I am a rookie investor and have not purchased a property yet.Thank you in advance.

I am under contract to purchase a Quadplex.

Purchase price: $490,000 This is a unique opportunity to participate as a investor in a single family residence valued at $3M and higher.

In Cleveland you could also purchase a property in an area that is improving or on the border of one.

When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan me and my husband are thinking bout:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

Keep in mind, it would be in your best interest to go for as high as 4 units on each purchase to maximize your door count. 

This growth typically drives significant appreciation, which is the key to making this strategy work.For example:Let’s say you purchase a property for $300,000 with 25% down in a market with an 8% annual appreciation rate.

Once I was deployed on a submarine in the North Atlantic and they helped my wife with a 1031 exchange on the sale of a home and purchase of 2 other properties.

I invest in Memphis, TN and I use the BRRRR strategy for most of my purchases.

For a purchase generally application would be to review an ID, asset statements, and LLC docs if neccesary.