11 doors in 2 years investing while in the Military
My wife and I are 27/28 years old and live in Clarksville, TN. We bought our first quadplex with a VA loan a little over two years ago in Clarksville, TN. We bought it for $305,000. We lived in one unit and rented the other three out.
Shortly after that we tried our first loan assumption with success. It was originally purchased for $165,000 and we took over the loan amount for $153,000. I currently estimate its worth $185,000. The mortgage is $1,000 and we rent it out for $1,250.
Because the loan assumption went well we decided to do more. The next one was originally purchased for $180,000 and we took over the loan for $169,000. I currently estimate its worth $190,000. The mortgage is $1,050 and we rent it out for $1,495.
Our most recent loan assumption was originally purchased for $135,000 and we took over the loan at $125,000. I currently estimate it is worth $145,000. The mortgage is $840 and we rent it for $1,250
This week we closed on our second quadplex with a FHA Loan. We bought it for $330,000 and another quadplex down the road is on the market for $345,000, which was under contract in one day! So in just 2 years we have managed to purchase 11 doors.
How do you thank we are doing? And advice or questions are welcome!