All Forum Posts by: Paul Kucera

Hey everyone! I've been learning all I can about investing into real estate for a few years and I'm finally in a position to get started. I'll be looking to house hack up to a 4 unit so I can still use my VA loan. I'll be buying in central Florida, probably somewhere between Orlando and Altamonte Springs. I have some thoughts in mind for Property Management companies and Lenders (I'd still love to hear your input), but I'm really looking for a reputable RE Agent with experience working with investors to get the ball rolling. I'm looking to buy ASAP. It will have to be turn-key due to the VA loan, at least for this first property. But once settled, I have money set aside to start tackling BRRRRs too. And if there's a mentor out there, I'd be honored for your input and guidance. Thanks everyone, and best of luck on all your investment endeavors.

     Hey everyone! I'm new to interacting on the website, but I've been listening to the Bigger Pockets Podcast for about two years and I'm obsessed. I just received my Florida Real Estate License and, as excited as I am to start this new chapter in my life, I'm having some trouble figuring out how to transition from a standard 40 hour job to becoming a Realtor. I understand I'll need a few grand saved up to put toward dues, fees for a brokerage, as well as additional training with said brokerage. But, having enough money saved up to also float me for the time I'm training and spending money while making any isn't in the cards for me. Moreover, my current job may conflict with me being effective in training or selling, while an assistant position somewhere if they'd have me would be a $4-5/hour pay cut that I can't afford. It seems to me, at least from my perspective, that the only way to get into becoming a Realtor is the old adage "Gotta have money to make money."

     Is there any insight you folks would be willing to impart? At the moment, the only path I see for me is to just keep working and keep saving until I have several months pay as well as dues/fee/training pay saved up so I can quite or drop my job to part time and just dive into becoming a Realtor head first. Any suggestions would be greatly appreciated. Either way I'm not giving up hope or trying to find an alternative. Thank you, and good fortune to everyone.

     P.S.: Regardless of my career path for the day job, I'm working on financing my second house and turning my current into a rental to dip my toes in the waters of Real Estate investing. Happy hunting everyone!

After countless hours listening to Real estate podcasts, particularly BiggerPockets, I’ve taken my first actual step to prepare myself for investing in real estate. I recently refinanced my primary residence to a conventional loan which brought my interest down from 4% to 2.785%.  Of course there were plenty of closing costs associated, but there was also a reasonable amount of money that came back from the previous bank which was being held in escrow. This is a 30 year fixed loan, which also managed to drop the payment by $60.

While none of this is necessarily cause for celebration, the fact that the refinance freed up my VA loan is. We don't have a significant savings for any down payments for another property, but over the course of the next year that will change. Also over the next year my wife and I will have paid off our vehicles, which will free up over $900/mo. Since my current mortgage is only $950, that's a whole other mortgage we could afford. Especially since a VA loan is 100% financed.

In about a year, my wife and I will easily be able to justify our ability to afford two home loans, with or without a renter in either. I imagine it can be difficult to convince a lender to take a chance on you with a first time investment property having no landlord and or investing experience, especially during this COVID pandemic. This seems to be a solid work around as we navigate these uneasy waters. Utilize the VA loan to purchase our next primary residence, and then place a renter in our current home. After roughly 6 months, we will have a proven track record of maintaining two mortgages and profiting off of one as a landlord.

All of this with no money tied up in either property. Ideally after this, it should be off to the races. Now all I have to do is learn how to evaluate properties. I know, but I got a year and a half before I'd be prepared to finance my first property strictly as an investment property, so I've got some time which I have no intention on wasting. After that, I'm gonna BRRRR like the sky's falling. After all, who knows? It just might. And as far as we know, life doesn't have a reset button.