First time investor with no experience, but passionate to start.

[Nick Cooper]

Hi everyone, I’ve been looking into purchasing rental properties for quite a while now and I’m hoping I’m going in the right direction with things. I’m currently 27 just got married almost 2 months ago. Me and my father own a paving company. I’m looking to get started in the Dayton/Columbus Ohio area. Right now I have 30-35k for a down payment I’m about to have 2 years of w-2 working for my own Llc showing $40,000 a year and I have an 810 credit score.

I’m really wanting to purchase a 4-plex if i will be able to pull it off with my stats. Also have never had a house or mortgage.

If anyone has any suggestions or advice I highly appreciate it!

Thanks in advance!

Nicholas Cooper

[Austin Steed]

@Nick Cooper I agree with @Will Fraser. Going the FHA route will keep your cash invested in the property very low. This allows your CoC returns to go a very long way.

Similar to FHA loans I love using my VA loans. I've purchased a SFH in CA and a double in Columbus OH putting 0% down with no pmi.

I would also recommend talking with a a lender as your first step. Like you, I too am in that 1099 class. As most full time agents are.  This made it hard for me to get a PA as it's not as clean as a W2 employee. 

For sure look into a quad for your first investment. I wish I would have used my VA loans for larger MF properties!

Wish you the best and if you ever want a good local lender I have no problem sharing some contacts with you.