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Updated over 5 years ago on . Most recent reply

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Chand King
  • Arizona
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Newbie looking to invest into first triplex/fourplex

Chand King
  • Arizona
Posted

Hello, everybody

It's great to be apart of this team. As the title says, I'm a newbie in real estate and I'm looking to invest into my first Triplex/fourplex ( well first property to be exact). 

A little about me, I currently work overseas as a military contractor. I will be overseas until July/August. After this contract is up I have plans to attend Arizona State University in the fall of 2020. As of now my plans are to purchase a triplex/fourplex and house hack the property to make some cash flow and build capital for more properties. I will be funding this investment with a VA loan.

I'm eager to get into real estate but I don't want to rush into a bad deal. When I move to Arizona I would like to have the property purchased and ready for me to move into so I don't have to rent and use money that I can save for future investments. Would it be wise to just rent and take my time? 

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Jerry Padilla
  • Lender
  • Rochester, NY
1,419
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3,451
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Jerry Padilla
  • Lender
  • Rochester, NY
Replied

@Chand King

VA is a great product. One thing to keep in mind with VA is that you won't be able to count potential rental income on the other units, without experience. So, you will have to qualify for the entire payment on your income.

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