Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago on . Most recent reply

User Stats

19
Posts
4
Votes
Harry Aiken
  • Anchorage, AK
4
Votes |
19
Posts

Can I use a 4 plex to gain leverage at a faster rate?

Harry Aiken
  • Anchorage, AK
Posted

I want to save 20%-25% down payment for a 600k 4 plex. I plan on it living in it and paying 80% of my w2 wages towards the mortgage. Assuming this 4 plex can generate 48-60k gross income per year, this could mean 70-100k/year pay down on the loan. Id like to pay it off as quickly as possible so i may sell it or refi the property to jump into 2 million plus. Scaling up. Is this worth pursuing? I helped run my fathers trailer park of 30 homes. Taking Rent, screening tenants, lawn care, did a lot of remodeling. I'll use the rent money to cover mortgage, insurance, property Taxes, all other expenses. Cash flow will go into an expense/savings account until the property can be paid in full. What am i missing? 

Loading replies...