All Forum Posts by: Jennifer Long

@Paul Rush I am! I currently hVe two SFH and a fourplex that I live in. Currently, I'm at a standstill for a few reasons. I have pretty much tapped out my real estate account and I'm still too nervous to look for different financing options.

Congratulations! I’m also stationed here and just closed on my second property. I’m looking to continue buying properties while I’m still active duty and be ready to retire for real in a few years. 

@Amanda G., I haven’t been to one yet due to work and being out of town but I plan on getting involved soon. Hopefully, I will be there this Saturday!

@James Ma, thank you for the input. I will go back and run my numbers again and update it. I do have taxes and insurance accounted for but after looking at some other info I think I may have been low balling the vacancy and maintenance costs. 

@Daniel Thomas, from my understanding so far, I have to occupy the property for at least a year before I can refinance out of the VA loan. I got stationed here about a year and a half ago and have been renting so this fourplex will actually save me about $700 a month since the other three tenants' rent will pay the mortgage.

@Michael Ablan, yes, all of that is included. Currently I manage the property which will have to change at some point. That will take it down to $300 once that happens. I realized  property management is not for me and I dont have time as I’m working full time right now. 

Bryan, yes, my cash invested was $26k but I wasn't sure how to word it at first. I'm still very new to investing and a little unsure of what steps to take and when. I was more concerned with getting it renovated and rented that I hadn't considered refinancing it. I'm currently set to close on a fourplex at the end of this month using a VA loan and I'm not sure if refinancing it now would affect anything with the new property. Any input would be appreciated.

Good afternoon! My name is Jennifer and I'm a relatively new to Bigger Pockets. I joined in July of last year after encouragement from my boyfriend to get involved in real estate investing and I've recently decided to become more serious about it. Admittedly, I didn't do as much research or reading as I should have before I jumped in. I looked at about 50+ properties in the Augusta, GA area before purchasing my first rental property in October. I used a conventional loan on an $85k brick home and put about $5k into rehab costs. It currently cash flows $400 a month.

I continued looking at houses even though I didn't think I'd be ready to find my next property anytime soon as I had completed all the renovations on the first property myself while being full-time active duty military. I found an amazing fourplex that I am set to close on at the end of this month using my VA loan as a nothing down deal. The tentative plan is to live in it for a year and then refinance.

My real estate goals are to continue to invest in buy and hold properties and maybe even flips at some point. I'm currently helping my boyfriend look for deals in the area as well.

Since becoming a pro member, I've been listening and reading more and have learned a lot. I'm looking forward to networking and learning from y'all!

Good afternoon! My name is Jennifer and I'm a relatively new to Bigger Pockets. I joined in July of last year after encouragement from my boyfriend to get involved in real estate investing and I've recently decided to become more serious about it. Admittedly, I didn't do as much research or reading as I should have before I jumped in. I looked at about 50+ properties in the Augusta, GA area before purchasing my first rental property in October. I used a conventional loan on an $85k brick home and put about $5k into rehab costs. It currently cash flows $400 a month. 

I continued looking at houses even though I didn't think I'd be ready to find my next property anytime soon as I had completed all the renovations on the first property myself while being full-time active duty military. I found an amazing fourplex that I am set to close on at the end of this month using my VA loan as a nothing down deal. The tentative plan is to live in it for a year and then refinance.

My real estate goals are to continue to invest in buy and hold properties and maybe even flips at some point. I'm currently helping my boyfriend look for deals in the area as well. 

Since becoming a pro member, I've been listening and reading more and have learned a lot. I'm looking forward to networking and learning from y'all!

Investment Info:

Single-family residence buy & hold investment in Augusta.

Purchase price: $85,000
Cash invested: $5,000

4b/2ba 1860 sq ft brick home

How did you find this deal and how did you negotiate it?

Browsed Zillow and driving around the city looking for properties. Viewed about 50 properties before finding this one and it made the most sense numbers wise.

How did you finance this deal?

Conventional loan with 20% down which was a little over $21,000. Did all the repairs with cash and it ended up being about $5,000 total. Mortgage payment is $545 and it rents for $1000

How did you add value to the deal?

Previous owner had partially turned garage into bedroom but was unlivable at purchase time. I finished it which added 400 more square feet. I also made a few cosmetic updates to the rest of the house.

What was the outcome?

Property was rented a week after being listed and cash flows $400 a month

Lessons learned? Challenges?

I learned that I need to hire professionals. I went in thinking all it needed was a little paint and that I could handle it while working a 9-5. I was way in over my head and exhausted by the end of it. It took me four weeks longer than if I had hired somebody.