All Forum Posts by: Peter Wellman

@Joel Allen

ooh that's awesome. Ill have to check out their podcast.

Hey Guys, 

@Joel Allen, @John Leake, @Austin Grant McDowell, @Doug Spence

Thank you for all the comments and advice. I got in touch with a VA lender and he completely blew my mind. I didn't even know that i could use the VA loan multiple times being out of active duty. Thats massive!! My beginning strategies has completely changed now.

I'm going to use my VA loan and hopefully find a multi-family in or around Greenville, SC. I haven't seen much of those online but hopefully my real estate agent can pull some magic off and find me some that work for good cash flow.

I did see something interesting on instagram today and you guys might know more about it. It was from @frommilitarytomillionaire and he was talking about a VA renovation loan. I've never heard of that but it peaked my interest and i'm going to have to look into it more

@John Leake

Very true. Would definatly pay off in the long run

@John Leake

Thanks John,

Ya i'm gonna have to go on the hunt for multi-family homes. Ive seen a couple driving around but can't really find any online. There has to be some out there though in my area.

Thanks Joel,

House hacking would be an awesome way to do it. I've been looking in Greenville, SC and sadly i haven't been seeing any multi-family homes, but that doesn't mean they don't exist. I've also recently expanded my search to columbia/ charleston, SC. PMI is something i didn't think of. That liquid cash would be a great base to save for a second property. Thank you for the thoughts on my situation.

Hi Everyone,

I'm looking at buying my first rental property and I could use some advice.

I'm looking to buy a house that i would live in for a year or so and then buy another property and either live in the current on and rent the second out or the other way around. 

Here is a list of my position and options.

1. I recently got out of the military, so I have the VA loan however I have about 25,000 in liquid cash, and 20,000 in mutual funds

2. I just started a new job that brings in about 2000 a month, BAH for going to school 900, and disability 1800 (monthly)

Options

1. Take a loan out on my mutual funds at a 2% interest rate (which has tax loopholes) and use the liquid cash for emergency fund or to rehab the house. 

2. Use the VA loan with no money down and throw money at it while i live in it (interest rates are low right know so idk about this option)

3. Put my liquid cash down as a down payment 

I'm trying to get the most out of what i have to propel my real estate investment. Thank you for any advice you guys have to offer.

Hi everyone, I'm about a week out from taking my real estate salesman exam in MA, so I'm completely new to real estate. I was wondering where I should start for my journey of self education when it comes to getting into a real estate career? Thanks for the ideas..