All Forum Posts by: Christian Paulson

Christian,

Sounds to me like you have $8k and $15K to use. Give me a call; I'm in Virginia Beach but I have a few questions for you that would be easier on a call. I personally don't think unlocking your equity would be good since refi rates are much higher these days. There are options to discuss that may help you get to your goal, though... give me a call!

Be careful of large HELOC's right now. A 5.5%+/- rate does not sound bad, until 3-6 months from now its 7.5% or higher as 99% of HELOC's are variable and tied to the Federal Funds rate.

@Christian Paulson - FHA and VA loans really shine in the multi family space! Conventional loans have a big rate adjustment and require more down. Not with VA though. The county loan limits are also increased for multi units, so most likely you can get a VA multi unit home with no issues and get the best interest rate available in America at the moment. The thing to watch out for, is if you pay the VA funding fee or not, because that can get expensive. It's financed, but on a big loan size that number can get hefty. Besides, that VA all day for a multi unit!!!

My company is licensed in AZ, CA, CO, TX, and FL.  Let me know if you have any questions.

Hey Christian - thanks for your service and congrats on your progress! It may be tough to see from your position, but you are in the catbird seat - so many options available to you! 

I love (and wish I had) the VA loan option. Are you working with a lender on that? They should be able to tell you what your options are for the 1-4 unit properties. If you can use that to buy a multi unit, or something you can house hack, I'd start there. Aside from that, there are DSCR lenders, a HELOC would be great just to have available for when you find that perfect deal.

The question I have for you is - what are your long term goals with Real Estate? Do you want to replace your day job with it? Is it just a hobby? What's the big vision? Working backwards from that will help identify your next best step with REI.

I'd be happy to connect and talk through things with you if you want - reach out anytime!

Best of luck on this adventure! 

Kris

Use the VA loan again if you can. You could find a single family, rent out rooms or update it to do a live in flip. I know Cali is expensive so it might not be possible. I would maybe look at a HELOC for your equity to pull $$ out. You could invest OOS or somewhere close to where your property is at in Virginia

@Christian Paulson I have been a Realtor in Southern California for 17+ years, however, I have helped many of my clients purchase investment properties up and down the state. I also own LTR and STR's in California. There are many, many opportunities to invest out here. What part of California would you like to invest in? Will you be living in the property, house-hacking or would you like to do an LTR or STR?

@Christian Paulson

Christian - I am a nationwide private lender located in VA Beach. Happy to assist you.

Bobby

I'm not sure what services they have in Virginia Beach, in Idaho we work with a company called Mountain West Bank. They will help take what is in your IRA and purchase realestate, its a great way to get into the market if you don't have a huge down payment and don't want to pay the current interest rates.