All Forum Posts by: Krissie Cole

Hello,

I can meet you for coffee and point you in the right direction.    

Congratulations on starting your investing journey. Are you by chance able to qualify for a VA loan? I saw you applied with Navy Fed. If so, there is a possibility that with a signed lease on your primary home you can purchase a second primary residence with your VA benefits. I am not a loan expert but I can help you find one to help with this potential scenario.

Do you have any prepayment penalties if you refi and pay it off before the 2 years interest only is up?  

@Caroline Gerardo @Gary Tucker appreciate the information.  Now I have a direction to head in.  

Hello,

Do you know of any companies lending money for mobile homes?

Thank you for your help,

Hi Andrew,

The VA loan is a very powerful tool to maximize investing with. You wont be able to finance with a VA and a partnership LLC (please confirm with your lender). You can get a good real estate attorney involved that could possibly draft up something in regards to you paying back your friend outside of the deal. Connecting with the best VA lenders that understand how to help you along your investment journey is also key along with a good agent. As far as lending is concerned please connect with someone local. It will be good to get some hard money lenders/non-traditional lenders under your belt as well in case you come across a deal that cant be financed via traditional means. Thank you for your service!

Krissie

Hello,

Agents and property managers in our area are quite adept at working with out of state families due to the unique strong military culture here.  Please let me know how I can help.  

Hello,

Our area is unique because we are landlocked (bordered by oceans, rivers, swamps and nature preserves) and there is not much opportunity to build new construction on the southside.  This means less places available which means even though something might not look like the perfect investment at this time in a year of two it will be due to rising costs and lack of inventory.  I still can find "deals" but most require some guts.  Find a good interest rate and focus on building equity and by all means get your money out to do the next deal.  Good luck!

Could you message me the Norfolk address please?

Nice!