All Forum Posts by: James O. Coker II

Thanks for the note.

Hi All,

Looking for a VA certified contractor in Miami to do renovations under a VA renovation loan. Would love to chat on the phone. Thanks!

Jim

Pat,

From one newbie to another - welcome, and good luck on your investing journey.

Best,

Jim 

Jordan,

This is exactly what I was looking for.  Thanks for the taking the time.

Cheers,

Jim

Hi All,

I am a newbie to BiggerPockets and am interested in using my VA loan (and/or VA renovation loan) to do a house hack in Miami in late 2022. I am writing to ask for advice from those in the forum who have done this. To be more specific, I am retired military, currently work for the State Department, and think I will get orders to Miami for mid 2023. I want to use the loan to hopefully renovate a two to four unit property that I can Air BnB, as well as live in to reduce my personal mortgage payment.

These are the types of things I am asking for advice about:

1. For those of you who have used a VA renovation loan (or regular VA loan) for a house hack investment property - how hard was that process?

2. How did you determine your rent income/occupancy rate? Is there a rule of thumb like the 2% rule in rentals for Air BnB that can help you determine what your cash flow should look like in a given area through Air BnB? Did you estimate low?

3. How suggested is it to get a realtor's license for the first investment purchase?

4. For those using Air BnB - did you use a management company? If so, are there specific things you screen for when deciding on whom to go with.

5. Are there any trainings, books, podcasts, et al you would recommend to prepare for this type of purchase?

6. Please share any specific stories you have about using the VA loan to house hack, and anything you thought you did well or could have done better.

7. Lastly, for those in Miami, are there areas you would recommend to buy in, and conversely areas to avoid, for this type of investment.

Best,

Jim

Hi All,

I am a newbie to BiggerPockets and am interested in using my VA loan (and/or VA renovation loan) to do a house hack in Miami in late 2022. I am writing to ask for advice from those in the forum who have done this. To be more specific, I am retired military, currently work for the State Department, and think I will get orders to Miami for mid 2023. I want to use the loan to hopefully renovate a two to four unit property that I can Air BnB, as well as live in to reduce my personal mortgage payment.

These are the types of things I am asking for advice about:

1. For those of you who have used a VA renovation loan (or regular VA loan) for a house hack investment property - how hard was that process?

2. How did you determine your rent income/occupancy rate? Is there a rule of thumb like the 2% rule in rentals for Air BnB that can help you determine what your cash flow should look like in a given area through Air BnB? Did you estimate low?

3. How suggested is it to get a realtor's license for the first investment purchase?

4. For those using Air BnB - did you use a management company? If so, are there specific things you screen for when deciding on whom to go with.

5. Are there any trainings, books, podcasts, et al you would recommend to prepare for this type of purchase?

6. Please share any specific stories you have about using the VA loan to house hack, and anything you thought you did well or could have done better.

7. Lastly, for those in Miami, are there areas you would recommend to buy in, and conversely areas to avoid, for this type of investment.

Best,

Jim

Hi All,

I am a newbie to BiggerPockets and am interested in using my VA loan (and/or VA renovation loan) to do a house hack in Miami in late 2022. I am writing to ask for advice from those in the forum who have done this. To be more specific, I am retired military, currently work for the State Department, and think I will get orders to Miami for mid 2023. I want to use the loan to hopefully renovate a two to four unit property that I can Air BnB, as well as live in to reduce my personal mortgage payment.

These are the types of things I am asking for advice about:  

1. For those of you who have used a VA renovation loan (or regular VA loan) for a house hack investment property - how hard was that process?

2.  How did you determine your rent income/occupancy rate?  Is there a rule of thumb like the 2% rule in rentals for Air BnB that can help you determine what your cash flow should look like in a given area through Air BnB?  Did you estimate low?

3.  How suggested is it to get a realtor's license for the first investment purchase?  

 4.  For those using Air BnB - did you use a management company?  If so, are there specific things you screen for when deciding on whom to go with.

5.  Are there any trainings, books, podcasts, et al you would recommend to prepare for this type of purchase?

6. Please share any specific stories you have about using the VA loan to house hack, and anything you thought you did well or could have done better.

7.  Lastly, for those in Miami, are there areas you would recommend to buy in, and conversely areas to avoid, for this type of investment.

Best,

Jim

Thank you all for the warm welcomes.  I hope to connect with you in the near future.  

Best,

Jim

Hi All,

I am a new member to Bigger Pockets and am interested in investing in real estate to achieve financial freedom. I do not have a ton of experience in real estate, but my wife's family owns a real estate business in Colombia. I work for the government, and currently live in DC, but am interested in focusing on the Miami area due to family considerations, and personal preference. I will be asking a lot of questions about rental properties, commercial real estate, house hacking, and uses of VA (and other) financing. I came to BP through my wife, actually, who found the forum online and was impressed by the professionalism and comradery it provides.

I am anxious to learn, happy to be here, and hope I can connect with the folks who have taken this path before.  They say the hardest part of any journey is the first step, and I am getting my walking stick ready.

Cheers,

Jim Coker

Hi All,

I am new to the forum and have a question about investing in Miami. Has anyone ever used the VA loan to buy a multi unit property there - a "house-hack" if you will? Further, would anyone consider using a VA renovation loan to purchase that kind of property?

Best,

Jim