All Forum Posts by: Gabe Fernos

It is tough with the prices now you would need to find one off market or do a rehab buy. My recent owner occupied buy we are living in the basement which has a seperate entrance and in law suite. We had laundry put in upstairs so that's seperate too. The upstairs rent is $200 less than our mortgage. And when we buy our next property we will rent this basement out and cash flow pretty nicely. 

Coming from a beginner with only two properties it's very appealing with the Amazon distribution center that has been built and what other business Amazon may attract here. As well as expansion at Fairchild AFB. 

Also I do Graphic Design for work and would love to help in any way possible with the landing page. 

Also from Spokane but just getting started myself (currently one sfh and our primary single family being house hacked). It's awesome to see you're getting back into it and really serious about it too. What part of town was the first house on? 

This looks like an awesome deal! Congrats. I just got into my second property and hope I can find a deal like this on my next one! Im trying to find a multi family here in Washington.

Hello @MaxmilianGlodde,

We do not have PMI since we have the va loan.

We thought about renting but we’re discouraged we wouldn’t be able to find renters willing to pay 1800-2000$ although we have seen other properties rent for those amounts in our area. We also have put around 30-50k into our home (New flooring, paint, stainless steal appliances, etc) and were worried that could/ would be damaged by renters. A friend in real estate suggested selling our home so we don’t have to worry about that happening and starting by moving into a single family home and purchasing a multi family to cash flow. My wife is concerned that we would lose most of the money in fees.

One lender suggested refinancing our home to a conventional loan and using the VA loan for a multi family home to get started.

We feel stuck with the high mortgage payment and only 10k in savings. 

Knowing this would you try to refinance and rent our property, or look into selling our home instead? 

Thank you so much for your time. 

My wife and I are looking to get into real estate. Right now we have a home with a va loan at 3.75%. Our VA mortgage is 1700$ a month and we owe 262k. Right now our home has an estimated worth of 345k.

Should we sell and buy a multi family using the VA loan as well as purchase a small single family with a conventional loan to get started? We would live in one of the properties while renting the others out in hopes to get our portfolio started. Right now we have about 10k in savings.

Our home wouldn’t cash flow very well according to rent data here in Spokane wa.

My wife is concerned it will be hard to find a multi family deal that will cash flow in Spokane, wa since the market is so competitive right now. 

Any comments/ tips/ advice would be greatly appreciated. Thank you.

 No we haven't been to any meetings where are they at and what time are they? We would have to do some scheduling too with our kids. Could you provide a link?

Yeah we have some saved to put towards it but not nearly enough for a down payment that's why we feel stuck at this point. I know it's our lack of knowledge of investing holding us back. But that's why I'm here!

Hey everyone! 

My wife and I are very interested in getting started into REI. We both work full time with two kids and dream of having rentals generating passive income for us.

We currently have a great house on the north side of town. We're not sure if we should do a HELOC, continue saving and wait or what.

Just want to introduce myself and get started on this journey.