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All Forum Posts by: David Pere

David Pere has started 34 posts and replied 868 times.

Post: New Investor - Active Duty - Overseas

David PerePosted
  • Rental Property Investor
  • Springfield, MO
  • Posts 1,091
  • Votes 890
Originally posted by @Matt Teegarden:

Good Morning BP!

My name is Matt and before anything else, I’m stoked to finally post this bio and share my intentions with you all.

I’m enlisted in the US Air Force. I’m an E-5 married to another enlisted military member and we are currently stationed overseas at Misawa Air Base, Japan. I work in the Command and Control career field. I am still unsure if the military is going to be my long term (20 year) plan but I’m here and making the most of it every day! I even started my own small-scale moving business here in Japan.

I’m young-ish (27) and extremely motivated to get started in real estate investing.

Throughout the last year or so, I’ve been doing a lot of research, (books, podcasts, YouTube) along with meeting face to face with several enlisted members with real estate experience, all in the name of procuring as much knowledge as possible before diving in head first to our first property.

We are primarily interested in small multi-family housing in the near future with aspirations of scaling to commercial multi-family within the next 5-10 years.

I’d be very interested in learning more from investors who have experience investing in military towns, having military tenants, investing from overseas locations, and obviously, other enlisted (or officers) military members. I am passively involved in the ADPI (Active Duty Passive Income) community as well.

Currently, I do not have a particular market I want to pursue. We’re currently awaiting our next assignment notification and want to have that knowledge before buying.

Thanks for taking the time to read this post. I look forward to hearing from you and attending countless BP meetups in the future!

Thank you,

Matt Teegarden

Thanks for the mentions @Doug Spence @Rich Carey and @Chris Levarek I appreciate you all!

Matt, happy to help in any way. The Military Millionaire Community is all about helping service members and veterans learn how to build wealth through real estate investing, entrepreneurship, and personal finance. We've got tons of free content on YouTube, Facebook, etc. 

Over the last 5 years I've replaced my income through real estate, and am currently leaving active duty at 13 years to take it full time!

Post: Newly Addicted to Biggerpockets!

David PerePosted
  • Rental Property Investor
  • Springfield, MO
  • Posts 1,091
  • Votes 890
Originally posted by @Sean Snizek:

@David Pere good to hear! I have some family loving in Sherwood, well, maybe they still live there lol. It seems that there are quite a few from Arkansas on BP. If you don’t mind me asking, when did you start investing into real estate? We’re you already in or did you start before?

 I started in 2015, and joined the Marines in 2008. Was terrible with finances prior to 2015, haha

Post: Military Member Looking to Start in Multifamily

David PerePosted
  • Rental Property Investor
  • Springfield, MO
  • Posts 1,091
  • Votes 890

@Marcus Long @Doug Spence

@Doug Spence

@Phillip Webb happy to answer any and all questions you have brother, and glad to connect!

Post: Newly Addicted to Biggerpockets!

David PerePosted
  • Rental Property Investor
  • Springfield, MO
  • Posts 1,091
  • Votes 890
Originally posted by @Taylor L.:

Welcome to BP! Check out @David Pere's Military to Millionaire content. Great for service members looking to break into real estate.

Thanks for the shoutout brother!

Happy to help Sean, I'm from Little Rock originally, so we have some stuff in common too! 

Post: Advertise for Military Tenants

David PerePosted
  • Rental Property Investor
  • Springfield, MO
  • Posts 1,091
  • Votes 890

@Chris Levarek thanks for the tag brother!

@Justin R. here is an article I wrote for the BiggerPockets blog about pros/cons of investing near military bases: https://www.biggerpockets.com/...

That covers most of my thoughts on the "why". 

However, I would actually caution you to consult with an attorney, because depending on how you choose to advertise/discount for service members, you could end up crossing the line of fair housing laws, which isn't worth the headache, haha. I would suggest just making the place appear like somewhere vets would like to live - i.e. maybe install some grills, or a volleyball pit, some kind of "military dude" hangout areas outside would probably help draw the crowd you're looking for

Post: Creative Financing Suggestions

David PerePosted
  • Rental Property Investor
  • Springfield, MO
  • Posts 1,091
  • Votes 890

Based on the first paragraph, no. Both the FHA and VA loans are primary occupant mortgages. You must intend to personally occupy the property as your primary residence.

Post: Using VA loan and Airbnb together?

David PerePosted
  • Rental Property Investor
  • Springfield, MO
  • Posts 1,091
  • Votes 890
Originally posted by @Suzanne Mark:

Well there are/might be 2 obstacles...one the VA loan may need to be owner occupied for the life of the loan...maybe just a year. But on top of that in Orlando you'll have to check as the shortest lease term depending where you buy may be 7 months. A lot of areas don't want the weekly Tennant atmosphere. Just do your DD before you purchase:-)

 Not the life of the loan, just a reasonable amount of time (generally assumed to be one year).

Post: Veterans Live (Virtual REI Conference)

David PerePosted
  • Rental Property Investor
  • Springfield, MO
  • Posts 1,091
  • Votes 890
Join Us At Veterans (REI) Live 2021!

This is the ONLY event where other active duty and veterans

who invest in real estate will come together and share HOW they do it!

Every investor we bring WAS or IS active duty military and investing in real estate TODAY.

They're going to walk you through exactly how they do it.

All you have to do is take notes, ask questions,
and APPLY what you learn.

There's no other event like this... so if you're interested in getting into real estate, you need to be here!

Here's what you'll learn:

- Multifamily Investing

- ​Short Term Rentals

- ​VA Loan & House Hacking

- ​Lending Money & Limited Partnership

- ​Raising Money

- ​Flipping & Wholesaling

- ​Rentals & BRRR

- ​Hiring, Training, & Team Management

- ​Mindset & Building a Business

    Get your ticket to attend the Veterans REI Live Virtual Event on May 1st!

    Veterans REI

    Post: Seasoning period...va loan vs fha loan

    David PerePosted
    • Rental Property Investor
    • Springfield, MO
    • Posts 1,091
    • Votes 890

    @Ashley Cooper not at all, the "1 year rule" which isn't necessarily a hard rule, refers to how long you occupy the home with the VA loan.

    You can buy other properties immediately after buying the first one, just can't use a primary residence mortgage for it.

    Post: Looking into my first investment property. Use my equity or no?

    David PerePosted
    • Rental Property Investor
    • Springfield, MO
    • Posts 1,091
    • Votes 890

    Good afternoon @Joseph Daniel Fuller The FHA loan--much like the VA loan--is a primary residence mortgage product. You will not be able to utilize the FHA loan on an investment property.