Updated almost 13 years ago on . Most recent reply
New guy from NYC. Currently in El Paso, Texas (north mexico)
I've heard about investing in real estate a good bit. I'm actually in the process of purchasing a quadruplex with my VA loan. I figure it may not make me any real money while I'm living in it, but I need a place to stay and this will make enough money to cover my mortgage and a bit left over for utilities. Would be more if I wasn't going to use property management, but I don't want the tenants to know I own the property and being military(more particularly EOD), I'm gone rather often.
I also own a rental property in NC where I was stationed prior. Has a good bit of equity in it, little more than 100k in equity. I plan on selling it in august or so(when the current rental lease expires). I was turned on to the idea of quadruplex properties as rental properties recently.
Problem is, it's kind of a pain to get the 20% down for properties in the 350k range. And according to everything I've read on here, most banks will only allow up to 4 personal loans to your name?
Guess I'll be doing a lot of reading and learning over the time I'm here.
If there's anyone in el paso, I'd love to pick your brain on the in's and outs, maybe partner up for something.