All Forum Posts by: Bryan Larsen

Hi all, have been educating myself for the last several months and thought I may have stumbled upon and interesting question, so here goes: when using my VA loan, I know I can eventually refinance to a conventional loan and use the no-money-down Va loan again, but would it be more lucrative to buy into a more expensive 4 unit that needs less maintenance and will cash flow more each month (and max out my eligibility)? I understand the potential of multiple multi-unit properties that I pay little or none of my personal money into, but if I can cash flow on B+ 4-unit investment in a B area, do you think it will be safer than dealing with 2-3 cheaper multi-families that will present more tenant issues, less cash flow, and more maintenance costs? Also I've heard I can get better interest rates without the VA loan. Thank you for your wisdom and time.

@James Wise

Which I understand is a gamble. will probably just wait on a 3-4 unit and house hack with the Va loan when the right deal comes up. This was attractive since it's turn-key, comes completely furnished and I have a roomate moving with me along with the possibility of airbnb etc. I appreciate everyone's input.

@James Wise

Planning on using my Va loan at 2 years for a refinance. Credit score is on its way up and 2 years should be more than enough time to get approved.

@Rex Celle

About 2k a year. No leins.

@James Wise

We plan to refinance at 2 years. Seller is no longer local and wants cashed out.

Selling price: $85,000 (includes furniture, appliances, beds and bedding, dishes, yard equipment, etc)

10% down payment: $8,500 

House is turnkey and sale price is average for area.

Balance: $76,500

6.5% interest, includes PMI

Balloon payment at the end of 2 years:

$74,000

If 10 year fixed: $869 a month

If 15 year fixed: $660 a month

If 20 year fixed: $570 a month

If 25 year fixed: $517 a month

If 30 year fixed: $484 a month

$600 average for homeowner's insurance, property taxes, gas, electric, water, sewer, garbage pickup, basic cable TV, digital phone, and Internet.

1 bedroom rented for $450 a month.

Airbnb second bedroom at 10 days a month nets roughly $500.

Basement may be finished and used as additional airbnb. (Possible 500-750/month)

The house has been on the market for some time, not sure if I'm missing something, looking through rose colored glasses, or if it's legit. Thanks for the help.

Hello BP community,

I am just starting out in my real estate journey. Learning as much as possible in the first 8-12 months before I buy my first multi-family home to rent and live in. Hoping to connect with someone in my area that could use a hand while teaching me the ropes.