All Forum Posts by: Jesse Tegtmeier

@Elizabeth Grahsl, I'm curious as to your reasoning that VA loans are the most expensive loans. Is it because of the funding fees? As a disabled veteran funding fees are waived. If there are other things to consider that makes VA loans more expensive I would be interested to learn from your experience.

Thanks!

By the way, my financing situation has taken an interesting turn.

Before giving up on my current loan application I asked them to only consider my retirement pension and forget the pay from my current job.

That qualifies me for $80k...It's a VA loan so the place has to be move in ready, pretty much rules out foreclosures. Leaves mobile homes that are move in ready and on a foundation with a property deed etc. A mobile home would be ok but I would really like to have an exit strategy, not just pay retail for an old single wide...

By the way I intend for whatever rehab I finally get into to be a primary residence until I can complete the rehab, and either flip it or rent it. Meanwhile of course I'll be working on ways to fund the next property.

Does anyone have any other ideas of what I could buy with a 80k VA loan?

@Arianne L.

-Partner up with an investor, yes, that would be a great team! I'm sure there are investors who for various reasons don't want to be personally involved in the rehab of houses. That's where I would come in. I like the work and have experience, equipment and a network of folks who do that kind of work.

Maybe I can meet someone like that on June 6!

This BP community really is awesome, so glad I found you all!

@William Allen

Thanks for the reply! June 6 is on my calendar!

- I'm working the private money

- I'm in search of a partner

- I will definitely shoot you a PM concerning local banks!

- Finding folks who would like to owner finance...I'll have to look into the podcast and blog and learn more about just how to locate these kinds of people. I definitely see the win-win aspect 

Can't wait to  meet you all!

Marcia, Thanks for the ideas!

B, and C are possibilities I am looking for.

Put together a document package-great idea

There is an REI meeting the second Tuesday of the month at Golden Coral in Pensacola, I've missed it the last two months due to work, but next month I'll take the whole day off if I need to. I'm searching for other groups.

Traditional yes, VA. I will try a local bank. Thank you for the advice Brad!

The only true real estate investment I've completed (all other real estate was primary homes) went something like this.

Small 3/2 modular home on half acre. Purchased for 60k, invested 11k, totally rehabbing the house, looked like brand new. Rented it for positive cash flow for 2 years. Due to other life situations it was time to cash out, the market was down, year 2009, sold the place for 93k. Total profits including rental cash flow was approximately 25k.

I wanna do more!!!

Hi everyone! I'm really excited to have found BiggerPockets. I've been out of the REI game for a while and I'm excited to get back into it. My profile tells a bit about me but I'll repeat the highlights.

I am a recently retired US Marine. I working in the home improvement/repair field. I would REALLY like to be improving my own real estate in the Milton, Navarre, or Pensacola FL area.

Here's the question: I have been turned down for a mortgage because "I haven't been in my current business for 2 years..." Can someone advise me on alternative financing? I guess I need to look into hard money financing but I have never dealt with that and know nothing about it.

I will continue to read, listen, network and learn.

This seems like a GREAT community of people, I'm happy to be here!