Need help finding my first multi-property. I am looking to house hack for at least a year. I’d like to live in a decent neighborhood given Houston’s crime rates. I want to use BiggerPocket tools such as “rental property calculator” to run my own numbers. My problem now is finding the best places to look for available properties...
Hey @Devaney Ramirez ! Look for (or better yet get a referral for) a realtor in your area to connect with. They'll be able to set you up with an MLS "drip" that will email new multi family properties that meet your criteria as soon as they make it onto the MLS. That'd be the best way to get a consistent flow for you to analyze properties to see what will work for you. Good luck!
Respectfully disagree with Luke. If you're going to find an agent that's just going to tell you about MLS stuff, you might as well go to har.com yourself, setup a saved search, and have HAR email you when property that fit your criteria hit the market.
The only reason to hook up with an agent is if they know of off market deals. Most don't. Unless they're a broker/agent that specializes in multifamily and are making calls / networking with owners to bring their clients stock.
@Devaney Ramirez I"m being specific here but there's a section of 3/2 + 2/1 duplexes off Lakeside Estates Drive (closest major intersection would be Wilcrest and Briar Forest) that I really like. If you have your multifamily search up and you see one pop up there, I think I would be worth your time to check out.
See this post from about a month ago, link below. Same advice I gave then, now applies twofold.
I'd look for an agent that understands what you are trying to do. They should help be able to guide you neighborhoods to focus your attention on.
@Lee Hampton makes a great point, applicable multiple markets these days. If you can build for the same price or close to it then it's a much better deal. I have a build to rent property, the cash flow numbers aren't great but it's a great tenant and super low maintenance and head ache early on. Maybe you should connect with Lee and see what he's got going on!