All Forum Posts by: Logan Wray

@Michael Plaks

Thanks for the reply. I did some digging and looks like I will just file with form 1040. I was over complicating I think.

Hello all,

So last year I acquired my first rental and it ran like clockwork "knocks on wood".... So now it's tax season. I have a property manager who sent me an end of year statement, but I'm wondering if I need to file a 1099 or just give my CPA the statement and let him sort it out? the property is in AZ if it matters. Thanks in advance for any advice. I just jumped into this thing head first and didn't think of this stuff until now.

Does anyone have any good suggestions for a property manager in Gilbert AZ? My wife and I are looking for another primary residence and are wanting to hold on to our current property. The house is 1600sqft 3 bed 2.5 bath. Located in power ranch.

Originally posted by @Brent Coombs:

Given the very nature of your occupation, you can hardly be expected to promise to live in one home for the duration of its loan. I'm guessing that's also why you're NOT limited to just one VA Loan at a time (unlike FHA). [But, you'd be expected to space them out, like you are]. All the best...

 Thank you sir! You as well and thanks for the advice.

@Jay Brown , @Brent Coombs, and @Tyler Hodgson ,

Thanks for all the feedback! - Brent: I have around 20k in equity in my current home. I wasn't necessarily trying to pull any cash out of it though. I was under the impression that as long as I was under a "VA home loan" I had to occupy the residence until the house was sold or I paid off the note? This was my main reason to re fi. so I could hold the property and get into a new with zero down. - Jay, and Tyler: So from what you guys said I could take out a second VA loan on another property? What about the occupancy requirements? P.S I borrowed 200k for my first house with a va loan.

Hello all ! My name is Logan Wray and I have some what of a  dilemma. I am brand new to real estate investing but I think I am ready to tackle my first deal. I have questions on how should finance it. My current home was purchased using the no money down va home loan. I'm wanting to make another purchase in the near future preferably a multi family unit, but I don't know if I should just save up for the 20% down payment on a new property or refinance my current home with a traditional 30yr note and then once again use my va home loan for the new property? Feed back would be greatly appreciated.

Ps. I would like to rent out my current single family home and "house hack" the newly acquired property.

Logan