All Forum Posts by: Travis Callihan

 @Nicole Mills can you please add me to that list as well? Along with the properties and prices. 

Justin. If you are single, or married without a few kids I would recommend using your VA loan to purchase a multi-family home. The VA loan will allow you to purchase up to a 4-plex. You can live in one unit and rent out the other three. It will allow you to get into real estate investing with little/no money down and your tenants will be paying your mortgage. After a few years, you can re-finance that out of a VA loan and repeat the process.

@Paul Amegatcher not sure if you are admin for that page or not, but I just submitted a request to join the group.

@Account Closed I agree that it doesn't seem good for either party if I try to work with multiple agents. I drafted up an email to send out with my standards and expectations and hopefully that will help clarify my desires and allow me to choose the right agent.

I am in the military and I have been in this exact situation before, as the tenant. I attempted to break the lease early because of a home purchase and was told by base legal that unless I received orders that I was under the same contractual stipulations as everyone else. It was at a large apartment complex and the management was not willing to work with me so I had to stay until I fulfilled my lease.

In your situation I would try to work something out with the tenant, if he agrees to throw some extra money in for rent this month, attempts to fill my vacancy, and allows you to show the home while he is still currently residing there then I would call it good.

But you do have the right to enforce your lease.

**Tried to edit my title since I forgot the "T" in agent but can't figure out how to edit it.**

Hello everyone. So I just had a quick question regarding choosing a real estate agent when looking to buy a property. I am in the military and got orders to my next assignment in Ohio, so I posted on social media asking what communities were highly desirable and I got a ton of responses. Since then I received messages from multiple real estate agents who want to work with me and have began sending me properties to look at.

My question is, how do I choose an agent go through? I do not want an agent to put in their time and energy into me and me end up choosing a different agent. At what point do I choose one agent and what do I tell the other agents?

I want an amazing agent who has my best interests in mind, and I want to do the right thing and do not want to burn any bridges. Thank you for your input.

Here is the amortization schedule link...

http://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx?loanAmount=300000&years=30&terms=360&interestRate=4.500&loanStartDate=16+Dec+2016&show=true&showRt=false&prods=216&monthlyAdditionalAmount=0&yearlyAdditionalAmount=0&yearlyPaymentMonth=+Dec+&oneTimeAdditionalPayment=0&oneTimeAdditionalPaymentInMY=+Jan+2017&ic_id=mtg_amort_calc_amortization_btn

@James Marszalek Thank you this. It seems like it would save a lot of money, and would not be a lot of extra work on my part. Let's use your scenario as an example. I think I got the numbers correct but I just wanted to make sure. Let's say I get a VA loan with zero money down. So I get a mortgage for $300,000, 30 year fixed rate at 4.5%. I ran it through an amortization schedule calculator. Which I have attached to this post.

If I get approved for a $10,000 line of credit with a 7.99% interest and max out the line I would be paying roughly $72 in interest monthly.

I would pay my first month mortgage payment out of pocket, in order to pay the interest for that month, then in the same month use my $10,000 LOC and apply directly to the principal. So I would pay $1,125 for the first month interest. But then I would get interest free for the next 6 months.

Saving me $6,717 in interest on my mortgage and only paying roughly $432 on my LOC.

Then when my line of credit it paid down to zero, using my BAH each month, I would start the process again. As I pay off my line of credit my limit would be raised and keep repeating the process.

In the end if my limit stayed at $10,000 for the length of my loan and I paid $72 a month on my LOC, for lets say 20 years. I would end up paying $17,280 total and my mortgage would be paid off. As opposed to paying the minimum each month for 30 years and paying $247,000 in interest.

Please tell me I did these numbers correctly. It would be a huge game changer.

@Christina Carey & @Darrin Carey I sent you a colleague request so we could discuss further. 

Thank you for your responses.