All Forum Posts by: Stuart Grazier

Mortgage and lending professionals, 

I signed up for a program a few months ago that's basically a budgeting tool (kind of like Quickbooks online) that shows you how to use an open line of credit (like a credit card or a HELOC) to pay down your closed ended debt (like a car loan or mortgage) really fast by taking advantage of how the interest is calculated on an open line of credit (daily simple interest) verse a closed ended line of credit (30 year amortization). It doesn't really change your monthly budget, but takes advantage of the two types of debt, just like banks do, to help you pay down the principle on closed ended debt quickly so you aren't paying so much interest up front.

Is anyone else using this strategy, or teaching their clients how to do this? It seems like a no-brainer once I've learned the system, but I don't see or hear it being talked about a lot. Am I missing something? It seems like it would be a great way to pay down the debt on investment properties too! I'd love to hear your thoughts on it. 

@Blaine Martinez Thanks for the kind note; we are glad to help! 

@Kevin Taylor I'll echo @Irene Nash - there is no degree that will teach you more than the actual experience of just getting started doing real estate and honestly a Masters degree won't qualify you more than other investors. Being a successful real estate investor starts with building solid relationships, experience through actually doing deals, and knowledge based on experience (not on a degree). My advice would be to really consider what you want to do within the real estate realm and  then go surround yourself with those that are doing it and just start. You don't need to pay for a Masters degree to be a real estate investor. I'd be happy to help with any questions you have about transitioning out of the military and into real estate as well. 

@Michael Ilizaliturri There is no longer a limit on the VA loan. You have as much purchasing power as you can afford and qualify for. My advice is to start building out your team and take action on finding a property to live in and house hack - it starts with finding a great Realtor and a Lender that are both investors and can help you look at properties and loans with an investor's mindset.

@Michael Ilizaliturri The best time to buy real estate was yesterday. The next best time is today. Don't wait any longer, just take action. 

1) Use your VA loan and get into a house in Colorado Springs to house hack. That costs you very little money and you can get tenants to pay your mortgage for you. That's a no-brainer. Colorado Springs is a great market and it's not going down anytime soon.

2) Use your cash to either start lending money to flippers, or invest as a limited partner in bigger commercial syndications, or go buy some rental properties in the mid west where it is cheaper and the numbers make sense. This comes down to networking and finding the right investors that you get to know and trust. 

Stop sitting on the sidelines and go get after it. You won't get anywhere by just stockpiling money in a bank account; you are technically losing money, due to inflation. Go get your money working for itself. 

@Ashley Wiens happy to help with the mortgage side of things. I'll message you. 

@James Jones We've seen tons of VA loans go through in Denver! It's very competitive here, but the VA loan shouldn't stop you from your goal; it's an amazing benefit and you should absolutely use it! From a military guy to another, thanks for your service!

@Melissa Noonan I'd definitely recommend using a local lender who is familiar with the local market; you can get lost in the mix by going with a big bank! 

@Josh Horst Love the motivation! You will need a Realtor who specifically knows what to look for and identify good house hacking properties and a good lender who will be able to help you muddy through the waters of getting your lending set up. @Anson Young or @Dan Mackin can absolutely help you find some properties. 

Talk to @Linda Weygant; she's awesome!