All Forum Posts by: John Kaspar

Ahhhh didnt know that was a stipulation. 

Id look at local laws to see what requires a permit and what doesn't. I generally do my own work, and if I don't know what to do: youtube, youtube and more youtube till I get a warm and fuzzy.

So, just purchased a house a few weeks back. When the appraisal was done, the paperwork say .41 acres. Yet i received my deed in the mail shortly after and it said i have 1.1 acres. After doing some research,  the land is wetlands and generally undevelopable, but will this yield me any equity as my land amount has doubled since the appraisal ? 

So, long story short....how? 

I'm close to closing on my first property and realized that I haven't heard about this in any of the podcasts. So, that being said. HOW does a landlord pay themselves?

Just wanted to know if people think its tacky to call another investor (whom I've never met) and ask if they have anything for sale. Its one of those "we buy multi-families" yard signs. I'm in a super competitive area need other options.

I do know about the mailing/driving for dollars,but I'm trying to use the VA loan so most properties that will work out with that will probably fail inspection.

I know this thread is old, and figured I may as well post. RI is a crapshoot, I live in south shore MA (Brockton area) and despite the low cost for RI, the rent is just as low. Also, if anyone knows of any duplex/triplex for sale in the south shore area (plymouth to quincy) please let me know. 

@Account Closed i just happen to live in MA and have essentially lived here my whole life. Im just used to the area, however I was heavily considering Virginia because of how cheap it was to live on the coastline  (comparative to MA) I could buy significantly more there, however I would have to start over with looking for a new job and all that headache over again. 

Here's my current issue:

only make about 60k (assuming that would only qualify me for about 270k)

almost out of debt(maybe 5k)

essentially no money in the bank (spending it all on debt)

land around me is ridiculously expensive(MA)

(have a VA loan)

wanted to know if this concept would work

1a. Purchase a foreclosed home (with VA loan)

1b. Possibly do some quick work 

2. Refinance on equity  (only ask for 15-20k)

3. Use funds from equity to use as down payment on MF

4. Sell house 

5. Then BRRR on multi families.

Not sure if this can work, but with little amount that I would be approved for wont get me much in MA, CAN this plan work?  Just looking for insight/direction. 

Thanks in advance!

@Kevin Phu I'm still waiting on the decision. I really would have never even applied for it if I never found out it could be used as income. Although guys from my unit have been telling me to get on it forever.  Also, thanks for the service.

@Chris Seveney sounds like i have a headache ahead of me. I was planning on VA due to them still having 4 seasons. Still want snow, just not feet at a time.

@Eric (how do i tag people?) I have applied for more cards (i think i have 15 total) and applying for more cards has raised my score by lowering utilization. It just seems to be something thats been hanging over my head and I want/ need it gone,