Fourplex Owner Occupant

[Marcus Whitmore]

I have been browsing for awhile and reading. About to jump on my first home as an owner/occupant. The property is currently fully rented. I'm eligible to use a TX VA loan which has a current rate of 3.5%, Zero Down Payment, Very Low Closing Costs and NO PMI. Required to live in the unit for at least 1 year. Individually Metered Units where tenants pay utilities.

TX VA Loan 200k @ 3.5% = 900/month

2012 Taxes $2,137 = 178/month

3 units Rented(650,650,750) = 2050/month

Insurance 1% of Value = 165/month

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Cash Flow = 807/month

I do have 25k to cover vacancy, unexpected repairs etc. This also does not take into any tax breaks such as homestead, or disability which I'm eligible for. Most friends and family don't understand the benefits of purchasing my first home as an investment property so I wanted to run the number by people that understand.

Thanks for your Time,

M.W.