Milwaukee Multifamily Plan

[Keith Turner]

Hello everyone news to BP here and I've been reading through the post and want to thank you all for the awesome discussions I get to read through.

I'm in the Milwaukee market and I'm looking for my first deal! I'm using VA funding and my plan for the next 3-4 years is the following:

Year 1
Buy a 3-4 unit (250-300k) multifamily breakeven (preferably 100-200 profit) whole living in 1 unit. Save and like modestly below my income.

Year 2 
Continue house hacking from year 2 save for any hiccups. Using rental calculator with 10% capex)

Year 3 
Buy new multifamily (3-4) at 250k (if VA funding permits the amount usually capped off at 417k) move and make primary residence for 1 year per VA guidelines.


Year 4
Depending on where cash flow is buy single family or duplex. Then use work income and rental income to:

A. Seller finance with substantial upfront payments more units

B. Flip single multifamilies

C. Commercial properties (5 units)

Ultimate goal being to get 25-35% annual return on debt. So with the 2 multifamilies let's assume that I have 500k in debt and pay 2400 a month on that I'm making between 500-800 a month after all expenses.

A little background on me I'm married 1 kid probably plan on another at the 5 year mark. My career is military pilot with national guard and at the 3 year mark Ill be a commercial pilot. Conservative salary combined will be 150k before taxes till year 5-6 hope to move to majors and have household 250-300k.

Looking for tips, suggestions, comments, and or mentors.