11 doors in 2 years investing while in the Military

[Mike Johns]

My wife and I are 27/28 years old and live in Clarksville, TN. We bought our first quadplex with a VA loan a little over two years ago in Clarksville, TN. We bought it for $305,000. We lived in one unit and rented the other three out.

Shortly after that we tried our first loan assumption with success. It was originally purchased for $165,000 and we took over the loan amount for $153,000. I currently estimate its worth $185,000. The mortgage is $1,000 and we rent it out for $1,250.

Because the loan assumption went well we decided to do more. The next one was originally purchased for $180,000 and we took over the loan for $169,000. I currently estimate its worth $190,000. The mortgage is $1,050 and we rent it out for $1,495. 

Our most recent loan assumption was originally purchased for $135,000 and we took over the loan at $125,000. I currently estimate it is worth $145,000. The mortgage is $840 and we rent it for $1,250

This week we closed on our second quadplex with a FHA Loan. We bought it for $330,000 and another quadplex down the road is on the market for $345,000, which was under contract in one day! So in just 2 years we have managed to purchase 11 doors.

How do you thank we are doing? And advice or questions are welcome!

[David Pere]

@Mike Johns I think you're doing fine brother. Ultimately it isn't what any of us think, it is how you feel, and how much fun you're having building wealth through real estate. You're doing quite well, and the wealth will only compound as you keep it up!