House Hack with 4, 6 or 8 investors.

[Zac Domingo]

Greetings everyone. This is my first post :)! So I live in Contra Costa County, California and want to purchase my first property by house hacking a multifamily. My question is that I want to find investors that also want to do the same thing; example buy a 6plex with 6 investors and all of us pay equally but separately for our own units. So I would like to have us all on the loan together and buy a fixer multifamily that we can all work on together to continually exchange. I want to know how to go about legally finding a group to do this together. Does something need to be in place before I can "assemble" this group. Short answers are fine and all help is appreciated, feel free to send me links or maybe a BP podcast that addresses this process. 

As I've heard in earlier episodes I understand that I can't legally just start asking for investors to go in on a deal. What if all involved are living in every unit. 

I realize this question has a TON of variables but just looking for guidance on where to start this process. Thanks!

[Greg Dickerson]

Originally posted by @Zac Domingo:

Greetings everyone. This is my first post :)! So I live in Contra Costa County, California and want to purchase my first property by house hacking a multifamily. My question is that I want to find investors that also want to do the same thing; example buy a 6plex with 6 investors and all of us pay equally but separately for our own units. So I would like to have us all on the loan together and buy a fixer multifamily that we can all work on together to continually exchange. I want to know how to go about legally finding a group to do this together. Does something need to be in place before I can "assemble" this group. Short answers are fine and all help is appreciated, feel free to send me links or maybe a BP podcast that addresses this process. 

As I've heard in earlier episodes I understand that I can't legally just start asking for investors to go in on a deal. What if all involved are living in every unit. 

I realize this question has a TON of variables but just looking for guidance on where to start this process. Thanks!

 I would not advise you to do a deal like this with that many partners much less owner occupied. That will be a nightmare and guaranteed to not end well. Your best bet is to raise the capital from a private lender or syndicate the deal. If you do a 506c you can do general solicitation to find investors if you do not have a network or time to build one first.

First step however is to educate yourself on the market, the business including proper legal structures, financing and how to raise capital. You need to be an expert or assemble a team of experts before people will trust you with there capital.