All Forum Posts by: Eric Rattler

@JJ Harris once again great insight. I don't know why but I am leaning more towards SFR at 100k and under for building a portfolio on my own. I will definitely look into building relationships with bankers as that has been suggested on every forum I have read. I think I will purchase a multi family first using the VA loan, and then branch out to commercial/portfolio lending to acquire additional SFRs. I love bigger pockets @Brandon Turner. This place is way more beneficial than any brick and mortar university!

@JJ Harris thanks for your input! it seems as though north of the i10 is the place to be. I am curious also because I haven't seen a lot of people acquire more than 20 units without partnering with someone or attempting to wholesale properties. There must be some significance to bringing in others on your investments? share risk? capital? I want to either go the SFR route and stay there, or start the house hacking with a multifamily and continue to purchase other multifamilies. Ultimately I would like to 1031 exchange for a nice-sized apartment complex somewhere to supplement my retirement income from the Navy by the time retirement hits in the next 15 years.

thank you Richard, Scott and Ian. so it seems what I predicted about flood insurance being true. I am aware that the reason to purchase real estate is to create enough passive income to leave your current job. I don't hate my job nor do I mind getting up at 5 am to go to it. I am looking for a way to build wealth and I have seen people do it coming from nothing. MS seems like a good deal but then again what do I know. Appreciation always seem like icing on the cake if you can get it, so I'm not banking on that too too much. I like the multifamily idea, but then again new construction is super cheap in Gulfport, so that's appealing. as I mentioned before I like the 50k and under market because I could pay them off quickly with tenant paydown. I tend to save a lot of money, so I would keep adequate reserves. MS is also 10 times cheaper than my old living grounds in SOCAL, so these numbers look like pennies to me lol! I think the key is that I need to get started and then maybe I will branch out to other areas, like Mobile once I own a few properties in Gulfport. I like the idea of house hacking, seems like the way to win!

Hello everyone, Not sure if this has been answered before, but as I begin to embark on my journey to creating passive income and long term wealth, I am constantly going back and forth about which method to pursue. I plan to utilize my VA loan to acquire my first property. I will be purchasing in the Gulfport MS area. As there are many properties that I could purchase for 100k, then later refinance out of my VA loan into a conventional loan in order to reuse my VA Loan to continue owner occupying a SFR then refinance out to keep repeating over and over again. is this a good strategy? seems like people prefer multifamily due to the amount of doors. I also couldn't help but notice the market for houses around the 30-50K range and how lucrative this could be in my hometown of mobile AL. With my current salary I should be able to buy 3-4 of these types of properties a year. I have however seen that banks don't like these small loan amounts, what's my alternative? Save more myself until I can make an offer or search for alternate financing? I have been studying Real Estate and the potential it allows for me to provide a source of income for my children as they grow older. I would definitely be grateful of any advice provided. Thank you for reading!