All Forum Posts by: Christopher Heil

@Alina Trigub unfortunately I do not think that's an option since I'm married with 3 kids.

I am currently living In a SFH with the VA loan, unless I sold it ( wouldn't make much a profit if any, since no down payment ) unless I find a great deal, I may just have to keep saving to get maybe a commercial property.

@Brian H. currently I have not, other than watching a ton of podcast and taking notes and reading a couple blogs, starting to look at properties and running the numbers is all I have had time to do so far. I'm not due back stateside for another 8 months so I have time. 

What books would you recommend? 

I have tossed the idea of doing a flip or 2 for the capital increase so when I do jump in my entire savings will not be held up. most duplexes I have looked at show anywhere from a 5%-9% Cap rate.

Also to add some info, I'm not looking to get rich overnight. anything with 120+ a month income per door is just fine with me.

@Lane Kawaoka The problem with the VA loan is that I can only have 2 out at a time ( for the better one at least ) I currently have one out on my current home. another factor is I cannot use the VA loan on a income property unless I live in it for over a year. also pretty sure I cannot refinance a VA loan. At least through Navy Federal Credit Union ( my bank ).

Hello everyone, Just joined today so I apologize in advance for any dumb questions.

Where I am currently - So currently I'm 29 years of age married 3 kids. Active duty army ( SGT ) Deployed currently. I am looking for duplex and 4 plex in my town ( army post ) so there is a ton of rentals available and plenty of demand for the supply. I like the idea of passive income as I'm not sure how much longer my body will last in the army ( haha ) so I'm looking toward the future for my family's sake. I have watched loads of the BP podcasts. and feel I'm almost ready to jump in when I get back stateside. Currently I do not have a core team. just my brother who has also shown interest in real estate. I do currently own a home through one of the VA loans.

As of right now I have a little under 30k in the bank but am able to add each month.

Brother - currently less than 10k in the bank but just did a refinance to start saving more to help with our endeavors.

Any advice to help get us started or ideas? do we need an LLC since we will more likely be starting together on a single building?

Should we start with a flip to build up our savings?

Is there any way not to put all our savings down and having to wait a few years to refinance and be able to purchase more?

I have looked at what's available only though sites like Zillow, trulia, Redfin etc. and have found a couple that are producing the results I am looking for.  

once again I apologize for any "dumb" questions I'm still new! 

@Charlie MacPherson  Agreed that was probably a poor choice of words, Simply trying to show that I was not one of those people that never take the first step. 

I'm currently deployed so I am using all this time to research and get ideas / pick brains. so to be truthful, I'm not making any purchase until I get back stateside. I'm married with 3 kids so throwing money away is not what I am after.

Hello everyone,

New Member to BP here. I am 29 years of age, currently a SGT in the US Army. currently deployed but have gone mad with investment fever. I am very interested making passive income, mainly looking at duplexes and quads. I do live in a military town so there are quite a few rentals out here. however no shortage of occupancy. I haven't made a core group or anything yet, however my older brother is also interested in joining me on this endeavor. I joined to pick everyone brains and get ideas/recommendations. I have bought only 1 house currently my residence, with a VA loan so it was pretty easy.

I guess my first questions would be:

1. How did everyone get started?

2.  What is the best way to not tie up all my funds in the first building? 

3. Should I make a LLC with my brother?

I have been watching quite a few of the podcasts, and know I am ready to get started!

Hope to make some new friends and get some ideas! happy investing everyone!