New to Bigger Pockets and Real Estate Investing

[Reymon Hernandez]

Hello BiggerPockets Community, my name is Reymon Hernandez. I am new to the BP community and I am also new to the real estate investment world. 

I am currently a licensed Realtor in Sacramento CA. and after several years of helping local families buy and sell homes I have decided to take a more serious look at RE Investing. 

This year I worked with several 1031 exchange clients which forced me to learn more and dig deeper into the benefits of a 1031 exchanges. This got me really interested in learning about all of the benefits of owning rental properties and such. I have now decided that while there is great potential in helping families buy and sell real estate, there is greater potential in actually owning/investing in it. 

My Current Situation: 

My wife and I moved in with her parents recently to be able to save enough money to purchase our own home (SFR). However, I have successfully convinced my wife that buying an owner occupied multi unit property such as a duplex would be the best way to go for our financial future (It was not easy, but I did). 

We have a small amount of money saved up and have been getting our financing in order to buy a multi unit property, I am a veteran with VA Eligibility which allows me to buy up to a 4 unit property under $417K with no money down. However, I do not know if that would be the best way to go for this situation. As a realtor I could represent myself in the purchase and use the commission funds to put back into the property with an approved VA Loan. However, I have a few question I would love to get some help with.

Question: 

1. Would you recommend buying a multi family unit before buying a SFR (or vice versa) and why?

2. Would an owner occupied VA no money down loan be a good way to go or should I consider looking at some of the other financing options discussed in the podcasts and webinars, since we do have some money to put down?

3.  What major things should I consider aside from the cap and the cash on cash return when purchasing an owner occupied property?

4. What tips would you offer a newer person like myself starting off now or if you currently own properties in CA. What should I be aware of before becoming a landlord in CA.?  

5. Lastly what are REA meetings and where do I find one? I have been hearing speakers on podcasts talk about Local REA meetings and I hate to admit that while I am in Real Estate I do not know what a REA meeting is. Dont even know if I am spelling that correctly. 

Sorry for the long post, but if you have read through this entire thing I would love to get your thoughts or inputs on any of the things I brought up. It will be greatly appreciated. I am happy to be part of this wonderful community and look forward to getting everyone or anyones feedback. 

Thank You!

-Reymon