All Forum Posts by: Patrick Eschenfelder

because I'm not looking for that kind of risk. I'm not interested in being $400,000+ in debt up front as this could  destroy me financially with a market collapse. I know I can pay off the multi family in as little as 3 -5 years. So it would be a temporary situation which is perfect because I will be on school for about that long anyways. I just want some guidance on how to pick a property and some insight if anyone has done something similar to this in the past

So heres my situation, I'm in the military and have over a year remaining on my contract which I've figured out that in that in the time i have left in my wife and i can save $40,000 to put down on a property. This puts us in the $200,000 range to hit 20% down. My plan is to buy a multi family and live in one of the units while we rent the rest out so that we essentially dont have a mortgage payment because when i get out i will be going to school on the gi bill so our pay will decrease substantially. Once we pay off the unit we will move out and keep it as a rental property. Does anyone have any insight into multi family homes, like where to find deals, how to figure out the cash flow it will generate so on and so forth.