All Forum Posts by: Jeremy Walker

Hello to all! I'm going to be moving back to North Carolina and my wife and I are moving to Fayetteville, NC (my hometown) and and are considering buying a duplex or quad and residing in one for a hopefully short period of time. We will be selling our house here in Colorado Springs. I was hoping to get some input from others who have used their VA loan benefits for this type? Any recommendations? Pitfalls? How long is the "seasoning" period before we could refi and free up the VA loan portion to buy our house we want to live in? Are there any "bird dog" lists you can recommend for the Fayetteville area so I can be aware of what's available before they hit market? I'm sure I'll think of more questions. Thank you in advance to all.

I'm not sure if you have a mailing list or anything of the like but I'm interested in similar properties as what you have listed. I'm looking for MFH....preferable duplex or quadraplexes near SCAD. Thank-you

No worries I have thick skin and am realistic. Yes, I'm looking at more so for debt reduction. I'm thinking with her graduating college next summer and her being in the reserves (Army) it will help as the traditional W2 job with her Officer pay. I'm most likely going to reduce a lot of the debt myself when I am supposed to deploy towards the end of the year. Thank you for the advice/input though.

So my wife finally has decided to get her Colorado Real Estate License I can't wait honestly. I'm hoping it will prove to be helpful. Mostly looking forward to hopefully some additional income as currently my (our) DTI is preventing me from investment purchases since I'm the only income.

I'm looking to purchase a buy and hold property and thus far my only dis-qualifier has been my dti can you assist in this type deal? The SFH is valued at 64k, no repairs are needed, has current tenants and I can buy for 35k. Send me a PM if this is something you think you can work with?

No rehab expenses just had the a/c unit replaced along with carpet/flooring.

Annual Taxes: $604.00

Annual Insurance: $687.00

Annual Management Fees: $834.00

Est Annual Maint Fees: $834.00

I'm coming up with annual NOI: $4,267

I think I pretty confident on this deal but just wanted some verifcation I'm looking to buy this home from family here is the breakdown:

Purchase Price: $35,000

Initial Market Value: 63,000

Currently Rented @ 695.00 per month

Mortgage Quote: 15 years @ 4.125% (195.82 per month)

What other info am I missing that will be useful to evaulate?

Did you end up getting a good property manager if not I have that I highly recommend I haven't had any problems with and great results!

Ok let me see if I'm getting this correct you used or use your personal home's equity to buy your investment rental(s) then refinance your personal home? The reason I'm asking this is because I have the opportunity to buy one of my mother's homes cash as I have the 21k saved up. The CMA says its worth 40k. She has another three I want to buy from her and she wants to sell to me and she doesn't care about the equity she has in them as we are family.