All Forum Posts by: Kao Saeteurn

Reposted in completed deals

I would fix it, you budget for maintenance and CAPEX. I'm not sure where you apply the dryer in this formula but this is what you use as expenses. The money is not even coming out of your pocket.

If you didn't budget for CAPEX and maintenance, you better start.

@Zack Karp

Well darn, I thought I knew it all. Thanks for the info!

@Zack Karp

Great. Thanks for your answer!

Yea I assumed I’d be able to move out since I already lived there for 4 years. I guess assumption killed the cat. I should have mentioned I was considering moving after refinancing.

If I refi into a investment property IRRRL then the rate would have most likely be different since it won't be an owner occupied right?

@Zack Karp

This is awesome info. Thank you for posting it.

I don’t mean to hijack the OP’s posts but I feel this is relevant.

I closed on a VA IRRRL back in February 2020 on our primary residence that we have been living in for 4.5 years now.

My question is do I need to live in the house for another year before I can move out even though I’ve lived at the same place for 4.5 years now?

Thanks!

@Jennifer Katherine De Loughy

Awesome background and experience! I'm sure a lot of people can use your help in flips and REI. Good luck!

I normally lean towards being liberal and actually like Hassan’s show. However, he does not portray the whole picture of ****** tenants and why the tenants are being evicted. People that don’t know will believe partial truths without their own research.

I am also surprised he didn’t bring up BiggerPockets in his show about the “Landlord Mob getting together and finding ways to evict poor old tenant.”

It’s a show to get people riled up and generate views and his attack of @James Wise definitely is the perfect scapegoat for this by playing on partial clips of what he says in his videos. Each time I saw a clip of JW, I would think to myself “I wonder when the editors will display why the tenant is being evicted? The tenant has probably been living in their for free for months on end before COVID started.”

@Jon Williams I noticed you're in the USAF, there are a lot of advantages we can use with the VA loan. What is your strategy? Do you want to flip or just do buy and holds? Figure out how you are financing these deals and start thinking about your strategy and goals.

Great to hear you want to get right into it but have a good plan and team before you just do it. I'd offer the technique of using the VA loan to get a house to live in and move out in a year then rent it out. This offers no money down and a new place every year as long as you refinance into a conventional loan before you get your 3rd property. This is because the VA only allows 2 VA loans at a time.

Good luck, let me know what questions you have!

@Afshin M. Hello and welcome to Tucson! I have a realtor that definitely knows his way around Tucson. I’ve worked with him on two of my properties and he’s a great guy. I will PM you. As far as property management, I do my own.

@Hailey Sexton hello and welcome to Tucson! I have a few recommendations for realtors and a recommendation for properties. I will PM you for details!