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Updated almost 5 years ago on . Most recent reply

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74
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Manasseh Arnold
  • Rental Property Investor
  • Latham, NY
12
Votes |
74
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1st Multifamily purchase with VA loan. Duplex, Tri, or Quad?

Manasseh Arnold
  • Rental Property Investor
  • Latham, NY
Posted
I am 25, currently deployed overseas and plan on using the VA home loan within the next 14 months to purchase a cash flowing investment property that I can house hack. I am looking for advice and recommendations on which type of property would best set me up for success, would a quad be to much to handle for my first property? I am leaning towards more units because I simply would like more cashflow, but does it matter? could a duplex or tri be the same? I know I am being vague and there is multiple variables involved here, i.e. the numbers, the area, my personal knowledge, ect... but what are some of your experiences? what would you all have done differently at 25 with a VA home loan, with 0% down and looking to house hack?

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958
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1,138
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Tchaka Owen
  • Real Estate Agent
  • Merritt Island, FL
1,138
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958
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Tchaka Owen
  • Real Estate Agent
  • Merritt Island, FL
Replied

@Manasseh Arnold - go with the best deal. It doesn't matter if it's a 2-, 3- or 4-unit. Yes, it is more likely that a 4-unit will have the most financial security however you're better off with a duplex in a solid area than with a 4-plex in a not-so-desirable neighborhood. You will come out ahead with good, solid tenants. 
Also, be sure to save some money. Yes, you have the advantage of 0% down, however you want reserves to be able to do repairs.....in fact, your best deals will be with homes that need a little love. Better to get a $10-20k reduction with you spending $5k to make it look better. Good luck!

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