All Forum Posts by: Conor Shea

Thanks for all the help in understanding this process. Looks like it requires research on my end and a generous appraiser for the best possible value.

A new investor in San Diego and I recently bought a triplex and did some renovations. Looking to get it appraised for a refinance but am looking for tips for the appraisal. I have redone the kitchens and roof but haven't had time to address the landscaping. Currently, there is just patchy grass in the front with no fence. Would it be worth it to get the landscaping done before the appraisal so that it will appraise for a higher amount? Is there another addition that could be more worthwhile? Thanks in advance for the tips.

@David Pere thanks for the information. I was considering an FHA for the next property and I think that you're right in that approach. I would like to do the cash-out refi in order to pay off the investor and use the cash for future purchases but was worried about losing such a good interest rate. However, the cash out would help with future purchases so could be worth it depending on rates at the time. I will be headed to either DC or HI but don't know for sure yet.

@Jon Lallande I would love to talk about the best strategy in this situation and could give you more details on the situation.

Hi all, I am looking for advice on the best way to pay a family member back. I recently bought a triplex in San Diego for $890,000 with 0% down at a 30 year fixed 2.25% VA loan and it appraised for $965,000 at the time of the sale. I have used $65,000 of a family member's money to cover the rehab. Currently, I will make interest-only payments until the principal amount is paid off through a refinance within three years. However, with such a low interest rate would it make more sense to take out a HELOC to pay off the principal amount? Or are there other options that I should be looking into? I would like to refinance to use the VA loan again as I may be moving soon and would like to buy property wherever I go. Seeking advice on the best way to proceed with getting the principal back. Thanks!

Hi all, I'm a new investor looking to buy my first multifamily deal with a partner. We have an offer in on a triplex and will be using a VA Loan to purchase the property. The property needs to be rehabbed and I have the capital to do so. However, we are trying to figure out the best tax strategy to write off expenses for the rehab. We have thought about forming an LLC but are in California so it's pretty expensive. Would something like filing a Schedule E come tax time work or should we form the LLC to write off the expenses? Or am I missing something altogether? Any info is appreciated, thanks!

First-time real estate investor looking to buy a multifamily property with the VA Loan and then use private money from family members to cover renovations. I'm essentially using the BRRRR method with the VA Loan. Does anyone have any advice on the refinance part of this process? Especially in regards to paying back investors for the cost of the rehab. My initial thought was to do a cashout refinance but realize this can get complicated with the VA Loan because of a lack of equity in the property. Looking for any and all advice, thanks!

@David Pere Awesome thanks for setting this up!

Thanks for all the input! @Jon Lallande @David Pere I would love to connect through a local REI meetup group once this whole mess is over and really learn more about the San Diego market and investing while in the military as a whole.

Hi everyone,

I am a young, 23 years old, military officer looking to begin investing in real estate. I am stationed in San Diego where the house prices seem to be crazy expensive unless you want to live east, outside the city. I am looking at buying a 4 unit multifamily property where I can live in one of the units and rent the other ones out. Financially, I would be able to use the VA loan for this property and the military BAH is ~$2500/month for the area. I've been doing a lot of research on the area and about rental property investing as a whole. Does anyone have advice on starting out with this type of property? Or being in the military and doing RE investing at the same time?

Any advice is appreciated, thanks!