All Forum Posts by: John Jimenez

Hopefully, this weather isn't too bad.

Awesome, this will be the first meeting I attend. I can't wait!

welcome! I'm also new to real estate investing and wouldnt mind making more friends/potential future partners! I recently purchased a single family home for myself to live in for a year and than rent out (using the Va loan) unfortunetaly I had a limited amount of time to find a home and couldn't find a decent multi family deal (was also nervous of finding renters/convincing my wife is hard haha).  

Anyways, thats a little about me! I hope you continue on and do well, I love the podcast and their book suggestions from the Famous 4. 

Hello! I recently purchased a home in Burlington (one I plan on renting after a year or so) and my agent Marina Shikman from Coldwell Banker was amazing! She was recommended by USAA to me and we loved her, she honestly went above and beyond for us plus she has amazing reviews online that you can look up :)!

Hey @Jack Quigley I am also fairly new to REI and have just finished purchasing my first home (currently living in it). My goals are to move out within two years and rent it out, while purchasing a duplex as my second property. I haven't been to a meeting myself, yet, but will be going to one soon! Great to meet you!

@Russ Draper hello! I will be able to get the va loan again, I believe I'm allowed to have two va loans at once, or sell this one and use the va loan again!

@Nolan Martineau thankfully it is a 30yr fixed mortgage rate, and thank you for your input! @Bryan O. Thanks for the encouraging words! I believe I've decided to stay in this place for a year or more (since I can comfortably afford it) depending on whether or not the rent goes up, and save up down payment for a duplex ! Thanks again everyone for your kind words of advice

@Lionel Li thank you for the tip, I didn't even consider refinancing. Do you think it would be better to just stay in this home and use that 20% as a down payment towards a duplex using something other than an fha or va? Once again thanks to everyone for all the information!

@David Kenny you're right it really would be tight to rent this out, I guess I also have to see how much everything changes while I live in this property for the next year to year and a half.

I really liked how you calculated the cap ex I will definitely have to add that to my notebook of useful things and use it in the future.

@David Kenny thanks for the Advice! I was also kicking myself for not negotiating better...fortunately there are no HOA fees. Would you mind telling me how much you account for vacancy and cap ex? I'm planning to manage on my own since it will be my only rental (to start). @Kevin Phu I have not used the calculators yet since I have been staying at a no Wi-Fi Cabin with only my cell phone providing me internet access (BP doesn't work well on my phone) I guess another reason for this hasty purchase was that I needed somewhere to live so I soludnt have to pay the ridiculous 2100k rent I'm paying to accomadate my wife two cats and myself.