Advise on owner occupied multifamily househack?

[Courtney Mccrear]

Investing into Real Estate the last 2 years has been the BEST rollercoaster ever. A literal rollercoaster, but after 2 years I can say Real Estate has allowed me to achieve paying off 80k in consumer debt/ credit cards. Majority of which came from not doing my due diligence from a GC and getting burned for 50k, but wholesale and tax sales have turned it all around!

Getting to the point though… I just subto’d my primary home. I would like to acquire a multifamily in Houston Tx by August. I have 10k in reserves and no debt, what would be your best suggested route to acquire a light rehab multifamily in Houston Metro?

I have my Va loan so I can get traditional lending rather easy by just going on market, but I would like to save that as my last option!

Could anyone give me any advice on managing an owner occupied multifamily?

[Jeff Nash]

@Denver McClure can comment.   He’s a marine vet and is executing your strategy in DFW.

[Courtney Mccrear]

Copy!

[Ryan Thomson]

@Courtney Mccrear If you have a VA loan you have to take advantage of the fact that you can get a fourplex for 0%down. There is no better loan product on the planet that!

[Courtney Mccrear]

Absolutely. I have a larger family though, most 4s are 2bd 1ba. I haven’t found anything suitable on or off market. But I have 2 triplexes I have my eyes on.

[Denver McClure]

Hey @Courtney Mccrear, as Jeff mentioned I am a big fan of house househack strategy and wish more fellow veterans knew about it! I do agree with @Ryan Thomson, save that VA loan for the largest multifamily you can get, hopefully you find one that has 3 bedrooms at least for you and your family! With that amount in reserves, your best option now is to rebuild the reserves and potentially leverage any investment accounts to help you acquire the next multifamily. Happy to chat about it when you get the chance!