All Forum Posts by: Jeffery Griggs

Devin Welcome to BP!! I don't know that I can give you complete guidance on what to do. However here are a couple of suggestions/thoughts.

1. The VA loan will require that you live in the house for at least 2 years after the start of the loan. If you do the ARM then refi to a VA loan after 3 years then you will have to live in the house for another 2 years. If you start with a different loan on the first house then you can use the VA to purchase your next primary in 3 years.

2. Check out USAA. They have great insurance and banking services for military personal.  I have been a member for years and love them. I have mortgages and insurance through them for my primary and rental.

Our tenant pays for all the utilities and are required to have renters insurance in our SF rental. We would only deduct repairs from the security deposit. We would not deduct for normal wear such as paint unless it was needed due to abuse.

Hi Celeste! Welcome to BP!!

I think the answer depends on what your goals are. Are you looking to invest in real estate? Is this first house to be your primary residence?

Please shed more light on what you want to accomplish. Maybe then we can help.

I agree with both @Silvia B. and @Rick C.. I would pass or shorten the lease to the amount they are prepaying. Another red flag is that they 'have to have this now'. Also they may have been self-employed as a personnel assistant and mechanic where they are now but that does not mean they will find that employment in your town.

Agencies report to the credit bureaus monthly. Depending on the timing of the payoffs and the reporting it could take up to about 30 days. I use Credit Karma to track my credit. It is a free service and does not impact your credit score. You are able to look at you credit report as often as you like. This would allow you to see when these debts are off your report.

I am familiar with the post you are talking about and even commented on it. You bring up an interesting point of view that I had not considered. 

I'm not sure what the answer is but do think this is going to be a fun post to follow....

Hi James,

Welcome to BP!! There are great resources here. https://www.biggerpockets.com/real-estate-investin...

Listen to the podcasts. This one might be really helpful for you. The interviewee is from NJ.

http://www.biggerpockets.com/renewsblog/2013/12/12...

There is a wealth of info available here and many that are willing to help.

Good luck!! Let us know how it goes.

Hi Monique. Let us know how that works out for you. Good Luck!!!

welcome to BP!! Listening to the podcasts while driving is a great way to start. I do the same thing. We have one rental as well. Trying to figure out our next move now.

Good luck. Let us know how things go or if we can help. 

Congrats. That is a really cool post. Thanks for sharing.