Multifamily housing (2-4 Unit)

2 Replies

25 and Currently deployed overseas. I am looking to buy my first multifamily property within the year, in upstate NY. Looking for advice and networking. Thank you!

Hey @Manasseh Arnold - thank you for your service!
I would use your VA Loan to purchase a property in the 2-4 unit range. This would be contingent on you being able to occupy one of the units as your primary residence. To get your criteria dialed in, speak with a lender so that you can have a solid understanding of your purchase power, and what your PITI will likely shake out to.

Once you have these numbers, it will be easier to evaluate and shift through deals.  For sourcing deals, take a look on BP for active investors and/or agents in your target market -- they should be able to get you going in the right direction with deal flow.  All the best!

@David Acosta wow thank you Mr. Acosta. That was exactly what I was looking for and I planned on occupying one of the units. This advice is worth gold to me this early in the game and I'll be sure to keep you updated. I inquired earlier and will be talking to a lender I found after I get my COE, what you said provides the next step necessary. Thank YOU for your service, and prayers for you go out durring this crazy time.