All Forum Posts by: Pete T.

I would not do for a 2 unit.  good advice I received was 8 units and up.  that way the payback comes faster to make up for the cost of the machine, repairs, space utilized, water, etc.

The seller is only going to accept what they feel is fair.  If you cant give him a good reason otherwise or provide a solution to some problem- move on.  Unless 110k works for you and you just wanted it cheaper.

also VA and USDA never went away either.

I would use that as a negotiation in the cost you will need to spend

Bob E., I actually agree w/ Bob Bowling on this one.  Being leveraged isn't the problem.  Its not having exit strategies.  Also, leveraging multiple places help offset vacancies, multiple repairs, etc.

If you are using PMs and you are already 1.5 hrs away, you might as well just consider the best out of area market to invest.  I feel it is a lot easier to find a deal for a 4 unit that 50k cash works than for a 16 unit.  Plus a 4 unit is an opportunity to learn small mistakes and determine if it is even something you want to invest more time, money, and energy into. 

I don't use a PM, so I always meet the tenants as things come up that can present red flags.  Make sure your list of items are legally enforceable in your state.  Knowing your tenant/landlord act is key.

because you live there, I would worry more about location, schools, etc and the numbers secondary.  You don't want your home to be a burden.  I think if you find a scenario as you mentioned or better, you should be good.

4 unit and maximize OO status is the way to go.

I don't know if it is the best deal, but getting your BAH, buying OO, and having a renter are all positive. The part to take into account is that you have to live somewhere, so this definitely an upgrade position to renting for 900