All Forum Posts by: Austin Clark

@Brandon Sturgill

Thank you!

haha in a normal scenario I would agree with you, however I trust the guy and he even does stuff with BP. 

Yes I absolutely love it!

My plan going forward is to use this year to my advantage from all the income I am receiving and then once I exit the military in March 2022 I will rent this house out and use another VA loan on a small multifamily house in Ohio where I will start building my real estate up full time. Also to do the "stack" method, I will use another portion of my capital that same year to invest in a straight up investment property.

haha Thank you! Yes sir Achilles HAD to be in it, its not complete without him. 

Thank you! Yes Real Estate is not cheap here haha BUT I stepped into 10k instantly with it being appraised at $310k! It was a pretty cool feeling for sure. 

Thanks man! You were a huge help in the process so I 100% appreciate it, Military to Millionaires is an incredible resource you created. 

Yes! It is basically free money with the military paying for your house. I am kicking myself for not doing this sooner. When I was at Fort Bragg I lived on post, HUGE mistake. 

Investment Info:

Large multi-family (5+ units) commercial investment investment in Fayetteville.

Purchase price: $3,200,000
Cash invested: $25,000

Syndication deal as a LP.

What made you interested in investing in this type of deal?

Building connections and the passivity of cash invested.

How did you find this deal and how did you negotiate it?

I found this deal through a mutual friend on a Facebook Group. There were no negotiating.

How did you finance this deal?

Cash

Investment Info:

Single-family residence buy & hold investment in Pasadena.

Purchase price: $300,000
Cash invested: $7,865

I am using this as a house hack combined with taking advantage of my military housing allowance to pocket the majority.

What made you interested in investing in this type of deal?

The appreciation in the area, high rental market rent rates, and took advantage of the low cost living.

How did you find this deal and how did you negotiate it?

I found this deal through Redfin. I negotiated fixing a few problems but it was a very easy process on closing the deal with very little terms.

How did you finance this deal?

VA Loan

How did you add value to the deal?

Creating a 4th bedroom in a large second living room
Updating the kitchen

What was the outcome?

Right now it is cash flowing a ton due to my house hack and military housing allowance. Once I move out and rent it out, the projected cashflow is still going to be around 500/ month after expenses.

Lessons learned? Challenges?

Purchase a really good home warranty

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes - Tobin Seven in the DMV area. Licensed in DC, Maryland, & Virginia and also a military veteran.

If I used my VA loan on a property that is my primary residence but then I live in an RV right outside it and rent out the property, is that still legal? I can't find a for sure answer on this.