4-Plex in Washington State

1 Reply


I am approaching my 1 year live-in time for the use of a VA loan and have been searching for the entire year for my next property and may have found it. However, I just started finished all of the work on the place I am living in and dumped a bunch of money into this the previous month and am no where near where I would like to be to jump into a new deal. The deal I have found seems very tangible and cashflows under a "worst-case" scenario. I am willing to share the analysis I have completed with someone for some advice. I am really looking for some more info on structuring a deal that is not on the MLS and I have yet to get Brandon's new book.

My biggest questions:

What categories of finance fall into "Creative Financing"?

How are the contracts drawn up?

What are the functions the title company can provide/is it dependent on capabilities?

If I were to present this to a group, or individual, how in-depth should my delivery be?  I feel like it should be as in-depth as possible, but I have yet to teach, present, or sale anyone on anything outside of the military.

Any feedback is greatly appreciated and I hope to contribute as much as possible to BP as others have done for me.


Hey @Tyler Kaye . Are you planning on selling the VA loan house? Will you be house hacking (living in one of the units) of the 4-plex? Options are much more open to you if you plan on living in one of the units is all. Is this in Oak Harbor? I have family in Coupeville.

Plenty falls under the title of creative finance.  Most common is seller financing.  Here in WA you can structure it as  a Note and Deed of Trust or Real Estate Contract.  Any title co will have a relationship with a local attorney that can draft the docs for you.  The Note and Deed of T is more buyer-friendly.  The RE Contract more seller-friendly.

My first offer to sellers (especially off-market) is a simple Letter of Intent that outlines a few scenarios I would be willing to purchase.  Broad stroke conversation starters.  I don't bog them down with detail.  It's a friendly letter.  

I won't be walking someone through an entire process or providing contracts.  The terms are the important thing.  Any title co can follow your instructions.  Good luck!