All Forum Posts by: Filip Vaco

Hi everyone! 

I understand that this might be a stupid question, but could please somebody explain to me what exactly refinancing is?

I hear that term a lot and even after my initial little search I'm still having trouble fully understanding it. 

I appreciate your help and time.

Filip Vaco

Thank you all for your help. This means a lot to me and it's greatly appreciated :)

@Brian Adams definitely, if you could send me some fourplex options that would be great! I've decided that that's definitely what I'm going to invest in.

One more thing about the VA loan. Does it cover only the actual price of the property? Or could I add additional expenses to it concerning the rehab cost. And how much should I spend on renovating the property? It will be the 3 units as in the one I'll be living in, I wouldn't care much of its condition... if I manage to find fourplex.

I'll have that $10,000 for backup, in case of vacancy and other expenses, and I want to know how much I can dip into it.

@Jeremy Davis I don't think so... Infantry leads the way! ;)

Now as mentioned before, the VA loan must be used for your primary residence right? I'm little be concern that my paycheck as a single enlisted won't be able to support that big of an investment, in the begging... but I need to do more of that math stuff. Living in one unit, and renting out the other 3 can be great investment I think.

Hmm.. could you please explain to me more about bidding on VA owned homes? How do I know it's VA owned.. you mean like foreclosures?

@Brian Whitten Thanks a lot! I'm definitely looking more into the VA loan.

@Raymond B. Thanks, I think I got it! One more step in getting to use this forum better :)

@Rod Wiggins Yes Rod, I was considering the VA loan. But to my knowledge I think I can use it only after I'm done serving. And there are many military families near my base, Fort Hood, TX. However, Killeen area is little be more on the "ghetto" side so I'm not quite sure If I really want to buy and hold there.. maybe more towards the Austin area. But then again, I'm sure there are nice neighborhoods in that area as well..

1. @Paul Timmins thanks, that actually helps a whole lot.

I already downloaded those two books and I'm looking forward to them, I have a long list of books to read though. And I've listened several shows on the podacst. That's actually how I found BP, I was looking for REI podcast.

And that's a good idea, student housing. There is a college near by and I think I can really use the buy and hold in that area to make better profit. Would you have any references to landlording?

Hi everyone, my name is Filip and I'm pretty new to the real estate investing world.

I'm currently in Afghanistan and planning to expand my knowledge on real estate investing while I'm in here, so once I get back from deployment, I can put my saved up money to good use ;) And I hope that BP can help me achieve that!

My goal in real estate investing is to build a long term wealth by buying and renting out properties. I should have about $10,000 to invest once I get back.

The question I have, is that amount enough to start achieving my goal? I was also thinking of using this money to start wholesaling or other forms of dealing that would increase my capital so I can further support my goal. And I want to know in which area should I focus in attaining my knowledge while in here so I know what I'm doing once I get back.

As I mentioned, I'm pretty new to this.. and any form of help and advice would be greatly appreciated :)

And also, if there are any active duty military members or vets that could help me by explaining what advantages I have as a member of the armed forces when in comes to real estate investing, would be greatly appreciated.

Filip Vaco