All Forum Posts by: Joel Case

Definitely outfit it with appliances. I would head to Facebook Marketplace and get good working used units. 

Super common these days. Homes are going pending in days, most have multiple offers. Good homes will have more offers, a friend bought a very attractive property in 2020. They were on market for three days and stopped accepting offers on the third day. They had over 20 offers. It has only gotten worse since. 

 Given your background, home inspection seems like an obvious move as far as career path goes in addition to real estate. As an agent I would also do some flips or BRRRRs. 

 That's essentially my current plan, I want to house hack, pay off first residence, then once the first is paid off look for another residence and start paying off the second home, etc. The caveat is that I want both of us to be able to quit our W2s in 10-15 years and live off the cashflow generation, so paying off the properties is where my head is currently versus having more financed properties. 

Background:

Currently FHA financed on a SFH where I live. Bought for $125k, remaining balance $60k, appraisal should be $175k. Currently pre-approved through the VA for $400k but lender said $500k is an easy reach. I would like to get a 2-4 unit multi-family, but the ones that are more common in my area are low quality. Thinking of buying a SFH that we will live in permanently and renting my current home which should cashflow $500 a month easily. My goal is to have properties that are paid off cash flowing $6000+ monthly as retirement income to replace our W2s. We live in a coastal town on the Mississippi coast which could do well with a STR if I can find the right property. I actually found a great STR property for a friend last year and he is killing it with STR. Would love to hear input, thanks in advance.

 Justin, I definitely plan on attending soon, but I don't think I will make it this month. 

 I haven't run the numbers on my current residence, but I can safely say it would cash flow well in the current market. The current market here is like most places, very hot right now, but I am seeing a slowing of sales and also an increase in price per sq. ft. The good news is that I am not in a position where I MUST purchase, I am simply prequalified and ready to purchase should the right deal come along. 

Hello! Long time lurker, first time poster. I live in Ocean Springs, Mississippi. A little over 5 years ago now my wife and I bought our first SFH, a nice little 3/2 with some unique character. We have been aggressive in our payments and have gotten our principal down to below 50% of our original loan and have started contemplating getting another home with our VA loan and renting out our current home. I have already made some local connections and look forward to soaking up as much information as I can.

I went to college in my 30's because I went essentially for free due to military service. If I were in your position, I absolutely would NOT attend college. You know what you want to do, this is what I would do if I were your age:

-embed yourself in the real estate industry locally

-work as an automotive technician 

-save every penny you can

-build your credit

With these steps you should be ready to make a purchase by 21-22. At that point I would purchase a 2-4 unit building or a single family residence (SFR). If SFR, I would personally rent out the additional bedrooms to your friends and colleagues to pay the mortgage, or at least a majority of it.