All Forum Posts by: Eric Waterford

@Justin Ericsson ABSOLUTELY!

Thanks for your response @Upen Patel.

@Gabriel Gibson I appreciate it, good to know a 4plex is working out for you.

@Neal Collins I'm well aware i don't NEED my license to get started but thanks for the advice, I'll look for a firm that best suits me.

Exactly @Gene Livingston ! Thanks!

Thanks for the feedback everyone. 

@Maceo Lewis I'm choosing to start with a 4plex because as @James Wise said, because it's still considered residential I can start with very minimal down, 3.5%. Plus with my commission I'd be making on my own deals i could get started with very little capital. I do plan on expanding with more experience and would like to own apartment complexes. 

@Alex Chin you're right, let me explain more of my goals. I want to use this as an investment property and build up a portfolio of several multi family homes. I plan to buy two 4 plexes a year. I want to start with 4 plexes because from a cash flow standpoint i think it makes the most sense, i could be wrong?

I'd probably hold from 3-10 years and use equity and cashflow from properties to invest into a comercial property. From my understanding sounds like I'd have to live in one unit for at least 6 months for the best tax incentives & cash down to purchase.

Hey there!

My name is Eric & I just joined BP! I am currently looking at investing into my first fourplex in the Tacoma Washington area. I also just passed the broker's exam so I can start purchasing them myself. I did have a few questions and would appreciate any feedback I could receive. 

Should I deal with a lender who specializes in this field? Should I hang my Broker's license at a firm where the property is listed to minimize commission splits? What is the most important thing to look for when purchasing a fourplex?

Thanks, hope to hear from you all soon!