All Forum Posts by: Mike Cavaggioni

Aloha everyone!  December's Meetup will be another Cashflow game with lessons learned and networking.  These meetups playing Cashflow have been a hit so we are doing it again.  Please register for the event so we know how many people are coming (I usually buy Pizza for everyone and want to get the right amount).  We are also limited to 45 people total in the space.  You can register for free below.

Register here: https://www.eventbrite.com/e/investorentrepreneur-networking...

Looking forward to seeing you all there.

Interesting thread here.  Scott just reached out to be on my podcast... Now I am wondering if I should say no, or say yes and ask him about his lawsuits... 

Quote from @Sean Hudgins:

Quote from @Rafael Mercedes:

Hi Sean, I've heard of this concept previously & wondered the same. Sorry to see no one here, including myself, has had any encounters with someone actually doing this. Lenders would most likely approve something like this for a military/veteran married couple or a syndicate with contracts in place. I'm assuming you'd want to use this benefit for a new construction to get exactly what you want built, since finding this type of property already built & ready for sale isn't ideal, not impossible, but not ideal. Also, the instruction said "MAY", so maybe the business unit isn't necessarily needed. But, let's say you did have to build the business unit. You'd have to then construct a mixed use property with 6 residential units above it (if it's two veterans). You can add more veterans to add more units but they may not want to tie up their entitlement into this venture unless it brings in some major profits, or else they can go acquire their own owner occupied 4 unit & make their own profits.

I'd love to brainstorm more about this idea with you if you're still pondering it yourself!

Take care!

R. Mercedes

Absolutely, I honestly want to find someone who has pulled it off just to get some of the nerdy details of how they did it. I have been pondering how to do it myself just to be able to pass the knowledge on to others. I would have to do quite a bit of restructuring of my current VA Loans as well as my Wife's but we both have the entitlement so maybe we could be the ones to pull it off.

I agree new construction is likely the smartest choice here. I have been looking around my area and finding land zoned for mixed use like that is proving slightly challenging lol. This is definitely something I will be keeping my eye on and maybe an opportunity will present itself.

Thanks!

 I want to know if someone has pulled that off as well.  That sounds awesome!

Quote from @Ling Rita:

Hi Mike,

Nice to meet you. Ok sounds good! Thank you so much for the connection.:-) 

Ling

I sent you their email address.  Hope you all can get connected and good luck on starting your journey.  Be sure to check out the Real Estate Rookie Podcast on Bigger Pockets as well.  It will be a great way to accelerate your start! :)

Quote from @Ling Rita:

Dear Investors,

I’m just staring out on my investment journey and I would like to hear your opinions on how to get qualified for a second mortgage as a primary residence.

I’m currently living in the property that I have purchased last year in the big island. I’m on the conventional loan. I have a steady income and good credit history. And I’m considering to purchase another property sometime next year in Honolulu as my primary residence and planning to rent out the current one that I’ve lived in. I’ve talked to my lender about this. She suggested that I will have to rent out the current one in order to get qualified for the second one as my primary residence. My question is: Is there another option for me? As I do not want to rent out my place yet and looking for rent another place while waiting for the loan to get approved. 

Any insight would be much appreciated, 

Ling

Hey Ling, I know a group of women here on Oahu that are investing on Big Island (I think two of them live there as well). I'll get you all connected. I'll send you some of their contact info and you can reach out.  A few of them are really experienced but some are brand new as well. I think they might be a good fit for your network. :)

Quote from @Jayson Ewert:

I once had a Major nearly threaten me by saying "you know your commander has to approve secondary employment/income, right?". At that point none of my bosses really new about it but it wasn't affecting my workplace performance in any way. 

 Oh wow!  When I was on active duty, I had to do a request to get my RE license and work as a real estate agent.  Although all I did was referrals because I was working 12+hour days already. lol

Quote from @Susan Lincoln:

Thank you, Mike.  Really enjoyed Wednesday's networking session.  I learned a lot, and was encouraged instead of discouraged.  I am impatiently waiting for some funds to come back so I can put some of the new found knowledge to practical use.  

 That's so exciting and I'm glad you got a lot out of that meetup. Can't wait for next months! :)

Aloha Susan! Glad to see you on here making moves! :)

The biggest thing I hear and even heard it today is this: "I want to get into real estate." I then refer them to Bigger Pockets Podcast and Average Joe Finances Podcast. :)

Get our of the Rat Race! Let’s play the Cashflow game.

We are having our monthly meetup on Wednesday September 13th at 6pm at Aligned Mortgage in Waipahu. 94-539 Puahi St, Waipahu, HI 96797

These networking events are usually scheduled for 2 hours (even though we stay later to network some more). This particular event is being scheduled for 3 hours. Doors open at 5:30 and the game starts at 6pm. We will have 3 game boards to have multiple games going at once. There will also be game hosts for each game. Bring a notepad and be prepared to learn some great lessons during gameplay!

We will have pizza available, please bring your own drinks.

We have limited availability so please make sure you register on EventBrite.