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Updated about 9 years ago on . Most recent reply

User Stats

16
Posts
2
Votes
Jordan Springer
  • Hampton, VA
2
Votes |
16
Posts

Should I buy this four plex?

Jordan Springer
  • Hampton, VA
Posted

I am an Army Officer in my mid 20s. I am getting stationed at Cannon AFB in New Mexico and I found a four plex that has an asking price of $350,000 in the nice part of the city. Each unit rents for $950, and the owner pays utilities up to $100 each unit. I would finance this using my VA loan and occupy one unit, and possibly get a roommate. With the VA loan I would not have to put any money down and I plan to manage the property myself. Would this be a good property to invest in and are there any tips for a first time property manager?

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