All Forum Posts by: Miguelito Fernandez

@Jody Schnurrenberger

The civilian life is good huh? lol. It felt really good when I got out back in 2012. I live near Fort Bragg and I'm in love with the market down here. Raleigh is about an hour and a half away but between Fayetteville and Raleigh, there's a lot of development going on and things are looking really good for the future. Yesterday, I read an article here on BP and it mentioned Fayetteville, NC currently not being such a good place to invest in but I know I'm not having a problem. This goes for Raleigh as well except it's the opposite where it's a very hot market but I'm sure there are still plenty of deals to make. I'm also utilizing a property manager because what better way to make these investments more passive? I love it. All it takes is to simply add a 10% expense to your numbers for that service and you'll know if it's still a good deal or not. 

"Come on up" to NC @Brent Hill 

I'm no expert but the local county courthouse's bulletin board has worked out fine for me. I simply drive to the courthouse and write down the addresses of all the homes that have up-coming auction dates. I say "write down" because some courts won't allow electronics inside. I've also found homes by "driving for dollars." I'll drive through a neighborhood of interest and look for the "Notice of Sale" papers on the front doors or what seems to be abandoned homes (overgrown grass is the best giveaway). Zillow and other websites show some of these county auctions at times but not anywhere near the amount that's actually in process. To get the most accurate and up-to-date information on foreclosures, the bulletin board is it.

Just to help you out here: An updated picture of the place is preferable. A picture from 2015 kinda tells me I should approach this with caution. I also don't want to assume any laziness. You're using the term cash flow incorrectly. Cash flow is the money left over after all expenses. In this case, the $2,220 is the gross income, not cash flow. Also, you should also give as much detail about the SFH as you did with the duplex (bed & bath count) to present a more organized sale.

Charlotte is a hot market so hopefully, you get these babies sold. Good luck!

I broke my neck to the left

@Charles Beck I see you're looking for a 2-4 unit place but in the case you get a 5+ place, you can easily get a loan for it even if it's less than 1 Million. It can even be 200k. As long as the deal is good enough for the bank they will lend on it. Of course, you will have to personally qualify as well. As for the 2-4 unit place, you shouldn't have a problem getting a loan for it because it's treated the same way as a regular single family home loan. 

I have hired "A/C TECH" plenty of times. They've (husband and wife) been really honest with me and also gave me details of my rentals that otherwise I wouldn't have known about. I know they'll definitely take care of any HVAC situation but you can also talk to them about anything else. If you contact them, please let them know "Miguel, the guy in Iraq" referred them. Their contact number is nine-one-zero-494 6732.

No problem :)

I'm currently working with Richard Galt in Fayetteville, NC. Telephone 910/223-1300 ext. 24. He's a nice guy and was recommended to me by my good friend who is a hard working real estate agent :) I trust my real estate agent.

@Peter K.  

I decided that I would like to move into a quadplex so I started calling around. Navy Federal nor USAA provides VA loans for quadplexes. If I remember correctly, under the multi unit category, they only provide loans for duplexes. That's when I was referred to Veterans United. I honestly don't know the reason for it but Navy Federal does provide commercial loans so it seems a little ironic.

@Jennifer Han 

Thank you for the link! I will definitely keep an eye during closing! :)