" 8 Plex in my town."

2 Replies

Hello everyone, I am currently in the process of purchasing my first investment property (clap clap) its a four plex that runs me around 249,000, well thats the asking price. But along the way I ran across the 8 plex its a 1bd 1 ba. For a price roughly 240,000 as well. 

The questions that I have is which do you think would be the better deal. I can not use my VA loan for the 8 plex, because its commercial. So i am wondering of any ways I would be able to invest in both. Rather i say apply for two loans at the same time?

There's more information we need for sure! Many of us would love to help.

Do you know the beds / baths of the 4plex?
Are they in the same part of town?
If not which one is in a better area? (I'll assume 4plex here based on price)
Have you done research on market rents for the 4plex and the 8plex? You need to know what they'll rent for!
HOA's?
Taxes?
Have you gotten insurance quotes?
What are the ages of the properties?
Which properties are close to many big businesses / industries / universities / hospitals?

These are just a couple of questions you'll want to know to be on the right track!

Good luck!

There's more information we need for sure! Many of us would love to help.

Do you know the beds / baths of the 4plex?
Are they in the same part of town?
If not which one is in a better area? (I'll assume 4plex here based on price)
Have you done research on market rents for the 4plex and the 8plex? You need to know what they'll rent for!
HOA's?
Taxes?
Have you gotten insurance quotes?
What are the ages of the properties?
Which properties are close to many big businesses / industries / universities / hospitals?

As far as can you get two loans at the same time... That's definitely a question you'll have to ask a professional. Contact a quality lender in your area so he can run the info for you.

These are just a couple of questions you'll want to know to be on the right track!

Good luck!