All Forum Posts by: Jeremy Hunter

Hey Adam,

What kind of loan/mortgage are you using to get the fourplex?

FHA/VA loans require at least 1 year before you can move out to fully rent it out.

That is really the standard answer though from most everything I have read. Especially if you don't have much to out down on any other conventional loan. 

Of course there are tricks to making it happen but it really depends on your goals and how fast or conservative you are. "House hacking" is a favorite of alot of people who have started in investment properties. 

Are you looking for anything that might need any level of rehab or something more turnkey? 

@Joe Sillaman  Thanks for the info. Was your rental turnkey ready for VRBO or did you have to put any work into it?

IF I recall correctly the max amount for a VA loan here in Hawaii is around 600 ish... I think it is close to 650k. That idea has been suggested to me by another friend. I even work with a guy who had his house built down near Kapolei and the land appreciated duringthe build so now his house is worth 700k.

I thought about the opportunities with AirBnB and such and am still kinda weighing it. But the hiccup is my wife's feelings about a home and such here in hawaii, she wants it a one and done thing. So that idea is still in the air.

Wholesaling is what many people suggest to start out, but I think that you can do buy and hold it just takes some creative thinking and possibly partnering up with someone do help you finance any deals that come along. I am looking to put in a bid on a duplex that I found and also looking for foreclosures to wholesale and flip. I am going to be connecting with another guy who is a big in the foreclosures locally hopefully a partnership will happen and more deals can happen. 

Finding ways to help other investors and building up relationships is part of the game.  

If there is anything I can help you out with let me know!!!  

Hey Ry'n,

I like the motivation! What is your degree in? Relationships are important in any career field and Real Estate is no exception. I went to an open house that a local flipper/ mentor had for folks and was able to start building more relationships with a couple folks there. You never know where the deals are going to come from. What kind of deals are you going to focus on?

@Dexter Belleza, Welcome to BP and congratulations on your service. I myself am still serving got over a year left on my current contract. I have not used my VA loan yet my credit score is not quite high enough so I am working on that. One of the things that I like about LOC's is the power of leverage it can bring if used correctly. There is always ways to make something happen if you just put your mind there is a way to do !

What sort of ROI would you offer the third party investors? If it was an equity partner then it would makes sense to give them a decent ROI on the long run. Whereas a debt partner you could cash out after the purchase with credit (probably a line of credit) plus the promised interest. If you do not mind sharing in the cash flow the equity partner is a decent idea really. That one partner could be a big help when it comes to being able to get into multiple properties. I took to heart one of the recent webinars about building a power team and part of that in one way is a strong partnership with someone.

Anyway just my 2 cents. 

I have seen the youtube videos the guy who wrote that book puts out. He sounds pretty knowledgeable about commercial real estate, nuggets can come from anywhere. I think the guys name is Peter Harris, and if I recall correctly he also does some sort of mentorship program as well. 

I can say I haven't read it personally, but his youtube videos certainly gives some of the highlights and some possible ideas to get started in. I think though that depending on your level of knowledge when it comes to commercial there are better resources out there to help you. I myself am working on trying to understand the market and the opportunities with the types of commercial I am wanting to focus on. I think @Charles Parrish is right in understanding cash flow and having a solid strategy to investing it will work out.

Property Managers are also a good source of info because they need to know rental prices as much as any realtor. And if the local law requires the it the Property Managers could even be Licensed Realtors as well. Commercial Brokers also know alot about the local markets because they specialize in the local markets a bit more than your residential agents. One of the tips I have been given is to take out an agent to lunch and pick their brains. The other tip which I have been wanting to do is help them in some manner even if it is helping them sell a house or putting together a flyer, etc. 

There is a podcast about how to build relationships here on BP I forget which one it is but there is that as well as a few blogs that can help give you some other ideas. 

Let me know how it is going.

Semper Fi! Always good to meet another service member who has decided to take up Real Estate!!

I still have over a year left of active service to go before I can really hit the ground running. I am going to see another rehabber's rehab up near Konehoe which is where the Marines are around here this next weekend. I have connected with a couple other rehabbers around here and it is a tough arena to do but not impossible.  Of course my goal is to leverage myself into some rentals that can provide for my family. What school did you go to for real estate? There are a good variety of schools out there and programs that teach real estate and business that are real good.