All Forum Posts by: Eric Upchurch

Had I known! Ha! Well, I actually got my license just so I could buy/sell my own also. 

Looking forward to connecting, @David Greene. I just relocated from Danville to El Dorado Hills. Love to talk about real estate as a wealth accelerator! In fact, this year I wrote an article for BP on how my wife and I used 3 strategies (starting with the VA Loan) in the Bay Area to build capital to invest in OOS RE. Can't wait to hear what you have to say on the 8th.

Hey @Denis Angulo-Rodriguez, we are publishing a new book Military House Hacking this Thursday, Nov. 1. Check us out. (Not posting any links for sake of BP). Send me a DM for more info. Glad to help!

@Daniel Lehman I'll also add that if you've paid the funding fee prior to having a disability (or even filing for a rating) you can recoup the VA funding fee once you DO get a rating. That's a pretty cool benefit. Side note: I just closed on a primary in CA above $900k and I used the VA Loan mostly because the interest rate was a half point less! And you're right, that extra 3.5% funding fee would not be fun to pay - even if you did roll it into the loan.

@Jacob Ferguson If you are young and single, this is a MUST. As you read in my BP article, it can be more difficult when married with kids, but not impossible. Go to our website and get the free VA Loan Mastery Course. It will help a ton. And we have a free house hacking for the Military eBook. Feel free to connect with me directly. A buuunch of our members are house hacking a 2-4 plex with the VA Loan. I wish I could go back in time with this knowledge!!!!!!

That's a mediocre down payment on a 1100 sf, 1964 ranch style single family fixer upper in the SF Bay Area.

Hey Andrew! Thanks for your service, first off. I'd recommend starting with a BP article I just read that explains a few strategies you can deploy (ok, I'm biased because I wrote it). Let me know if you have specific questions from there. I LOVE THIS STUFF and helping Vets is our mission.

https://www.biggerpockets.com/renewsblog/how-to-us...

I just wrote an article for BP yesterday about the power of the VA Loan and some strategies I used. If you served, it's an advantage over the rest of the world. Sure, passing a Section 1 is a little more difficult - but that only protects you. And yes, it is limited in use. I live in the SF Bay Area and am allowed to use up to $679,500 with ZERO down (and even a 0% disability rating means no funding fee). IMO, if you are AD/Vet, you NEED to take advantage. Think about house-hacking. Who can buy a four-plex, put zero down, live for free and actually make money monthly? You can, if you served. Amazing.

I'm up in Danville. Dissolved my CA LLC last year because it costs about $1500-$2000 to operate in CA...and when you are getting started that'll eat up a lot of your gains. Instead (for the time being) I have a $2M umbrella insurance policy that's about $35/month. If you start an LLC out of state, CA will STILL collect its $800. Make no mistake about it. Doesn't matter if you own properties in CA or not. If you live here, you are "doing business" here. Also, I just learned from an entity-creation specialist that any good lawyer in CA can simply PAY for a Statement of Information to the CA Secretary of State to get the info on managing members of an LLC. There is very little "protection" in CA in that regard and almost no anonymity unfortunately. For us Californians, the best thing to to might be just to start small, with great insurance, and keep your OOS tenants happy (be thoughtful)...that usually will reduce the chances of a lawsuit from the get-go. Then once you have enough income/properties, start an LLC, roll the properties into land trusts (LLC as the beneficiary) and call it a day!

PM me to connect. I'm in Danville and invest OOS. Went through some of this. CA makes it challenging, of course.