All Forum Posts by: Dylan H.

@James Fennessey

I think it may be a little hard to find the rental loan below 3.7%, but may be wrong.

Savannah is a great market and would highly recommend. Would be happy to talk about good areas and connect you with an investor friendly agent.

Best of luck!

@Brook Vosler

Somebody has probably already said this, but I think a big factor is the access to capital now. Even in the best of the best cash value whole life policies I’ve seen, that break even point where I’m positive compared to my contributions is 5 years away. Of course I could front load a whole lot, but then there’s the still the lack of access to the capital that makes sense until much further down the road.

Another great point already made is being “self-insured” through your assets. If you have $1M in equity and a good emergency fund, do I really need more life insurance? No, probably not.

But still think the biggest factor for most is access to their capital quickly and currently to see returns from day one.

The people that are looking at whole life as a possible investment tool are probably also looking at how to set up their portfolio for a smooth transition after they pass away. But then again, I could be completely wrong.

@Ryan Hampton Tons of investment opportunities in Savannah. If you have a facebook I recommend joining the Savannah Real Estate Investors facebook page. Probably not going to find multifamily deals there (facebook page), but you can start to make great connections for when you move. It's a great and competitive market.

@Josh Hitt

Not really regrets, just missed opportunities in a way. Bought at full market value, 100% leveraged (VA) = harder to cashflow, no forced or immediate equity through value-add/rehab. I still live extremely cheaply, basically entire PITI is covered by roommate, but by livenflipping I could have created some solid equity, gotten a better deal, etc. Also as a livenflipper/BRRRR you can afford to pay more than flippers, therefore more competitive offers. There are some hurdles there as well, like whether it'll qualify for VA off the bat, or if you need to purchase cash/hard money and then refi out of that. There's the 203k loan or the VA Rehab loan, although I've heard they're an absolute pain, that's where you create the extra value.

All depends on your goals and risk tolerance.

Hey @Josh Hitt, welcome to the forums and good to hear you're looking into your first purchase! A lot of flight students do the house-hacking method with a SFR, that's what I'm currently doing (Yeah, few quality multi's down here). That being said, in hindsight, I might have waiting, learned more, and then made my first purchase. Gotten more creative with my purchase, purchased a fixer-upper to livenflip and house hack. Flip to myself through a VA cash out refi (they don't do 100% after corona happened, but still doing 90% LTV on those).

Definitely look into and join the Professional Investors Guild (PIG) group here in Pensacola. It’s awesome, 1 meeting per month, and you’ll get to interact with investors of all levels, see more deals, etc. They’re currently doing a monthly webinar instead of in person meeting, but still worth it to join if you plan on purchasing here in Pensacola.

Best of luck!

@Josh Servo

If you’re working with a realtor to find your property anyways they will most likely have a good idea of accurate rental rates. Most of the brokerages they work for also have PM companies, so they can just ask a colleague. 

Best of luck!

@Kanwar Sodhi I heard of a credit union that would do 100% LTV cash out refi, but that was after you had owned the property for six months of seasoning.

@Brandon Schaffner

Yeah I wouldn’t go out that far. I keep my search to Chatham county which goes out to Georgetown, Pooler, and Port Wentworth. That being said, I’m really focusing East of 516. Don’t really car to go out as far as Georgetown and Pooler, and I don’t think there’s a necessity to with the opportunity closer and surrounding downtown.

@Brandon Schaffner Yeah I agree, having that tech industry would be great. Yeah Garden City is definitely a little sketchy, and I'd rather not purchase there. As far as areas I feel like I need to highlight and circle areas on a map, haha. I do think the Windsor Forest / Coffee Bluff area is good and going to turn around a little, especially since GA Southern bought the campus there, and GA Southern just keeps expanding. Obviously student rentals aren't the best right now, but they'll recover. Since you went to SCAD you know how the downtown area is, really nice and then you cross a street and you're in the hood. If you're willing to take the chance buying in those 'border' areas downtown I think your poised for success in the future. Everything is slowly gentrifying, it's just a slow game. 

@Brandon Schaffner

I’m pretty bias as well, but I think Savannah has a decently diverse economy and tons of opportunity. 3rd Largest Importing port in the Country, Colleges (SCAD, Georgia Southern just bought Armstrong’s campus there), tourism is huge obviously, the beaches and downtown life. Quite simply, people want to live there, and I think it’s demand and popularity is only going to continue to rise.