Searching for multifamily property

3 Replies | Charleston, South Carolina

Good Afternoon,

I'm sure many of the Charleston investors are aware that duplex-quadplex houses here are not as common as many other areas. I'm trying to 'house-hack' my way into owning my first multi-unit. What resources do you guys use to find multi-unit properties in the area for little down? I have a decent loan officer who is on the same page, I just have to find the property. Do you typically find the properties yourselves or go through whole-sellers? 

Our realtor/investor friend, @John Semanchuk helped us find a SFR with a converted garage apartment on James Island. The house is a fixer upper, so we got an FHA 203k loan for it (2.5% down, if I remember correctly). We rent the garage on Airbnb and it pays our mortgage in the slowest season, and more than doubles that in the peak season.