looking for a fourplex/triplex

Fort Worth, Tarrant County · Member since 2026 · 4 posts · 1 vote

i am and agent but I'm looking to get a fourplex to house hack any one knows who might be selling please reach out. looking in fort worth but will venture a little out just depends under 450k would be great. This would be my second house hack so any tips would be appreciated as well from you veterans on how i should procced.

using conventional lending. thanks

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Dan NelsonBusiness Member
Real Estate Broker · Chicago and Kansas City · Member since 2016 · 80 posts · 62 votes
5h
I work two to four unit house hacks in Chicago, so here is what I would check first.
Since you are after a triplex or fourplex and not a duplex, conventional is the right call. FHA runs a self sufficiency test on three and four unit buildings. It takes 75 percent of the rent from every unit, including the one you would live in, and that number has to cover the entire payment with taxes, insurance and mortgage insurance. Many buildings fail it. Duplexes are not tested at all.
On conventional you can put 5 percent down on a two to four unit if you live in it. The part people miss is reserves. Fannie Mae wants six months of the full payment left in the bank after closing, and that sits on top of your down payment and closing costs. Run that number before you shop. It stops more second house hacks than the down payment does.
Ask for the current leases and a rent roll before you write an offer. On a tenant occupied building you are buying the leases too, and rent that is under market comes with the building.
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Iliya Muzychuk
Fayetteville Arkansas · Member since 2026 · 39 posts · 12 votes
3h
Feels like a good strategy in this rate environment, I see fourplex selling for discounts in markets like LA and thinking of doing the same.
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Ray WilliamsBusiness Member
Lender · Denver, CO · Member since 2017 · 155 posts · 69 votes
2h
Congrats! on going for round two. Dan covered the FHA self-sufficiency test and reserves well, so I'll add a few things that tend to trip up a second house hack on conventional specifically.
The first is what happens to house hack number one. If you're moving out and keeping it as a rental, the lender has to decide how much of that rent counts. If it isn't on your tax returns yet, a lot of conventional underwriting will use roughly 75% of a signed lease against that payment, and some lenders also want to see the deposit and first month's rent hit your account. Either way you'll be carrying two mortgages on the application, so run your DTI with both before you write offers.
Second, the 5% down option on a fourplex is real, but get the mortgage insurance quote at 5% and at 15% side by side. MI and pricing on 3-4 units can be steep enough that the extra down payment earns its keep faster than people expect.
Third, since you're an agent, ask your lender early how they'll handle your commission if you represent yourself. It can often go toward closing, but lenders document it differently, and it's much easier to set up before the contract than to fix at closing.
And on anything near $450k in Tarrant County, get a real insurance quote and the actual tax bill up front. Those two numbers will move your payment more than the rate will.
I am a mortgage broker, and the departing-residence piece is the one I see catch people most often on the second deal. Especially with the brand new guideline that just dropped.
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Caleb Brown
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
2h
I would cold call owners. That'll be your best bet on more leads and finding a solid 4plex.
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