House Hacking to get start Real Estate investing
Hello all! I have a question, and I'm hoping someone has someone that can help me get into doing this. I have admitted to not having any capital of my own, so I am trying to find alternatives to helping me start. I would like to find a multifamily home (duplex or triplex) where I can live in one of the units while taking care of the property/tenants. But this is what I'm thinking ( and where I need your help) is finding someone to fund the investment, and then of course, talk about how to work that whole thing out. As long as I live in the unit, be an LP to the investment, get 80/20? ( I don't know, again something to be talked about, regarding the split) and whatever else needs to be done. I'm still trying to find someone experienced who can help me get this going. I am actually looking in the Coos Bay, Oregon area ( I had to say "Bend" because they didn't have Coos Bay listed in the drop down for "location" above. If anyone is living in Coos Bay and could help, or anywhere in Oregon that could help, that would be a plus. Otherwise, I need thoughts, ideas or workaround ways to do this? I would love to have a working relationship with a capital partner/investor who may be interested in something like this. Please let me know. Thank you all for your time and have a Beautiful Day! ~Tara
Most Popular Reply
Tara, I actually like the idea, especially since you’re willing to live in the property and take an active role. The tricky part is finding a capital partner who’s comfortable with the structure and making sure the numbers work for everyone. I’d also keep an open mind about going out of state, especially Midwest markets, where duplexes and triplexes can be much more affordable, and the cash flow can make the partnership easier to structure. With the right local lender, property manager, and contractor network, you don’t necessarily have to limit yourself to Oregon.