All Forum Posts by: Carlos Guerrero
Carlos Guerrero has started 1 posts and replied 8 times.
Post: House hacking through Airbnb
- Miami, FL
- Posts 9
- Votes 6
Originally posted by @Eric Barnett:
My wife and I do the same thing with our house that is just outside of Austin and close to wedding venues, the river and so forth. It has worked great and gives us a reason to take more weekend trips!
Now there's an idea!
Post: STARTING OFF WITH AIRBNB RENTAL? FIRST TIME INVESTOR
- Miami, FL
- Posts 9
- Votes 6
I thought of something similar. I'm thinking more like buying a duplex/triplex, my first property investment, and renting out 1-2 units to Airbb while I live in the other. One issue i see with doing it the way you're thinking is that in our market in Miami the gamble is much more risky, with the crazy high rents in those areas you mentioned so you have to make sure that area can be constantly rented out, otherwise you're gonna have to bite that monthly lease payment.
Post: House hacking through Airbnb
- Miami, FL
- Posts 9
- Votes 6
Look up Zeona McIntyre ... she recently interviewed on the BP podcast. It was excellent, regarding Airbnb. You'll get some good idea from her, she's great.
Post: CURRENTLY DEPLOYED. READY TO GET HOME AND HIT THE GROUND RUNNING!
- Miami, FL
- Posts 9
- Votes 6
Originally posted by @Account Closed:
Welcome @Carlos Guerrero! I know how it is to be in your position and live in Miami. Lets connect.
Definitely man! Let's be in touch when I get back stateside.
Post: CURRENTLY DEPLOYED. READY TO GET HOME AND HIT THE GROUND RUNNING!
- Miami, FL
- Posts 9
- Votes 6
Originally posted by @Malcolm Lawson:
Go with the VA, you cant beet zero down and it also lowers your interest rate a bit. It will have to be your primary residence at the time of purchase but you can eventually move out and have a nice rental. You can also buy up to a 4 unit as long as you live in one of the units at the time of purchase. What state are you planning on buying in?
I plan on purchasing in South Florida, preferably Miami. Once I get back to the states I have to start doing my homework.
Post: CURRENTLY DEPLOYED. READY TO GET HOME AND HIT THE GROUND RUNNING!
- Miami, FL
- Posts 9
- Votes 6
Originally posted by @Han Oo:
Carlos Guerrero Yes, as far as I understand, your 2nd unit has to be bigger or more bedrooms. The idea is you are moving up or upgrading. You cannot downgrade your type of residency. The good thing about duplex/triplex/fourplex is they look at your living space which is one side of the house that you are living, not the ones that you are renting out. However, please check with a few lenders such as Navy Federal, USAA, etc and VA first before you do anything.
Oooh, got it. Yes, that makes sense. You're supposed to be "Movin' on up!" I suppose. Thanks!
Post: CURRENTLY DEPLOYED. READY TO GET HOME AND HIT THE GROUND RUNNING!
- Miami, FL
- Posts 9
- Votes 6
Han, thanks for your reply. So you mean as long as I dont use the entire $417k from the VA Loan, I can still use the remainder for another property, right? That's what I think I gathered from one from one of the podcasts.
So, to make sure I understood you correctly, I can buy one property and then the second one has to be larger than the first?
Post: CURRENTLY DEPLOYED. READY TO GET HOME AND HIT THE GROUND RUNNING!
- Miami, FL
- Posts 9
- Votes 6
Greetings! I have been dreaming about owning Real Estate for a while now (mainly the RICH DAD books), I just did not know how to proceed to the next step. Someone at my current military station in the Middle East suggested I check out BP and ... WHOA! What a whirlwind it's been! I love it! It's been about 8 weeks now since I slipped into this rabbit hole and I have not stopped learning. I have listened to dozens of BP podcasts and books since that fateful day (you have to find the time).
I feel MUCH MORE confident now than I did several weeks ago. I feel like I can pull the trigger in a couple months on an investment property once I get back home to my civilian life (I am an Air Force Reservist). I live in Miami, FL and have always liked the idea of Multi-Family homes.
I have full access to VA Loans and I'd imagine to the FHA203k loan as well.
I have a question ... which type of loan would you take a stab at first? VA or FHA or any other type? I have some cash to put as a down payment but would rather use it in case of any emergency were to happen with the property.
Any input would be incredibly invaluable and appreciated.
Thanks!
Carlos Guerrero