Updated 2 days ago on . Most recent reply
Va home loan first time.
Hello, I'm looking to buy my first multifamily property, I plan on using my Va home loan, I've been doing a lot of research as well. it seems a bit hard to decide what is a good deal and what is not.
I prefer a quadraplex or a triplex but it seems that those are more rare than a good duplex. If I can just get some kind of guidance on how to spot a good deal or perhaps negotiate one. I too one day want financial freedom.
Most Popular Reply
Antonio,
Based on what state you want to live in it comes down to location/neighborhood for the best rents/ARV potential. Majority of my VA investors use their DD-214/Certificate of Eligibility to start buying with Zero down. One tip is if you plan on buying any multifamily 2-4 units properties its best to buy them first.
Reason is I see a lot Military Members and Veterans buy a single family home first and have a hard time explaining to the bank/lender Underwriter your stepping down into an inferior home. If you buy a few 2-4 units first you can easily upgrade or move into a bigger more expensive single family home.
The rule of thumb is more doors more cash flow and easier to cash flow once you more out. If you ever have any questions please feel free to reach out I enjoy helping Bigger Pockets members and Veterans!