Could use advice on my first purchase...it will be a multi-family

[Joey Hernandez]

Hi, thanks for reading my first post!  I hope I can be a useful contributor on Bigger Pockets.

I’m a veteran with $30k cash saved for investments with an 817 FICO score and just got pre-approved for a 3.875% / 4.0% APR zero down 30 yr VA loan up to $500k.  I'm comfortably living rent free with a good IT job salary in Bremerton WA, just outside of Seattle.

Debating if my first deal should be a MF house hack to make use of that owner occupied VA loan.

or

Get a conventional loan or private lender to maximize cash flow…with more freedom to look out of area for better deals.

Thanks, 

Joe

[Rachel Luoto]

Hi @Joey Hernandez! I'm also in Bremerton. If you can find a MF here that works for cash flow, I'd say go for it, but cap rate is very low, so it could take time. That said, the market is starting to shift, so good deals might begin to crop up more frequently. Jan 9 is the REAPS investor meeting at the Cloverleaf, you could run your situation by people there, @Mike Sumsky leads the meeting :)