All Forum Posts by: Frank Inman

Sooo what if you "plan to occupy", kick a tenant out of a 4plex, but never move in and just leave it vacant for a year? Would anybody really know? I assume the other 3 properties would do more than cover the cost of the mortgage. Then after a year, put a tenant back in.

Thanks, @Mike Wood!

Would refinancing under conventional on an investment property have a higher interest rate? @Mike Wood

I guess my question is, do I wait 25 more years to collect the full rent on it? Or do I just sell now and make 11,000 off of zero down in 5 years?

@Jonna Weber, yes it is near a military base and I think it will have consistent income.

Bought a brand new duplex with a VA loan back in 2011, put zero down and moved out of it after living in it for 6 months due to coming down on orders. I have been renting both sides out pretty consistently, think the longest I have ever gone without a tenant is like 3 weeks. Reason to sell would be to give myself more VA eligibility, so I can put zero down on my next residence and I'd make close to $10,000 after fees, if I get what I think is a reasonable price. I currently make about 3-400 a month on this property depending on if there are any small repairs. Would I be better off holding on to this property and putting 5% down on my next home purchase with a VA loan or selling and collecting $10,000 now and not putting 5% down. We'd have to put about $13,000 down if I don't sell my duplex.

Good morning, everybody. My fiancee and I are interested in getting into flipping and renting properties. A strategy my realtor threw my way was this, buy the first property all cash a 30K home or so for 20k. Put about 10k of work into it, rent it out and then take out a HELOC on it after getting it reappraised.

He tells me the first property could rent for 900 a month and he's seen people get a HELOC for 60K after the home is appraised six months later. 

Then use that 60K for a flip property. He told me it's always better when you invest with somebody else's money. 

@Joe Villeneuve Is 3 years bad to wait to break even? What if I hold for two years and sell? I'm kinda new to this lol. Well, not very experienced. I have a duplex down in TX that brings in 1600 a month, buy my mortgage is 1100, got it with a VA loan, 0 down.

Nope, out of state. I assume part of the catch is property tax and insurance. 

I've reached out to a few realtors and was given a list of turnkey properties. A few caught my eye with the description of for sale $30,000, rents for $800 long term tenants, good payment history, fully rehabbed in 2013... Ok, so what is the catch?