2 ms·
If you buy a multifamily you can do so with as little as 3% down. Rent out the rooms in your unit and you're generally good for most markets.
by tabeth 9y ago
If you buy a multifamily you can do so with as little as 3% down. Rent out the rooms in your unit and you're generally good for most markets.
- bequanna 9y agoThe big caveat here is that you have to actually live in one of the units. This is commonly referred to as 'House Hacking' and you can buy up to a 4plex, I believe. Otherwise, barring some creative financing, you'll be putting down 20-25% of the purchase price.
- tabeth 9y agoAbsolutely right here. If you're not an owner occupant it doesn't make sense. One other reason you want to be an owner occupant, in addition to financing, is that you're closer to the action, meaning your property will be far less likely to be ruined as you respond to things way faster.