Newbie Looking to House Hack in NE/SE Portland
Hey everyone this is my first post. I am in the saving stages of my investment journey and am trying to figure out what the best path to success would be.
I am interested in my first deal to be one that I can house hack. I am not interested in large single family homes ( girlfriend wants privacy), so really am interested in duplex, triplex, and quadplex's. I have been analyzing deals of duplex's that have sold in the NE/SE area and am not seeing a way to get close to breaking even on the mortgage cost let alone taxes, repairs ect while occupying one of the units.
I will be looking into an FHA loan, so hopefully that means I would only need 3.5% down. Would I be wiser to save a higher downpayment and look for a 3-4 plex that will be likely to break even/ cash flow? My hope is to not stay more than a few years, so eventually that occupied unit will be rented out as well.
I would love to hear from any investors in the area who have any advice, or have gone through the sort of path I am looking to take.
Thanks, Jacob