$1.2M property at 24 with $0 down

[Brian Koons]

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $1,259,313
Cash invested: $1

I'm house Hacking this 4-plex. With the VA loan, I Put literally 0% down at 2.75% and lender covered all closing costs. Renting out the 2 extra rooms I have in my unit, I will be making a couple hundred dollars a month PLUS my housing allowance ($2400) from the military.

What made you interested in investing in this type of deal?

Learning about what real estate could do. ( especially through bigger pockets books)

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

VA Loan

How did you add value to the deal?

Lender covered closing costs, seller covered termite clearance

Lessons learned? Challenges?

Learn enough and talk with enough who have already done it to reinforce your decision that real estate investing is a good idea

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Twana Rasoul

[Brian Koons]

Hey John and Brian! So I purchased a 4 unit property and I am living in one unit leaving 3 additional units. The lender took a conservative number of the projected rental income from the other units and applied 75% of that toward my gross income. It put me at about 58% debt to income ratio, but my lender was able to allow that. That how I was able to qualify since there is no limit on the VA loan anymore