All Forum Posts by: Jonathan Luna

@Jonathan Luna I may eventually move into other parts of CA, specifically Coachella valley, but for now the prices there are pretty high as well. I went with Memphis because it has strong cash flow opportunities. I own a couple properties in San Diego and they have good appreciation but no cash flow. Memphis was a good offset to that for diversification purposes. 

@Adrian, I'm not familiar with that specific market, but generally towns around military installations make decent places to own real estate. You could talk to the base administration and see what the plan(s) for growth are on the base over the next 5 years. This would give you some insight to population increase and supply/demand changes! There are a lot of military real estate investors active on BP, and we all seem to agree (for the most part) that house hacking is the greatest way to get started!

@Jonathan Luna i'm still in the middle of rehab so I haven't refinanced yet. It wasn't hard to find a PM - it's yet to be seen how difficult it is to rent, but Memphis is a heavy rental area, so I don't expect it to be difficult as long as it's priced right.

Indiana is not bad eityher.  Good cash flow-  B neighborhoods

@Brandon McBride I just started investing in Memphis, and have been happy so far. Bought my first property in a B neighborhood for $75K with about $20K in rehab. 

Currently have two seller financed properties.  These deals were structured on a 5 year term and 30 yr amortized payment @ 5% interest.  One property I am keeping as a rental and the other I am selling with a Lease Purchase Option.  The lease purchase option provides a nice down payment with better monthly cash flow. 

Did not take much negotiating on these properties.  The landlord was tired of dealing with maintenance and tenants.  I offered him a monthly payment and he did not have to deal with all of the issues that comes with rental properties.  I explained to him that after we agreed upon a term I would refinance the properties and cash him out.  At the closing table his wife couldn't stop thanking me for taking the burden off from their shoulders.  Sweet couple and it was a win win for both parties.  

@Jeffrey the answer to both questions is yes! you can purchase up to four units with the VA loan, and the loan limits will be lifted 20200101.

That being said, we have yet to see how banks are going to adapt, and what limits they will impose on the VA loan.

I have a YouTube series about the VA loan on my channel, shoot me a message if you'd like the link!

@David Pere

Can you shoot me the link to the video you are referring to please?