Hello, I am a new investor looking to obtain my first multi-unit property near Sacramento, CA.  I have been saving, building equity in my home and working to build my team. I am looking to house hack with this multi-unit but I am nervous to pull the trigger. I’m looking to build relationships and connect with others with the same mindset. 

Thank you for any connection or support

Hello Matt,

Welcome to BP. You may want to check out this meetup which occurs every month mostly on the first Monday: https://www.biggerpockets.com/forums/521/topics/872445-west-sacramento-re-investor-meetup

It took place in West Sacramento before Covid; it's pretty much a greater Sacramento area meetup. Topics vary from month to month. If you tell the organizer, you want to discuss multi-family, there is a very good chance he will include that as a discussion topic. 

Good luck and hope to see you on the Zoom call in October. 

Hi Matt, 

You are definitely in the right place for finding help. Let's narrow down what you might be nervous about. What are your goals? Does the property you are looking at fit into those goals? What are the risk? What is your exit strategy? The more specific you can be the better advise you will receive. 

Best,

Justin

Hi @Matthew Rives , that’s very exciting - good for you!

Here is another local (but virtual) meet up happening on Tuesday https://www.meetup.com/Everyth... 

@Jon Catterson

I really appreciate you getting back to me and I am definitely interested in this meet up. Thank you and I look forward to reaching out.

@Roxanne Quane

Thank you for the information and I will be looking into this meet up. I appreciate the connection.

@Justin Cecil

Hi Justin,

I appreciate your response and great questions. So as of right now I am assembling my team with the initial goal of getting my first multi-family property in which I plan to house hack. Long term I plan to continue to build my portfolio year over year.

I think what I am nervous for is the first deal because I know it will be essential for me to be successful moving forward. I am living in my home now and have a good amount of equity built up. I am thinking of the timeframes for buying/moving into a new duplex but also selling the home I have in it. Since I have saved and built things up to get to this point to be able to purchase the new property I just want to make sure I handle things appropriately.

Thank you,

Matthew

How is the equity in the current home? Would it cash flow as a rental?

House hacking a multifamily is a little different than sfr as your options for neighborhoods is really slim.

@Derek Jones

Hello Derek,

I have roughly 100-150k in equity in the home. As far as making it into a rental I’m not sure I would have to dig deeper. Personally i would prefer to have a newer rental in a nicer area.

I do see multi-family properties come on the market in nicer areas than I am currently in, of course this is much less frequent. I wanted to make it a starting point so I can get in with much less down as well as get the experience of managing the other side to kinda get my feet wet and at least for that first property not have to have property management.

I am of course open to many ideas.

Thank you,

Matthew Rives

@Jon Catterson

Hello Joe,

I was wondering if you had information for the October zoom call? I am very interested to be on that but I could not find information about it in the link. Possibly I just missed something.

Look forward to hearing from you

Matthew Rives

Originally posted by @Matthew Rives :

@Jon Catterson

Hello Joe,

I was wondering if you had information for the October zoom call? I am very interested to be on that but I could not find information about it in the link. Possibly I just missed something.

Look forward to hearing from you

Matthew Rives

Hey Matt, this should take you to the current post: https://www.biggerpockets.com/forums/521/topics/876927-west-sacramento-re-investor-meetup. Let me know if it doesn't. 

@Jon Catterson

It worked perfectly, thank you. Looking forward to connecting with you.

Matthew Rives