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Updated over 4 years ago on . Most recent reply

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Johnny Phan
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Need Househacking advice, thanks

Johnny Phan
Posted

Hi everyone, so im a single veteran and plan to use my VA loan on my first home, and ive decided that i want to househack a 4-plex but there is REALLY limited options, seems most of them are snatched up by investors already but anyways. I found an off market 4-plex here in riverside in jacksonville, florida. They want 475,000$ and currently all four units are rented for 900$ each but luckily one of the units are month to month and my plan is to live in one and rent out the other 3. I added up all my monthly expenses including mortgage and it equals 2,700$ which is exactly how much i will be getting from the other 3 units. Do you guys see any issues with this? I definitely will be living for free but theres no cash flow... should i take it because ill be living for free and whenever i move out in a year i could cash flow afterwards? Sorry to waste yalls time, i dont have anyone close to me that can give me solid advice so thats why im here. Its half a million dollars i would be spending on my first home and i dont want to make any mistakes. Thanks in advance.

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