Updated 7 months ago on . Most recent reply
US Veteran Seeking Stats/Historical Performance on 4-Plex House Hacking
Doing some prepwork for my first house-hack. I've been drawn to the 4-Plex method where you use your VA home-loan to purchase a 4-plex then rent out 3 of the units. However, I could use some historical performance information on how this 4-plex method stacks up. This is for the greater Dallas/Fort Worth area. I'm a rookie so bear with me if I get these terms wrong. When I mean "performance information" I mean things like Rent Growth, Vacancy/Absorption, Price Per Unit, etc.
Also, is there any other financial information I should be looking for, especially considering doing this for the first time? I'm literally going to be doing this for the first time ever? Thanks for all the input in advance guys
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- Property Manager
- Royal Oak, MI
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@Robert Ok you can go to Zillow, enter the address of any 4-unit and see Zillow's history of the value and rents.
Future rent growth is only a guess - much like trying to predict the future price of a stock.
Vacancy/Absorption will be difficult to get just for 2-4 unit properties - the local real estate board might have it for ALL rentals.
Price/Unit you can also get off Zillow or the real estate board.
NOTE: you're really over-analyzing, which may result in analysis-paralysis. Run the numbers bases on today's info and use 3% rent growth.
- Drew Sygit
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