Investor · Spring, TX · Member since 2016 · 16 posts · 13 votes
BP Community,
I'm looking at purchasing a fourplex unit of townhomes (the townhomes are next to each other). I intend to use 1 townhome as my primary residence and rent the other 3 out.
Does anyone have experience with a purchase of this type? Will the VA allow the complete purchase to qualify or will the VA benefits apply only to the residence I plan on residing in?
Each townhome has its own Tax ID so I'm not sure if I can use my VA Benefits for this. Any lenders out there with advice?
Thanks,
Roy
Gainesville, FL · Member since 2017 · 6 posts · 0 votes
9y
Hello...I'm a beginner Real Estate Investor...I don't have all the answers but I did just the other day watch a video with Brandon that is finishing up this type of deal...actually he was recording the video at Starbucks...if i remember it correctly it was title...Investing in Multiple Family Homes...hope that can help u once you find the video...it is with Bigger Pockets...
@Roy Gamiz Since the town home have their own tax id's you can use your VA benefit for only one of them. Though if you can get the units rezoned as a multi with a single tax id, then you can use your VA benefit to buy it as a 4-plex.
I had a client that was able to do that. So it comes down to the seller and the county.