Quadruplex from builder.

[Elliot Mendoza]

So I'm not a true real estate investor. Not yet at least.

I'm currently going to close on a brand new Quadruplex on the 27th (dec 12) using a VA loan for 100% financing at 3.5%.

I'll be living in one unit, and renting the other 3 for 850 and 2x900.

I also made an offer to the builder to purchase another quad being built across the street once it is fully rented for 5% money down, with a 4% interest only loan, amortized over 30yrs and balloons in 3yrs. This gives me the 2yrs to build rental history with it to refinance it through a bank, and still gives me almost an extra 1200 a month in cashflow with property management.

Am I making any major mistakes or are there any possible pitfalls I might be missing?

I'm going to be spending a lot of time reading on here to learn most anything about investing in real estate.