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All Forum Posts by: Account Closed

Account Closed has started 6 posts and replied 17 times.

Post: Where Do I Start when Real Estate Investing

Account ClosedPosted
  • Posts 17
  • Votes 4
Quote from @Steven Foster Wilson:
Quote from @Account Closed:

My wife and I would like to get into real estate investing. Looking to buy and hold as well as do BRRR. There's soooo much information on different ways to do it but it's honestly overwhelming. I just want to purchase a property and rent it out but so many people have been telling me to go through a hard money lender, private money lender, go through the VA (I'm active duty military btw), maybe even get an SBA loan. I don't know where to start and there's too much information that it's crippling me. Just looking for some guidance on how and where to start when it comes to getting into the world of real estate investing. Thanks in advance!


I would definitely use your VA loan. In my opinion it is one of the best loans on the market. I've even thought about would it be worth going into the military just for that loan. When I got started investing my sophomore year of college, I had $500 to my name, My grandmother lent me $12k for the downpayment on a duplex on OSU campus in Columbus. Over the course of a year my wife and I fixed it up, rented to friends, ate peanut butter and jelly, did everything we could. We then refinanced the property and it has given us $140k in cash back and continually produces $1,800/month in cash flow.

I think you should identify the market in which you would like to invest. Start running numbers so that you know what a good deal will be. Find a good realtor, a good lender, and a mentor. 

Get started and it will be only good things for your future!


 Steven,

Thank you for the advice! Sounds like I just have to get started. And I will!

Post: Where Do I Start when Real Estate Investing

Account ClosedPosted
  • Posts 17
  • Votes 4

My wife and I would like to get into real estate investing. Looking to buy and hold as well as do BRRR. There's soooo much information on different ways to do it but it's honestly overwhelming. I just want to purchase a property and rent it out but so many people have been telling me to go through a hard money lender, private money lender, go through the VA (I'm active duty military btw), maybe even get an SBA loan. I don't know where to start and there's too much information that it's crippling me. Just looking for some guidance on how and where to start when it comes to getting into the world of real estate investing. Thanks in advance!

Post: No credit check rentals in Norfolk

Account ClosedPosted
  • Posts 17
  • Votes 4

Hi

I don't know if this is the right place for it but I'm exhausting all of my options. My mother has taken the appropriate steps to get her life back on track and she just needs a pick-me-up. I was wondering if anyone knew of any rentals in the Virginia Beach or Norfolk area that require no credit check? I'm just trying to help my mother the best way I can. She's looking for a 2 bedroom place for no more than $800 per month. If anyone has anything or knows anyone please let me know. Thank you.

Post: No credit check in Virginia Beach area

Account ClosedPosted
  • Posts 17
  • Votes 4

Hi

I don't know if this is the right place for it but I'm exhausting all of my options. My mother has taken the appropriate steps to get her life back on track and she just needs a pick-me-up. I was wondering if anyone knew of any rentals in the Virginia Beach or Norfolk area that require no credit check? I'm just trying to help my mother the best way I can. She's looking for a 2 bedroom place for no more than $800 per month. If anyone has anything or knows anyone please let me know. Thank you in advance

Post: Hello! REI Newbie in Virginia Beach / Sumter

Account ClosedPosted
  • Posts 17
  • Votes 4

@Preslie Hicks

Hi. Can I get in on this seminar as well?

Post: Newbie in Virginia Beach

Account ClosedPosted
  • Posts 17
  • Votes 4

@Patti Robertson that's really good to know. Thanks for the insight. I was just going through this thread because I am also in the same situation.

Post: Rolling debt into mortgage. Should I?

Account ClosedPosted
  • Posts 17
  • Votes 4

@Kevin Romines thank you! The information I received was pretty off lol. I'm glad I came here first and found out the truth.

Post: Rolling debt into mortgage. Should I?

Account ClosedPosted
  • Posts 17
  • Votes 4

Hi. My wife and I recently ran into an issue that resulted in us accruing $18k of credit card debt. In an attempt to get this debt down because we had goals on purchasing our first home (no more than $220k) within first few months of 2020. My question is, should we consider rolling our credit card debt into the mortgage? What does that process entail and look like? My credit score is above 750 while my wife's is about 680. Thanks in advance.

Post: New investor in Virginia Beach area

Account ClosedPosted
  • Posts 17
  • Votes 4

@Douglas Mcqueen most definitely!

Post: New investor in Virginia Beach area

Account ClosedPosted
  • Posts 17
  • Votes 4

@Douglas Mcqueen thank you for that! And yes, I've honestly been thinking about that quite a bit. That's why I posed this question because I was thinking this may be my only option with how the duplex market is.