All Forum Posts by: Christopher Schott

I am looking for the how to, best practices, what to do, what not to do. Maybe I should start a new post to ask people what they wish they knew before buying a 4 plex.

@Dave Foster it is my primary and I will have lived in it for 2 years come October. I want to take the profits and buy a 4-unit complex to turn into STRs.

@Adri Jusczak it is my primary home and I will have lived in it for 2 years come October.

Quote from @Stephen Day:

Hello, I am a young professional moving to Ft Worth to work at Lockheed Martin. I am looking to buy a home to move into rather than rent. What should I know about the Ft Worth area before I pull the trigger on something? Where are the best areas to buy? Where should I 100% avoid? Anyone out there from Fort Worth who might be able to recommend a nice, local bank to hold the mortgage?

Message me if you want an opinion from someone who isn't a real estate agent (no offense to them). I have owned multiple properties in different parts of fort worth that have all appreciated 15% a year in value or more. I currently live 10 minutes from the Lockheed Martin building you'll be working in and have been around Fort Worth for 7+ years so I'm very familiar with the area. If you have any questions, message me and I'd be happy to help!

I own a Single Family Home in Fort Worth, TX and plan on selling it in October. I will get a decent amount of money out of it and I want to move forward with acquiring 2 properties as STRs once I complete the sale (single or multifamily). If you have experience with transitioning into this part of real estate investing, I would welcome any advice I can get about all parts of the process. Thank you in advance!

Quote from @Joshua Janus:

@Christopher Schott Congrats on the deal! Getting away with no closing costs is awesome as well. This is a great way to leverage your VA loan. Are you going to use the VA loan again?

I will definitely be using the VA loan again. I have used it twice already!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $197,000
Sale price: $274,000

Lived in the house for a year then bought a second home and put a tenant in my first home, which I managed myself.

How did you find this deal and how did you negotiate it?

I found it through market research. I negotiated no closing costs to me. I actually ended up getting cash in my pocket at closing.

How did you finance this deal?

I had the benefit of utilizing a $0 down VA home loan.

How did you add value to the deal?

It was purely through property appreciation.

Lessons learned? Challenges?

I wish I never sold the house. I should have kept it as an AirBNB!