All Forum Posts by: Rafael V.

If I'm not eligible for the VA loan, what would be the next best option?

@Matt P. For sure, good way to oversee everything and be there if anything goes wrong. Again, appreciate the replies.

@Matt P. Thanks for that Matt. Would it be possible for me to house hack for that one year? While I rent out the rest of the house? Or does that go against any laws/rules?

Thank you @Megan Phillips will start searching asap!

Good afternoon everyone! Just wanting to ask how should I get started, I'm 22 currently a student and I have around $50k saved up. I'm interested in doing student rental properties. I found a great location to start, but not sure what to do next. I'm also part time military (Air National Guard) and will see this weekend if I'm eligible for a VA home loan so no down payment is required on my first home purchase. Which route should I take in order to get the house? How do I go on about making an offer etc...?

The house I'm currently looking it as is around $137k for a 5 bedroom/2bathroom. It's a 2 min drive from the university and rents are going for around $2,500-$3,000 a month. Tenant pays all utilities so the expenses are very low. Any advice/insight would be greatly appreciated, thank you.

Currently looking at Glassboro as well. Seems like a good area to be in. Nicely done on the rehab, looks great!

I'm 22 and trying to figure out the best markets for cash flow in the NJ/PA area. I currently live in North NJ, but prices here seem to be a bit overpriced and the property taxes are insane. Which is why I'm thinking of properties in PA which can result in higher cash flows. Still open to both states. Any insight about these markets would be greatly appreciated, thank you.

 As said above most private loans have a 8-9% interest rate. So I just have to make sure that there is a positive cash flow in the acquisition stage of the deal so when I refinance (12 months) with the newer loan it'll result in an increase in cash flow. Is this correct? Thank you for replying.

 Appreciate the reply. So once we refinance the property it'll increase cash flow and receive all or the vast majority of the initial investment to then go and get another property to repeat the process? 

Hello everyone, pleasure to be a part of this community. Seems like there's a lot of valuable information and people on this forum. I'm currently very interested in investing in MFH's. I'm 22, live in NJ, currently a student, and have around $50k saved up. I've been researching for only a week and trying to choose which investment strategy would be best. BRRRR caught my eye, but the only part I don't really understand is the refinancing part. I get that refinancing would provide cash for your next property, but won't refinancing the property after 6-12 months result in a higher mortgage for the initial property etc...? Also the BRRRR strategy might seem more appropriate to someone who has a full time job, why would the bank give me a loan if I'm a student. As I said I'm rather new to this so I apologize for the noob questions, but any insight would be appreciated. Thanks!