All Forum Posts by: John Philip Eugenio

Hello investors,

I am looking at purchasing a multi-family out of state investment. My questions are if I am buying a multi-family, what are the things I should look for, what are the questions should I ask to the seller? Considering purchasing a property in Ohio state which is way cheaper than California. A lot of these properties are already tenant occupied.

-John

Hello everyone, I live in California and I am in the process of getting my second property in California using part of my VA loan. Houses here in California are expensive; therefore, I am looking for a recommendation for out of state investment locations/market. I want to focus on $100K - $200 (Class B properties) and single home property. My goal is to obtain at least 10 properties as a long term rental investment, and then explore the idea of STR.

-John

@Alex Duarte

1. The plan is to just refinance it to conventional loan without downpayment if possible.

2. I bought that house in 2017. The goal is to not put any downpayment to purchase my primary home so I can use my other cash to purchase an investment property.

3. I owe about $400K and appraised at $600K.

I don't plan to cash out. If I have to cash out, I believe HELOC would be better option.

Good evening everyone,

My rental property is currently under VA Loan and I would like to refinance to Conventional Loan to fully free up my VA Loan to purchase my primary residence.

This rental has approximately $200K equity. Do I still need to put 20% downpayment to refinance from VA to Conventional Loan? Since the house has more than equity.

The goal is to purchase a primary home, and use my cash as a downpayment to purchase another investment property.

Just exploring different ways to take advantage of the VA Loan and ways for creative financing.

-John

@Patrick Gunn

The idea is to use it as a residence for a year then rent it out after. Most military members transfer every 3 years.

@Joshua McMillion

The goal is to increase my portfolio with single home and duplex units before retiring in less than 10 years. Then, the idea after Retirement is to explore short term rental since I will have more time to manage properties.

@Mark Frattini

Thanks Mark. I am leaning towards more to Chula Vista due to my wife nursing job. I am thinking about purchasing property no later than April. I am in the process getting my HELOC approve and I already have my COE from VA.

@Doug Spence

My property is currently being rented at $2,700. It is bring small cash flow and i have approximately $200 equity. I plan to keep this property.

@Mark Frattini

The appreciation here has been outstanding. Since Chula Vista is little bit cheaper than San Diego, and any zip code recommendations? Real estate agent? I plan to purchase in 2-4 months if I proceed with San Diego.

@Theresa Harris.

If I buy a townhouse in San Diego, I do not see myself moving back (too expensive to live here). The properties out here have been appreciating a lot which makes it very attractive to invest in. If I decide to move out after one year due to military orders, the plan is to rent it out and I used the BP rental Calculator of some the properties here and I would be breakeven. HOA has been between $150-$300 which I am not willing to purchase a Townhouse with more than $300 HOA.

I do not plan to retire here in San Diego and plan to do a 1031 exchange of the townhouse if the rental doesn't work.