All Forum Posts by: Josh Edelman

Quote from @Joe Villeneuve:

How much equity do you have in the current properties?

 Not much, combined probably $80K

Quote from @Adah N.:

@Josh Edelman

Do you have a wife and/or kids? If not, another owner occupied property is probably the easiest and least expensive way to get a 3rd property. It needs to be a a good investment property to buy and hold i.e it will appreciate and cash flow when you move out and rent.

 Thanks Adah! I do not. I have a girlfriend who is moving in with me. I will consider this option. Thank you! 

Quote from @Eliott Elias:

This is up to you and what your investment goals are. If lending is your constraint there are DSCR loans that will allow you to take as many loans as you want as long as the property cash flows. Hoping to use your VA loan for investment property will handicap you.

Thanks! I've gone through one lender for a DSCR loan, however DSCR rates were extremely high making anything cashflow negative. Do I keep shopping for other lenders for DSCR or find another strategy? Very very tough to get these rates down of course. 

Quote from @Larry Turowski:

@Josh Edelman congrats on your first two!  I’m in Las Vegas right now and could tell you all about Rochester for your third!

I don’t care to gamble. Funny thing, I was just telling someone, why gamble when I can win 90% of the time with real estate? (And it’s really higher than that.)

Thanks Larry! I'd love to connect if you don't mind. I'm an agent in Vegas but I'd be all ears to hear about Rochester. Thanks again!

I want to buy my next investment. Looking for advice on way forward. Here is the skinny: 

- I have one rental property (VA loan)

- took out a Heloc to buy my second property 

- I live in the second property (VA loan also)

- I've used up my VA loan limit

- I have $50k saved for a down payment 

- I live in Las Vegas and don’t mind investing out of state 

- Best advice for third property? 25% down conventional out of state? Move out to a primary residence on a third property? 

- goal is not to sell the current two - they cash flow well 

Thanks! 
 

Quote from @Josh Edelman:

The Home is across from me. I meet the eligibility with cap limit but the concern is distance per VA guidelines. How do I get around this with the lender or provide justification? I am absolutely against lying or deceit by any means. Looking for any input. Thanks!

 If I refi, I lose the incredible rate I have, owe closing costs, and now my deal is no longer a deal because I will be negative cash flow big time!! The deal only works if I dont REFI

The Home is across from me. I meet the eligibility with cap limit but the concern is distance per VA guidelines. How do I get around this with the lender or provide justification? I am absolutely against lying or deceit by any means. Looking for any input. Thanks!

@Erik Browning Absolutely fantastic breakdown. Thank you for your time and explaining this. Appreciate the scenario as well. 

I currently own my own property as a VA loan. I want to assume a VA loan property across from me as an investment property and/or move in to it. If I assume it, will it count against my VA eligibity cap? Am I even able to do this since VA is strict on proximity to second home? Or will it not be affected? Thanks!

Hey everyone, I am following this post. Great insight, I am moving to Vegas in March '20 and I am in the exact same as @Jim Owens almost word for word. I hope I can find a good deal. It sounds like SFR is the way to go then correct? I plan to househack it. I am currently deployed and moving in March so I am studying the area now (plan to move North west vegas). Thanks!