All Forum Posts by: Devin Voelker

Hey Biggerpockets fam, first time homebuyer here I would like some opinions on if buying a house at almost your max buying power is to risky. 
My household brings in $6,900 a month  (83k a year) we are buying a house at 395k 6.625 interest rate. Piti is $3,150, the house has a adu in the back it’s a 2/1 780sqft fully renovated.
long term rent: 1k-1,200

Mid term: 1,800-2,200 (7 minutes from a major hospital)

We plan on renting it right away, in your opinion should we go long term or mid term? Is it to risky to buy a house at that price at my income with the intention of househacking it?

Hey everyone, I'm looking at a property in a low-income / industrial area this area is not crime-riddled or anything it's just kinda run down a lot of trailers and open land outside of Jacksonville the average home value in the area is around 180k. The property I'm looking at is turn key and would cashflow $600 with all  units rented but I'm going to live in the main house for a year and would only pay $300-$400 a month to live there that number includes vacancy, repairs, and capex. my question is would this be a good first investment? I'm just a little worried about the quality of tenants this property would attract and I don't see much growth happening in this area for a long time. 

The -750 cashflow is after repairs, vacancy, taxes, insurance, and capx

Hello everyone! I'm going to see a property soon and would love some input from you guys/gals. I'm looking at a property in a thriving area its a duplex for 430k 4 bed 2 bath the average rent for a 2/1 is 1500 in this area. The loan I would be using is VA home loan so 0% down I do not have the funds for 20% down, when I run the numbers it's at -750 cash flow with both units rented out. Would this property be something you guys would still consider with it being in a very hot market in Riverside Jacksonville? I can find some cash flow in C- class neighborhoods around me like $100 or $200 but I just don't see any growth in those areas anytime soon so I would like to go B class but -750 just seems a little much. thoughts? solutions?

Hey everyone, I’m in Jacksonville Fl I’m new to investing I don’t currently have any properties under my belt but I’ve been studying hard reading a bunch of the BP books. I’m looking to get into the market soon tho but I would like to understand my local market better and what’s working for people in this area. If anyone in this area knows of local meetups or would just like to meet up in the Jacksonville area to discuss real estate investing I would really appreciate any information! Thankyou!

I'm going to buy a multi-family property in around 6 months as my first investment and house hack it. I'm using the VA home loan so 0% down and no PMI which helps. I talked to my real estate agent and he told me in the current market it's mathematically impossible to cash flow even when I move out and rent all the units (Duplex or Triplex) he told me I will still be losing some money on the property. Can someone explain to me the benefits of still getting in the market even if the other units don't cashflow or even break even? I understand going from $1700 in rent currently to house hacking and maybe paying like $1200 while living in one unit will save me money but how could I grow like this? Also, I'm trying to get into a B-class area not trying to buy a fixer-upper in a shady part of town, and I have a wife and kid so having a roommate in the unit I will stay in is out of the question. Would love to hear what you guys think about the current market, and why it's still a good idea to jump in.

Hey everyone! I'm new to real estate investing and I'm going to buy my first multi-family property with the VA home loan in 7-10 months I was wondering if anyone could give me advice on how to get 75% of the rent income from said property to increase my buying power. I have the 6 months reserve that's required but I don't have any experience managing a rental property. Is there any way around having that experience? Should I call a bunch of lenders until someone says they can do it without the experience? Or am I just out of luck on this one? Any piece of information helps thankyou!

Hey everyone, I'm new to BP and property investing. I'm stuck with a 9-month lease right now but I'm using the time I have to study hard and save more money. I plan on using my VA home loan for my first house hack so I can get 0% down and no PMI. I was wondering if anyone here has experience with multi-family homes in the Jacksonville area or experience using VA home loans for house hacking and could give me some advice.