All Forum Posts by: Justin Mabry

@Joe Villeneuve I’m sure you’ve got more skin in the game than I do, as I’m also new. I close on my first investment property here in about a week, would love some advice on how I could do better. Still thinking with my robot army brain I guess! Haha would love to hear what’s off with my logic here, mind if I shoot you a message??

@Isaac J Mork If the property is cash flowing positively then I would just continue paying the loan off and let it build up some equity. Then tap into that equity to put towards the purchase of the next property. The overall effect would snowball and really get the ball rolling on your investments. The equity from that property would go into the next and so forth. Rental income each month should offset the mortgage enough that its essentially free AND making you money. If the rate is good and the numbers are working each month then I would just keep that same formula, hope it helps! Good luck! Paying off the loan is typically much later in the game.

Excited to be closing on my first investment property here shortly! Got a long list of things I am excited to tackle to increase some equity and overall curb-appeal. For my more seasoned investors, what things are good to do it yourself and what things are just simply better to hire out for? i.e., painting, landscaping, bathroom tile etc. Anything helps!

 Single Family!

Alright, finally took the leap and got pre-approved! After being obsessed for months and honestly being stuck in analysis paralysis for a while I've decided to get off my behind and get in the game! Got funding and a pre-approval letter yesterday and am now officially shopping for my first house-hack. Found an amazing investor-friendly realtor who is helping me every step of the way. Any suggestions on the best questions to ask and things to look out for when looking at properties?? May sound like a dumb question, but the last thing i want to do is over estimate and get into something based purely off of excitement. Any help helps!

I've reached the conclusion that I can't really learn anything further from just reading books and watching videos. The rest can really only be learned through "on the job training" I've got the fundamentals relatively down and I'm ready to begin analyzing properties and finally getting some skin in the game! With that said my main roadblock (no surprise) is initial funding for whichever investment I may end up choosing. I believe that my best avenue would be a private lender for the down payment on a mortgage. Does anyone have any pointers on finding private lenders? Would I be better off simply continuing to save until I can afford 20% down?

@John FortierIt’d be a pleasure to connect!! I’ll shoot you a message and I much appreciate the response! 

I've read every book I can. I've watched the videos. I am obsessed with real estate and know that it is exactly what I want to do with my life. Would love the opportunity to network and get the hands-on experience necessary to see it in action. I am analyzing properties and saving with my wife to finally get some skin in the game, but in the meantime, I would love the opportunity to shadow or apprentice under anyone for anything to get a more in-depth look at how the process works. I'll help fix cabinets, mop floors, heck I'll walk your dogs if I need to. Just the free knowledge and advice would make it worth it to me, and you'd get as much free labor as you want. I'm located in the Fayetteville NC area. Any opportunity would be wonderful. 

Would love some insight. I officially get out of the Army in less than a year (359 days to be exact). I am aware that one stipulation of the VA loan is that it must be my primary residence for one year before I can leave. So when I factor in the time it would take to find a property, then close and move in I would most likely get out of the military months before that year is up. Upon getting out I would most likely get a stable job (I'm an Air traffic controller) somewhere else and feel it would be better to utilize the VA loan upon moving wherever that job is. BUT I also have the real estate bug and within the next couple of months am hoping to possibly flip properties for the next year until I have enough capital saved up to purchase and hold investments for rental properties wherever i end up moving (my final goal). Any advice??