This is the first question every new investor asks me, so here are the real numbers. š°
Buying a 2 to 4 unit property as an investment generally takes around 20% down. On a $1M fourplex, that's about $200K. Cross into 5+ units on the commercial side and plan for around 30% down, so a $2M building takes roughly $600K.
But here's the shortcut most people miss: if you LIVE in one of the units, FHA financing drops a 2 to 4 unit purchase to just 3.5% down. That same $1M fourplex now takes about $35K. That's why house hacking is the fastest way in. š
Budget a little extra for closing costs and reserves, and the picture is complete. No mystery, just numbers. š
Comment "CASH" or text me and I'll run the exact numbers on any building you're eyeing.
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562-600-9793
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Ray@Mira-RealEstate.com
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@raymiramontes_realestate
Ray Miramontes, Circle Real Estate
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