All Forum Posts by: Abimael Rivera-Lopez

Thanks you all for your inputs; glad to be part of this community!

@Jared Viernes

This is exactly what I had in mind. I didn't know I would have to reinstate my VA loan benifits if I sold my home. So thanks for the heads up!

I believe I forgot to mention that I will be moving from CA to MA this summer.

@Anthony Gayden

Thank you for your input and I agree that losing $650 a month is quite hefty. Nice to meet you!

@Isi Nau

Thanks for the reply! One of my options is to sell and utilize the profits to begin my investing journey. Nice to meet you!

@Omar Khan

Thanks for your input as well and for the tip on capital gains. I wouldn't like to begin my career investment in Hawaii; MA would be a great place to start (lower cost of living). I do think I should sell before the 5 year mark of owning the property. Nice to meet you!

Hello everyone,

I'm really excited about this new journey of becoming a real estate investor. I recently finished reading the book on "Investing in Real Estate with No (and low) Money Down" by Brandon Turner and it turned me into a believer; and its only one book of the seven I purchased! So lets jump right into the details.

My wife and I currently own a home (in Hawaii) that we purchased 4 years ago utilizing the VA Loan. We currently owe $590K on the loan and Zillow currently has it estimated at $744K leaving an equity of approximately $150K with a 79.2% LTV. I do have tenants (2 year contract) in the house and a property management company to oversee it, however, my cash flow for the home is "-$650" per month. I do need to get the house appraised since I've done some upgrades to it; like remodeling the kitchen, adding solar panels on the home, and other little cosmetic work. So it might be worth more.

So my question is should I sell and start off on a clean slate with no loans and have the VA loan option available to me? Should I keep the house since it has a good amount of equity? What would you do in this situation if you were to start your real estate investment career?

My wife and I rougly make about $125K (Before Taxes) a year from our occupation. On top of this, I also receive $3,200 monthly from VA (medically retired Army) and $3,400 for being a full time student using my education benifits (both not taxable). I would like to here everyones thoughts and strategies. The scariest part of all this is taking the first leap. I just want to ensure I have all the guidance and best options laid out in front of me so I can begin this journey as a new investor in the Real Estate industry. Thank you all for your time!

Best Regards,

Abimael Rivera-Lopez

Electrical Field Technician (NETA 2 certified)

U.S. Army Medically Retired