All Forum Posts by: Jared Aellis

Hi Jared, 

I currently have a rental in Browns Mills, NJ and I am an agent with KeyVest. There are a few really well maintained single family homes in Browns Mills that would make a great rental for military families. I am a military spouse and very familiar with the long wait times for on base housing at JBMDL. Happy to connect and see what we can do to help you with investing in this area. 

Hey @Jared Aellis, Ive lived at the Jersey Shore all of my life. My family has owned a beach front short term rental for decades here. I know the Jersey Shore like the back of my hand. I would love to help guide you through making the best decision that meets your goals. Lets chat! 

You definitely have a great opportunity to use the VA loan to buy your first investment property. Im bullish on rent growth here at the shore everytime Im waiting in traffic to get anywhere around here! Our beach front home rents for $6500-8500/week and we currently have multiple people that are all interested in renting! A very interesting experience and reflection of demand.

Hi @Jared Aellis. If you're planning on buying multiple properties using your VA loan in the future, it's best to make sure you start planning now since there are creative ways to use your VA benefit. If you are looking for a nice home for your family that will appreciate, then disregard this message. Best of luck!

@Jared Aellis - Hi Jared! There are many opportunities to house hack by buying a nice single family house in a developed neighborhood (usually newer construction) or to buy a multifamily (2-4 unit, usually older, usually a little less nice before you've moved in and made upgrades). When you go for a multifamily, the income from the other units can boost your total purchasing power. So if you're qualified for a $450k single family, you may qualify for a $900k quadplex. I don't know all the ins and outs of the VA loan, so please talk with your loan specialist.

I’ve had the most wealth building success by buying dated 5+ Bedroom and 2+ Bathroom single family properties and renting furnished bedrooms to working professionals. The best roommate is a total stranger who has a local, professional job paying $50-70k+ and will agree to your lease and chore sheet. Someone who is choosing your apartment instead of a single apartment, but who could easily get a single apartment if he or she wanted to. Someone who is choosing a financially savvy decision to free up cash to invest or to pay down car or student loans faster, or someone who has a family elsewhere and is trying to funnel money to them by minimizing living expenses where they are.

Also, if you don’t mind driving, we have monthly SJREIA meetings at Rider University near Princeton.

Hi @Jared Aellis, happy to hear you are looking to start your real estate journey and thank you for your service! I definitely agree with one of the other comments stating it would be helpful to get a long term plan in place. There is definitely beneficial ways to maximize your VA benefit in a way that most people unfortunately do not.

Hi @Jared Aellis. If you're planning on buying multiple properties using your VA loan in the future, it's best to make sure you start planning now since there are creative ways to use your VA benefit. If you are looking for a nice home for your family that will appreciate, then disregard this message. Best of luck!

@Jared Aellis welcome! What type of financing are you planning to use VA or VA renovation?