All Forum Posts by: Chloe Ralston

New investors buying our first 4-plex rental! 
Where: Florida

What: 4 unit townhomes 

Each unit is 2 beds/2.5 baths

1200 sq ft. 
One car Garage 

Separate meters 

3 are occupied, 4th to be occupied by us because we are using the VA loan.
Mortgage $515,000

2.25 APR

$0 down 

Rent $1000 a month 

Closing costs $13,000

HOA Fees $100

Insurance $175 monthly 

Taxes $5600 yearly 

With this being our first purchase EVER, we would like to know is this is a good investment?

@Chloe Ralston I’m sorry I put this in the wrong spot could a moderator please delete it?

New Investors buying our first 4-plex rental!

Where: Florida

What: 4 unit townhomes

Each unit 2 bed/2.5 bath

1200 sq ft.

One car garage

Separate meters

Built in 2007

3 are occupied

4th to be occupied by us because of using VA Loan

Mortgage $515,000

2.25 APR

$0 down

30 year loan

Rent $1000 a month

Closing costs $13,000

HOA Fees $100

Insurance $175 a month

Taxes $5600 a year

With this being our first purchase EVER, we would like to know if this is a good investment?!

Thank you all for your, very helpful and great options!

@Kevin Hoodwin

Thank you for the insight. We are interested in using one or other (VA or father in law), not sure if we can get an VA Loan that large.

What kind of percentage would still benefit both parties?

We are looking to purchase a rental property deal through an LLC my husband and I have created. It's bigger than we originally planned for our first deal, but my father in-law offered to help and we are trying to find a way to make it work. It is a newer four plex and they are asking $550,000. We have $40,000 to put down and my father in-law is willing to put up to 100,000. We can purchase this property through the LLC or through the VA Loan that is available to us. How would I go about creating a deal that will benefit both parties if we decide to work with family?

**My father in law mentioned he would like to make his money back plus a percentage of the equity. My father in law would be a private investor, we would be the ones managing it. 

We are relocating to Florida this summer and I am looking to get my real estate license before the move. Could any one point me in the direction of a good place to take online courses to obtain the credentials necessary for the license?

My husband and I are relocating with the military early next summer, but have to decide on the right area very soon. We are between Houston, TX, Jacksonville, FL and Cape Canaveral, FL. We are trying to house hack our first investment with either a duplex, triplex or fourplex, so we are trying to make a good decision on where to choose. Any thoughts or recommendations on what to look for in these areas would be greatly appreciated! 

Thank you Brenden, I appreciate you taking the time to reply!

I am a new member to the BP forums and wanting to break into this world of investing. I am in limbo right now and waiting to hear back about our new duty station/wanting to learn how I can help us choose that station. In the mean time I am looking for steps I can take to get ready to pounce on a deal! I have started by watching the 4 Financial Independence Blueprint videos and I am super excited to get started, but it is still about a year away before I am able to make my first offer. Help please!!