All Forum Posts by: Farheen Naveed

Have two rental properties in Richmond one is in henrico county and second in Richmond d city. For our second property bought last year as market is very high we paid 60k more than asking price to win the bid. Now we are looking for our 3rd property but tough market these days. You are lucky if you find a good deal. Also for investment check out church hill area there is a lot of development going on. 

Dear @Joe Villeneuve thank you for your enlightening input. I surely understand and agree with you. Probably the challenge for me at this moment is 1. I’m new in United States like moved 3 years ago from another country and learning all about real estate market and neighborhoods here. You know it’s different if you are born and raised in some place and understand the marker.

2. Convincing my husband that there is good debt too 😂 that can benefit us as we are financially very responsible. It’s been like I’m always motivating him from our first to second and now to third time property. We paid off loan on our first property already. Yes slowly he is getting confidence. 
thanks a lot and I’ll request more guidance from you please. 
Thanks

Farheen  

Dear @Tommy Daggett

Thank you so much for your input. I certainly agree with you that I need to move and not necessarily get everything scary from Dave Ramsay’s advise but keep my mind open and see what works for me. I like Robert Kiyasaki and learning more from him. I don’t have any in person mentor plus I’m new to United States moves from other country and now in real estate learning and absorbing all the knowledge while taking reasonable steps. Thank you

Farheen 

Hello BiggerPockets,

I'm new to REI and getting all the knowledge that can help me. At the same time taking reasonable actions too. We rented our first residential property which is fully paid off and now moving to 2nd which is rehabbed and we plan to live there for a year to complete one year residential requirement then rent out and move to next which will be our home for good. With our second property we invested $60k in rehab and it's our first rehab project. We spent more than expected due to series of unfortunate events 😂 but I believe experience cost money and we still make 10k equity so not so bad. My question to you!!

There are two kind of investment philosophies I'm learning about one is Dave Ramsay who says to get rid of debt (that's like my husband) and other is Robert Kiyasaki who teaches you about good debt and make money from Debt.
now our first house is fully paid and we had 50% equity in our 2nd house too and my plan was to refinance or cash out refinance to buy another following BRRRR strategy. What do you suggest? Don't you think this strategy keep building debt which comes with its own risks? What should be our steps to move forward?
Thanks

Hi @Salvatore Lentini, 

I'm new to REI and getting all the knowledge that can help me. At the sane time taking actions too. We rented our first residential property which is fully paid off now moving to 2nd which is rehabbed and we plan to live there for a year to complete one year residential requirement then rent out and move to next which will be our home for good. Witt our second property we invested $60k in rehab and it's our first rehab project. We spent more than expected due to series of unfortunate events 😂 but I believe experience cost money and we still make 10k equity do not so bad. My question to you there are two kind of investment philosophies I'm learning about one is Dave Ramsay who is always ranting get rid of debt (that's like my husband) and other is Robert Kiyasaki who teaches you about good debt and make money from Debt.
now our first house is fully paid and we had 50% equity in our 2nd house too and my plan was to refinance or cash out refinance to buy another following BRRRR strategy. What do you suggest? Don't you think this strategy keep building debt which comes with its own risks? What should be our steps to move forward. Please guide me.
Thanks 

Farheen  

@Andrew B. you are right 

Hello Bigger Pocket,

My father is a veteran and he never used his VA Loan to buy a home. Can we use his VA loan as co signer to buy a property while we take care of all down payment and monthly mortgage payment. How is it doable to use it? Is there better option than VA loan?

@Account Closed thank you so much. I’ll surely watch your webinars. From where can o get the link?

@Filly Afenegus wow this is the same situation me and my husband are. We just rented our first now moving to second and plan to rent that too after completing one year residential requirement which is in next 6 months then moving to a bigger house which fits our 3 children. So the sane discussion me and my husband had today wether to sell our first home and buy new bigger one. It all depends on time and first thing first do you keep wanna moving from one house to another or plan to settle down at one place and grow your children in some good schooling zone? You can probably make a list of what you want in your forever home like size, number of rooms, age of home etc then create your search on it. It will take time as it’s sellers marker and everything is pricy. Good luck 

I and my husband bought our first rental property few months ago in church hill Richmond area. This is an old neighborhood and recently lot of development and construction going on. We will be renting it out then move to another investment property. We are too new in REI and happy to connect with you. If you are interested I can connect you with REA, mortgage brokers and contractor who helped us.
farheen