http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/ Learn, Network, Invest Mon, 23 Nov 2009 07:23:11 -0500 http://wordpress.org/?v=2.8.5 hourly 1 http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/comment-page-1/#comment-73783 Jeremy Mon, 05 Oct 2009 11:51:34 +0000 http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/#comment-73783 another thing is the ones i am looking at are all rented out and have loyal renters and they are all 2bed/2bath and i am going to be doing an fha loan with a 3.5% down and 8000 tax credit and 4000 rebate from my bank to is it a good idea or will it be a headach. another thing is the ones i am looking at are all rented out and have loyal renters and they are all 2bed/2bath and i am going to be doing an fha loan with a 3.5% down and 8000 tax credit and 4000 rebate from my bank to is it a good idea or will it be a headach.

]]> http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/comment-page-1/#comment-73782 Jeremy Mon, 05 Oct 2009 11:47:06 +0000 http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/#comment-73782 okey i have a question is it a good idea to buy a 4 plex in low income areas. the ones in new mexico all seem to be in low income areas here. okey i have a question is it a good idea to buy a 4 plex in low income areas. the ones in new mexico all seem to be in low income areas here.

]]> http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/comment-page-1/#comment-62225 Prub Mon, 08 Dec 2008 20:39:24 +0000 http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/#comment-62225 With a FHA Loan. How much would you have to put down as a down payment on a property that is worth $210,000 when buying a 4 unit plex? With a FHA Loan. How much would you have to put down as a down payment on a property that is worth $210,000 when buying a 4 unit plex?

]]> http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/comment-page-1/#comment-57061 Tom Lindmark Tue, 27 May 2008 01:25:47 +0000 http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/#comment-57061 Good advice but I would add a couple caveats. Make sure the price per unit is not too far out of line with apartments and don't forget to do the math to make sure the place will cash flow. Because 2,3 and 4 unit buildings qualify as residential as opposed to commercial propertied, hence commanding better financing prices were bid way up in parts of the country during the bubble. If you over pay on a per unit basis you will limit your exit strategies. Good advice but I would add a couple caveats. Make sure the price per unit is not too far out of line with apartments and don’t forget to do the math to make sure the place will cash flow.
Because 2,3 and 4 unit buildings qualify as residential as opposed to commercial propertied, hence commanding better financing prices were bid way up in parts of the country during the bubble. If you over pay on a per unit basis you will limit your exit strategies.

]]> http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/comment-page-1/#comment-57028 Bernars Mon, 26 May 2008 01:48:52 +0000 http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/#comment-57028 Please, who can explain me, what is difference betveen buying 4-plex in contrast to smultaneous buying any package of 4 separate condo/homes as regards to favourable mortgage conditions? From previous posts I understand (probably, I don`t right?), that lender refers to 4-plex as to one unit, as first RESIDENTIAL unit for the premier borrower, and so he is ready to give better conditions vs 4 separate units, because a lender consider this package as COMMERCIAL property. But just house w/more than 3 unite, according to law, is estimated as COMMERCIAL? NB. Sorry for my elementary question: I`m a tyro in RE. Please, who can explain me, what is difference betveen buying 4-plex in contrast to smultaneous buying any package of 4 separate condo/homes as regards to favourable mortgage conditions?
From previous posts I understand (probably, I don`t right?), that lender refers to 4-plex as to one unit, as first RESIDENTIAL unit for the premier borrower, and so he is ready to give better conditions vs 4 separate units, because a lender consider this package as COMMERCIAL property.
But just house w/more than 3 unite, according to law, is estimated as COMMERCIAL?
NB. Sorry for my elementary question: I`m a tyro in RE.

]]> http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/comment-page-1/#comment-56982 Nadine Fri, 23 May 2008 06:58:30 +0000 http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/#comment-56982 Nice opinion...I don't even think about buying 4 plex the whole my life before...But, I think this crisis has changed everything, including my way of thinking. Nice opinion…I don’t even think about buying 4 plex the whole my life before…But, I think this crisis has changed everything, including my way of thinking.

]]> http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/comment-page-1/#comment-56979 Troy Schuricht Fri, 23 May 2008 03:23:00 +0000 http://www.biggerpockets.com/renewsblog/2008/05/22/my-advice-buy-a-4-plex/#comment-56979 With proper preparation, education and mentoring a first time investor should be able to handle a fourplex. Remember the key to investing in real estate is your team, make sure if you buy a four plex you have resources of individuals that actually own fourplex’s too. With proper preparation, education and mentoring a first time investor should be able to handle a fourplex. Remember the key to investing in real estate is your team, make sure if you buy a four plex you have resources of individuals that actually own fourplex’s too.

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