All Forum Posts by: Mason Griffin

This is awesome that you and your brother want to do this together. I think you can definitely make a great team, especially since both of you have the potential to utilize your VA loans.

Here are some of my quick thoughts:

1) You say you want to invest in real estate for passive income. Myself and I'm sure many more experienced investors would agree that real estate is almost never completely passive. Even if you make it mostly passive with management, what is your passive income goal? I'd define that first. Is it enough to quit your W-2? Is it enough to pay xyz bills? Etc.

2) Starting with a duplex is a GREAT idea, especially splitting it with someone (your twin). You'll be subsidizing mortgage with renters and splitting the rest of costs with him. AWESOME!

3) I'd definitely connect with an investor friendly agent and/or lender on here or from local meet-ups to help guide you on your loan strategy.

Hypothetically speaking, one idea you can each use an FHA loan to get properties, then move out and each use a VA loan on the next property. If you did this, you'd already have 4 properties and potentially 8, 12, or 16 units under your belt in the next 5 to 10 years.

4) Get super focused on your strategy, house-hacking, storage, etc. and concentrate your efforts on that. It is easy to get distracted, but where you focus the most attention will get results.

5) It sounds like you want to live a life by design. "Spend my days fishing" A small & mighty portfolio might be the best approach. Look up Chad Carson and his book Small & Mighty Real Estate Investor. It is one of my favorite RE investing books.

Good luck with everything!

Thank you so much for the great advice! And ideally, I am perfectly ok with managing the properties on the side of my w-2 job with my brother, but my goal is to get enough cash flow for myself and my brother to be self employed, and hire property management and any needed employees to reduce our workload as quickly as possible, so we can continue to expand into other investments. I am only 22, so my plans will probably shift, but I’m just trying to start getting a timeline and plan together for when we graduate. i appreciate your advice a lot, and i love the BP forums already! I will check that book out as well!

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Hey everyone! My twin brother and I will be graduating with bachelors degrees in finance this December from the University of Wisconsin Whitewater. Both of us are in the army national guard, so only about $15,000 in debt to take care of. I am currently doing a construction estimating internship in Milwaukee Wi. My brother and I want to get into real estate investing for passive income, and we're thinking about starting off with a duplex in a year or two after saving some money, that we can live in and rent other unit(s). We also want to look into using our VA loan for this, potentially doing a dual mortgage. Is this a smart plan? and does anyone have some advice on what we could do to get into the real estate investing world in a better way, right out of college with limited cash? We are both motivated, but seems like there are too many options to choose from, I feel like storage for boats/cars/RV's is my end game, so I can spend my days fishing lol!

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All Forum Posts by: Mason Griffin

Mason Griffin has started 1 posts and replied 2 times.

Post: Househacking after college with twin brother, both military!

Post: Househacking after college with twin brother, both military!