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Updated over 6 years ago on . Most recent reply

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Trevor Preston
  • Rental Property Investor
  • Norfolk, VA
0
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6
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First time buying and leaning towards a multi-family

Trevor Preston
  • Rental Property Investor
  • Norfolk, VA
Posted

I'm looking at buying my first property ever and think a multiple family home/building is a good start. My plan is to use my VA loan for the financial. What are something think I should do to protect myself/ any advise on the whole deal is appreciated! Thanks in advance!

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311
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226
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Cory Carlson
  • Real Estate Broker
  • Oregon
226
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311
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Cory Carlson
  • Real Estate Broker
  • Oregon
Replied

Karen hit the nail on the head. Learn how to be a good home owner and landlord. If you dig a little deeper into the forum you will find 100's of threads related to the strategy mentioned. Its called a "house hack" on the BP forums. 

I am currently helping a client perform this strategy with a triplex. From an analysis point, determine your break even points and go from there. Step 1 is talk to a lender to determine you limitations (like loan amount, credit, etc) and step 2 is to talk to a broker familiar with this strategy. 

Good luck  

  • Cory Carlson
  • (503)222-0282
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Constant Commercial Real Estate Inc
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