All Forum Posts by: Tony Ho

I am in the process of purchasing my first property! 

I want to use this property for house hack with a room. But my concern is i have 2 small kids. Is it ok to house hack with 2 children in the house? 

I am using VA loan to finance this property. This is my first time and my first step in to real estate investment. So far i have faced quite a few challenges, mostly from my wife and her parents. They don't believe in real estate investing and think that i'm wasting my money.

So this is my plan. Once my 1 year is up, i will rent the whole house out and use my va loan again on another property and keep this going until i have used up all my va benefits ($417k). By then i should have 2-3 rental properties. But my concern is, when i start on my 2nd purchase(using my va loan) the bank might ask me how am i going to pay for 2 mortgages. Can i show them a lease agreement with a renter from my first property?

I know this is a slow process, but I really want to build passive income and spend more time with my family.

Anything in my plan that might raise questions? Anything I can do to improve my plan? 

that's amazing work! 

yeah that is totally depend on the state. Because in Hawaii, there are land lords who advertised as no section 8

I love what you did with the house! The rehab transformed the property nicely. May I all for details on your Buy method? So you put a down payment of 15k, and the rest was private lender money? 

I also like how you cut it down by steps. That made it easy to understand and follow

oh, I forgot to mention: would you invest in a newly built duplex that later on can be build into a triplex in the backyard?

I am in a dilemma. I want to invest on multi family properties, but in the town that I am in there are limited deals that meet my criteria

Quadplex

Good schools

Good neighbor

200-260k

So far i've found a quadplex, in bad neighbor and really low rating schools but for 257k, 3 units are rented out

There are also duplex's in decent neighbor, good schools but price is really high 170-250k. Both units are empty or they are only selling one side of the duplex

My goal is to house hack using va loan to fund my purchase. 

Which one should I go?

The developed area has good schools, high ratings. But 20-30 mins to downtown for work. 

Ok, i will find some modern appliances. Thank you!

I will be using my va loan to start house hacking. I'm looking at duplex and quadplex. 

What kind of location should I focus on? The area that is developing in El Paso, TX does not have any multi family homes for sale at the moment. But in an area not far from it has a lot of duplex and quadplex but they are older homes with old appliances, which bring me to my next question.

Should I update the appliances in these units to stainless steel?

 can i get one also? thank you

get a purchase of contract going with my realtor, turn it over to escrow and do an assignment of contract with the buyer?