All Forum Posts by: Daniel Miller

I am considering purchasing a vacation rental as a dual purpose property in Hilton Head. I have owned rental property in the past but only locally (Columbus, Oh).  My attraction to vacation rental property is more of actually being able to "use" my investment while investing in it.  Two questions...Does anyone have any experience in the Hilton Head market that would offer some insight? And, are there options in lending if I am looking for down payment assistance through a lender.  I am not liquid enough currently to float a 25%-30% down payment.  Any advice would be appreciated.

Good day fellow investors. I am new to this site, and real estate investing, so please forgive me upfront for any questions that may seem remedial. I recently moved from the state of NC to Ohio. My family and I are currently renting month to month and are "home shopping". I do have a full time job and am looking to use real estate investing as a second income for my family that currently only lives off of one. My questions is this...Since I do not currently own, is it wise to purchase a property as an owner occupied property with the intentions of flipping it? My thoughts are that I can enter into the real estate investing business this way with a smaller down payment (thinking FHA and more specific, 203k). Once I flip the home (using the 70% rule), I am hoping to not only profit enough for another down payment on an owner occupied property that I plan on staying in, but also have enough to repeat the flipping process. With all that I have read, I feel that this method may give me the capital I need to start the business and keep it afloat. Contstructive criticism here is welcome!

Thanks for reaching out to me Lou.  I've definitely come to the right place for help/knowledge on this new venture I am trying to accomplish.  I appreciate you offering your assistance and look forward to interacting with knowledgable investors like you.  Thanks again!

I am new to the real estate investing world and would consider myself still in the "knowledge building" stage.  My professional career over the last 15 years has given me the knowledge of investing other people's money as well as helping people purchase and refinance homes, so I consider myself somewhat ahead of the curve when it comes to knowing what goes on behind the scenes with real estate investing.  I am currently a Financial Center Manager for a national bank, which has given me the opportunity to have over 7 years experience as a Mortgage Loan Officer and 8 years experience as a Licensed Investment Rep for the bank.  Somehow, after all of that professional experience, I still have a lot of questions and concerns regarding this area of business.  My goals are to build a second income for my family that will replace the lack of a dual income in my household.  I am in what would only be considered as a "hot" market with most homes going for more than asking price in the areas of interest.  The beginning stages of this career is what I am looking to learn about most (ie. first purchase, buy & hold vs. buy & flip, and just the beginning stage fright in general).  I am a "learn before you do" type of person and for my age, extremely conservative when it comes to my own money (mainly because of my two small children that I need to support).  I have already learned more things on this website in the last week than I even knew existed on the topic.  I am looking forward to participating in conversations in the near future.  I think this will help with the "butterflies in my stomach".