All Forum Posts by: Benjamin Hazlett

Appreciate all the responses. I'm seeing that VA loans can be a little complicated. Thanks again!

@Reid Chauvin, thank you for digging in, this is what I had also read and have been trying to tell lenders that it is an option. Luckily I have more than 12 months left so income shouldn't be a problem. I will be in the US on active duty for 4 additional months before retiring.. My situation is unique because I am in Korea with my family. I will be reaching out.

Hello folks!

My wife and I are looking for a VA lender that will allow us to occupy the property once we return from overseas assignment. We have a property in mind and are looking to make an offer however, all the lenders we have spoken too say we must occupy within 60 days of closing. I will be retiring from the Army next year and will be able to occupy in March 2023. Please dm if you know a lender that can assist.

Hi folks! I'm reaching out in hopes somebody can provide some insight on how I find an appraiser for a duplex when nothing in the area has can relate for comps. The property we are trying to purchase is located in a small town in Oklahoma, with no appraisal data near by or recent. All the appraiser so far have said its not worth there time to try and pull comps for something with no comparable data. I'm not ready to throw in the towel because the property has a great ROI if we can get it financed. I appreciate all responses, as it helps me gain knowledge as we move forward in this real-estate journey!

Ben

@Jay Breitlow Awesome! Really appreciate that kind of feedback! I will work on my list and pro forma. Thanks!

@Chuck Masters, do you recommend a website that expounds on STR friendly counties?

Hi Folks! I'm looking for advice/information on the very HOT Orlando STR Market. My wife and I would like to purchase a duplex-quadplex in the Kissimmee/Orlando area within the next 6 months. I will be using a VA loan for the purchase and we would like a new build if possible that could also work as a LTR. I will be retiring from the MIlitary next year and plan on occupying/managing the property with my wife, while I attend school and enjoying some much needed relaxation time with my family of five. I'm not super familiar with the laws for STR, other than the podcast that we have listened too here on BP. Any help in the areas of VA friendly lenders, to homes for sale, builders to work with, and cleaning companies would be greatly appreciated! Thank You for all the words of wisdom that have been provided in my earlier posts. God Bless!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $155,000
Cash invested: $38,000
Sale price: $155,000

The property fit our style and budget so we jumped on it. It already had some tasteful upgrades to include granite CT, marble flooring, and painted cabinets, we added a touch of Agreeable Gray paint and now its rented with a 2 year lease. The ROI ended up being 16%.

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

The ROI.

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

Realtor.com, with a real-estate agent

How did you finance this deal?

Conventional Loan 20% down.

How did you add value to the deal?

Painted the whole interior.

What was the outcome?

2 year lease with 16% ROI.

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

Lorie Canada with Remax

Hello BP community!

My wife and I are interested in purchasing a vacation home in Oklahoma near a tourist destination. Looking in areas like Eufaula and Broken Bow. Our goal is to turn it into an Airbnb.

I'm looking for other BP members who own vacation/short term rentals in Oklahoma to connect with. 

Ben

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $152,500
Cash invested: $15,000

We bought it during COVID and redid the interior. My wife is super talented at decorating and turned it into a country farmhouse interior. See before and after photos.

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

Simple floor plan with a lot of potential.

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

MLS, offered 15k below asking price.

How did you finance this deal?

VA loan with Veterans United.

How did you add value to the deal?

We redid the entire interior.

What was the outcome?

Great first time buy with knowledge gained on rehabbing and renting.

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

Veterans United was awesome.