Originally posted by @Marlon Brimmer :

@Joseph Cacciapaglia great. Thx for the reply. You have alot of experience with both buying and representing people who are looking to buy multi family properties?

 Yes. I've bought anything from duplexes to 10 units for myself, and I spend most of my time representing clients in the small multifamily space. I've even been involved in several 100+ unit apartment deals, but that's not my focus anymore.

In the case of the small San Antonio multi-families you'll need to be as ready to move as possible. The market for these is VERY competitive, so much so that some are willing to pay extra. Having your ducks in a row in advance will give you the advantage you need to capitalize when a good deal comes along. 

Are you looking more for a duplex that's in top shape already or looking to buy something on discount that needs repairs first before move in? There are pros and cons to both sides I'm just curious what your angle and end game is?

@Christopher Campbell hey. Thx for the response. Im looking to start off in a fourplex with me occupying one unit. I was thinking about going with the 2o3k renovation loan,find a place that needs minor work so i could get that equity,live in it for a year,refinance the loan,and doit again.im not opposed to getting a triplex or duplex first. But i was thinking 4-3-2 then get my main home. And after im done with the house hacking,maybe get into flipping,or the brrrr strategy. Im in cali at the moment, but ill be moving to san antonio tx late next year and ill have all my ducks in a row by then.. money,emergency funds,knowledge,and clean debt

Originally posted by @Marlon Brimmer :

@Christopher Campbell hey. Thx for the response. Im looking to start off in a fourplex with me occupying one unit. I was thinking about going with the 2o3k renovation loan,find a place that needs minor work so i could get that equity,live in it for a year,refinance the loan,and doit again.im not opposed to getting a triplex or duplex first. But i was thinking 4-3-2 then get my main home. And after im done with the house hacking,maybe get into flipping,or the brrrr strategy. Im in cali at the moment, but ill be moving to san antonio tx late next year and ill have all my ducks in a row by then.. money,emergency funds,knowledge,and clean debt

The 4-3-2-home is a great strategy. If you're willing to move regularly, house hacking is my favorite strategy. I would try to talk to several people who have used a 203K though. I've never met someone in real life that did one and was happy about it. It does sound great in theory though. 

One of my little sisters (they both invest) did basically this strategy, but used regular FHA financing and self funded some cosmetic renovations. She did a fourplex, then duplex, then a single family with extra land to add a unit. The triplex step is hard in a lot of markets, because they're less common than 2 or 4. I started with a duplex, and then did a few single family house hacks. If you're moving into larger homes each time, it seems to still work.

Agreed. I haven't heard too many good things about the 203k rout either. The good news is that, like Joseph is alluding to, there are different financing methods you can use to achieve the same goals. You may need to get a little creative. Networking with hard/private money lenders, traditional lenders, and doing some more research into the finance aspect of REI could do you some good.

If you plan to refinance it'd be a good start to have that duck lined up in advance. From there you'll be able to determine the best rout to take for getting the deal done plus whatever rehab it may need. You could talk to the different lenders about options and shop the best fit for you. I think there will be a bit of competition in your favor if your exit strategy is lined up. Plus, from what I've experienced, you'll typically be able to come out with a solid chunk of equity to continue your plan. 

@Christopher Campbell thanks for the advice.. im still researching the different loan options. What are sone of the negatives on 2o3k ?