All Forum Posts by: Jason Osburn

Just got pro in the hopes that this is the beginning of my financial freedom. Still need to get educated and find a team in North Central WV but overall I'm confident and excited! I really appreciate all the site content as well as the kind and generous nature of it's members. So glad I found this place!

That's correct, I would have to finance the build first and then the VA could cover the loan upon completion. The more advice I get the more it's clear that I'll have to put new construction on hold until material costs normalize and I'm more savvy about real estate.

I like the idea Malcolm. I hadn't really considered that approach. I'll definitely need an experienced realtor to help me out. I wonder if that David Greene fellow has trustworthy people in my area.... I'll have to talk to my VA rep to see if there is any additional paperwork needed prior to contacting a realtor. I wouldn't want to waste anyone's time.

Thank you gentlemen for your prompt and honest advice. I took some time to think about it before coming back to post a response.

1. I should have educated myself more before asking for advice. I allowed myself to think I could finance the foundation, framing and roof then finish the rest myself to offset the increased cost of construction materials. I need to start with goals that are more easily attainable.

2. The podcast had me thinking that there is an inventory shortage. I was all too eager to lean in that direction. 

3. My main priority at this point should be to work on income replacement. Getting a new home for me and renting my current home seems like a lateral move. The rent would likely only offset my new mortgage. I should do the practical thing and buy something existing to get some extra money coming in. Rinse and repeat. 

4. The only aspect of my original idea that still holds up is my target market. Mitsubishi Heavy Industries recently bought our Bombardier maintenance facility and has dumped millions onto retrofitting. The need for contractors will be reinforced and likely increased. It should be an easy win. 

In summation I'll get myself back to rookie class and learn how to work the system. Finding useful info here is still challenging however. I spend a lot of time reading about topics im not yet ready for. I'll keep after it. Spending the rest of my life making someone else's dream happen is over. I'll revisit and share any progress i make. 

Thank you again 

I would rather build new instead of purchasing something existing. Nearly all the advice is geared towards the latter. How do I use the real estate machinery to purchase land and build a structure? I have access to a VA loan once it becomes habitable. It's my intention to design a single family style structure that I can then rent excess bedrooms to the aviation contractors that I work with. They make great money, work a lot of overtime and usually have families and homes elsewhere so there won't be any furniture dragging. After a year I'll move out and try to replace my W-2 with rental income. I have a 3 bed 2 bath 1300sqft home built in 1906 that needs a roof and kitchen update but otherwise it is 100% paid off. Additionally, I have 32K in the bank I could use to help secure a loan, do repairs or invest until I get my ducks in a row. I'm grateful for your time and any advice you could give. Thank you.

I feel compelled to add that I have a 3 bed 2 bath 1300sqft home built in 1906 that needs a roof and kitchen update but otherwise it is 100% paid off. Additionally, I have 32K in the bank I could use to help secure a loan, do repairs or invest until I get my ducks in a row. I'm grateful for your time and thanks again.

I would rather build new instead of purchasing something existing. Nearly all the advice is geared towards the latter. How do I use the real estate machinery to purchase land and build a structure? I have access to a VA loan once it becomes habitable. It's my intention to design a single family style structure that I can then rent excess bedrooms to the aviation contractors that I work with. They make great money, work a lot of overtime and usually have families and homes elsewhere so there won't be any furniture dragging. After a year I'll move out and try to replace my W-2 with rental income. Any advice would be appreciated.