All Forum Posts by: Stian Jones

@Jennifer Donley, Thank you so much for your input. Really great advice and I will definitely educate myself on section 8. This small scare/hesitation is turning out to be a potentially great positive. I greatly appreciate your advice.

My mother, brother and I are starting our real estate investing journey. We are looking at quadplexes in New London county, Connecticut. My brother and I are are handy but do not know how to figure out the price of any renovation or potential problems that will come up in the near future. What are some options that can help us budget in any extra cost or reno? Would you recommend doing a walk through with a contractor? If so, how would you recommend finding them and/or if you know any local to my area I would love connecting with them. We do plan on house hacking and using a VA loan because my brother and I are Marine Corps Veterans. If you have any advise and local to me I would like to take you out for coffee, lunch or a zoom call to connect. if you're not local but would like to connect and talk through zoom I welcome that as well.

Thank you :)   

@Brent Kiger, Thank you so much for your advice. Being new to this it bothered me and especially because I found it fairly quick. I didn't want to jump on the first opportunity that I thought was a good deal, but I also didn't want to lose a good deal. 

Hello,

My mother, brother and I are looking to start investing in multifamily properties, quadplex to be more specific. I came across a quadplex in my area that looks to be a good deal. I have put it in the calculator and done all the math. I will be doing a VA loan and one of the units I will live in for the 1st year. There is already 3 tenants living there and have been for years. The problem (I think) is 2 of the tenants living there are section 8. Is that a problem and should I go for it? the one non section 8 is paying the least amount in rent. Without reno, increasing the rent or negotiating a lower deal (of course I will go in lower then asking price), for the 1st year its almost a break even after all expenses. The part that I like is after I move out the 4th rent is all profit. Any help or suggestions would be greatly appreciated.