All Forum Posts by: Allan Maerina

Nice write-up Eric!! Keeping the Las Vegas local area well informed like usual. 

Appreciate the quick response! Looks like I have a few options. Bare with me as I'm a newbie and have many questions. I was looking into buying my next home utilizing my VA entitlement but since you've mentioned it, I'm torn between selling to a close friend from California for fair market value, doing a VA cash out refinance or doing a rate/term refinance. With that said, a several questions come to mind.

-With the VA loan refinance, I was under the assumption that the home has to be my primary residence?

-With the VA loan refinance, how much out of pocket fees would I be looking at?

-What are the pros and cons of doing a VA loan refinance over a rate/term refinance and vice versa?

-Ultimately, which option would yield the highest return? aka what would you do and why?

Thank you in advance!

According to realtor and zillow, my primary residence is worth 70-80k more than what I got the loan for. I want to purchase a slightly larger home to live in but I wanted to know what options I have since I initially purchased the home using a VA loan. Is a conventional loan refinance with cash back a viable option for myself as I'd like to take the cash and either invest in a cash flow property or long term flip my next home using my VA loan.

@Billy Runyan Thank you! I appreciate the offer!

@Michael S. Helton Thank you! I appreciate the welcome.  I've already invested 12 years so another 8 doesn't sound so bad.

@Rochelle Ray Thank you for the warm welcome! Being a fighter jet electrician WAS exciting but 11 years later and it's a different story. I think real estate investing is just the change of pace I need!  I agree with reading and listening as that's all I've been doing since I've joined BP. Thank again!

I am in southern Calif and just no longer liking any of it. Two buddies from high school have retired to Henderson and Las Vegas and I would love to make the move over there and be involved in real estate. My first item of biz would be to get me a 3bed-2bath-2car place to live in one of the older established areas as I prefer living in something of that era. Anyone who has familiarity with the good/bad areas of LV reach out. I have found that many of the properties I have looked at have bars on the windows. A realtor tried to tell me ti was a style thing. LOL!

@Dean-Ross Schessler It's funny you said that, majority of people I speak to about moving are trying to make their way to Southern California!  My primary residence have similar specs to what you're looking for but I'm sure there are homes similar in Henderson/ Summerlin area which would be much more suited for your needs.  Though bars on the windows may be considered "trendy", I'm sure you'd feel right at home in the areas that I mentioned.  Good luck and let me know if you need any other information regarding the surrounding area as I've lived in Vegas for the past 7 years.

Thanks @Charlie Fitzgerald! My family currently lives in Pacifica so I'm in the Bay Area 3-4 times a year for family gatherings. Go Air Force! I appreciate the offer of information and will surely take you up on it as questions arise. At the moment, I'm just reading and absorbing as much information as I can.

Thanks @Dominic Densow! I'm on my 2nd podcast and I'm hooked.

Nice to meet everyone!

Allan Maerina here, originally from Daly City, CA currently residing in North Las Vegas, Nevada. I'm a fighter jet electrician out at Nellis AFB. I'm currently going on my 8th year in  the Air Force Reserve and I have another 8 years to go till I'm retired from that military life. As of November 2015, I'll also be a part time Lyft driver once I get my business license. My goals in real estate are to build a sizable portfolio and a monthly steady flow of income to retire on. Other than real estate, my hobbies include weightlifting, indoor rock climbing, hiking, reading, traveling and eating a wide variety of food.  Funny enough, I joined BiggerPockets from a member of a mobile game that I play in my down time at work. Glad to be here and looking forward to meeting and learning from you great people!