All Forum Posts by: Andrew Gaynor

**Update the house is now sold, but I know now to trust in the math, that was a great deal.**

@Brent Coombs thanks for your advice you give great points to think on. Each unit is 3/2 so absolutely on the price of rent, 2 bedrooms in the area are fetching 950, so I’m being conservative.

Very true that I should not assume I won’t have PM costs eventually, since I do want to move out after a year period and get all 4 units cash-flowing, I will adjust/account for that.

How much would you reasonably take from cash flow to put towards Capex ? 15-20?

@Greg Scott those are all very solid pieces of advice, thank you. I would be financing the deal with the VA loan, so 0 out of pocket. The biggest hurdle I'm thinking, is satisfying the VA's rigorous home inspection to be "move-in ready."

Additionally this would be a long term rental so I would manage the property for at least a year so I can get the experience. There is definitely more I could potentially put into/ get out of this property through sweat equity, but I wanted to be fairly conservative with my numbers, considering once I move out that would be an additional unit cash flowing as well.

How much would you likely say would be a fair assessment on repairs 5-7k?

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*This link comes directly from our calculators, based on information input by the member who posted.

How does this analysis fare, I feel as though I used fairly conservative numbers.

Welcome to BP @Landen Enns I also live in San Jose, the housing prices are ridiculous. I would definitely recommend reading @David Greene’s book, Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties. He also started in California and answers a lot of the questions you’re asking. Feel free to connect I’m also new and figuring out two different strategies on how to get started, best of luck!

@Heidi Lutz Welcome to Bigger Pockets ! I am also new to BP it’s reassuring to know I’m not in this alone!

Everything @Mike Burkett said is great advice, find your niche, do you want passive income from long term buy and hold properties or put in work on a BRRRR and make a big payday or maybe Wholesale to other investors/home buyers? The possibilities are endless and all depend on what you want. I would begin there and when you do find what you're looking for look up the different financing options available and which you would be best in your situation.

Best of luck on your exciting new journey in REI!

Hello Everyone,

I'm just looking for need to know advice to getting started in real estate investing, specifically for buy and hold rentals.My plan is to use a VA home loan to house hack and get a multi unit property and stay there a year, refinance the loan and either, use the equity from the first property to invest in a second property or utilize FHA which would take me much longer to do as I have little to no capital starting out. Thoughts?

Hello Everyone,

I'm just looking for need to know advice to getting started in real estate investing, specifically for buy and hold rentals.My plan is to use a VA home loan to house hack and get a multi unit property and stay there a year, refinance the loan and either, use the equity from the first property to invest in a second property or utilize FHA which would take me much longer to do as I have little to no capital starting out. Thoughts?

Hello Everyone at Bigger Pockets,

My name is Andrew Gaynor, and I am new to the real estate investing world, for a while I have been interested in real estate investing but never made any attempts to actually make a meaningful change, I'm excited to say I made the commitment to myself to get started, I have recently made it my mission to own a property by next year! So I've decided to soak up as much information as possible and burn the midnight oil until I can get my foot in the door in Real Estate investing.

A little introduction, I work in the medical field as a radiologic technologist and have served in the United States Army so I know that the VA home loan is a surefire way to get into investing with little to no money down, with that being said I am also in California which makes it more difficult than most other states in regards to finding good deals or fairly priced homes. I also have 2 under 2 which is very hectic but is one of the reasons I yearn for financial freedom to spend more time with my kids and family. Anybody who wants to connect or has any advice I am all ears and listening, I cannot wait to see where this journey takes me and although I know it will be challenging I know I can count on Bigger Pockets to point me in the right direction and lead me to success!

I thank you all for taking the time to read this and any feedback would be much appreciated, I hope to hear from the Bigger Pockets community soon!

Respectfully,

Andrew Gaynor, RT(R)

Luis the VA home loan will cover up to a four unit property, so you can definitely use that to house hack!