All Forum Posts by: Trevor Soderholm

 I appreciate the feedback! This would be a live-in flip with a lot of potential inside the house--just thinking about what I could do with the over an acre behind it as well. I personally enjoy water sports and fishing, so I'd be doing it for my own enjoyment as well as the potential return. Thanks again!

Context: 3200 sq. ft. home on a 1.25 acre mostly wooded lot in a rural area that is a short (30-45 minute) drive to a major metro area.

From what I have seen, to clear an acre, put in a pond, and stock it with fish could run as little as $10k.

Knowing nothing else, would this be a good idea to potentially add value to the home if I were to sell in 2 years? There is an upstairs rear-facing balcony overlooking woods right now, but I imagine if it could overlook a pond that would be a plus for many people. And then the property could be classified as waterfront.

Bottom line: what kind of return am I looking at by putting in a roughly one acre pond?

Thanks @David Moore

I am planning to use my second entitlement soon and have already looked into what it takes to do so (most of it depending on what county you buy in and at what price). But from what you are saying, it sounds like using the IRRRL won't affect my ability to make another purchase using the VA loan benefit. My loan will simply go from being VA to still being VA but with a lower interest rate (and a restart to the 30 year term). Thanks again, and good luck!

I am in the process of looking into using the IRRRL. I am just wondering what kind of pitfalls there might be. It almost seems too good to be true. Any insight is appreciated! @Clifford Paul

@David Moore now that it's been several months, are you happy with the IRRRL? I finally responded to one of the many letters I received and I like the guy I'm working with but am still apprehensive.

Hi. I am doing something similar and have been weighing responding to some of those letters I get. Now that it's been a few years, how do you feel about the IRRRL? Are there any downsides?

Sheila, I'm interested to hear how things have progressed for you.

@Randy Friedland, thanks for the info! When does the group normally meet?

Thank you, Russell. I have heard the same! I will certainly look more into the field. The problem I am encountering (with every field of law) is that they don't seem stimulating, especially after the other kinds of work I have done. I see REI as helping me strike that work-life balance while doing something new and exciting all the time. I have plans for obtaining startup capital after I graduate, but yes, I will likely work in a legal field (at first) for a revenue stream. My fellow students probably think I'm crazy...

I am currently enrolled in law school at the University of Richmond. Upon completion I plan to begin investing in real estate. Prior to law school I was an Army Ranger and prior to that I studied philosophy at VCU. I am interested in commercial and residential real estate (specifically multifamily).