All Forum Posts by: Account Closed

@Doug McVinua

Thank you for the insight and encouragement sir, I know they say the first step is the hardest and I’m feeling that right now ahah. But I will most definitely take advantage of these benefits while it is my primary!

@Daniel C.

This is great, I may pursue with using Navy Federals 80% since I currently bank with them if i do decide to use the HELOC!

@Doug Spence Thank you so much for this info, ill take to other forums to see if there are people willing to help in my local area. I've gone to one local meet up that was geared more to wholesaling in which they did grant some knowledge but i don't think i was quite prepared at the time. I was just a sponge taking in the information. Your information rings very true. Find partners

@Jeff Shumway

So yes I definitely agree it would be hard to make sense of this move if we were to continue as the multi family being a primary home. And frankly my lady and I don’t necessarily want to move into a multi family but we are willing to if we had to.

We do plan on renting this home out if we were to move out for sure.

My thing is if we were to cash out refinance this home our monthly payments would go up correct? Which if we were to stay in this home we could make that work but if we were to cash out and rent out I feel like that would drastically decrease our potential cash flow. (When we bought the house we didn't know anything about the BRRRR method).

So that leads us to private lending I take it ?

@Jonathan Klemm

Thank you for your insight, I'm located in central California near NAS Lemoore. I do like the option of refinancing out of the VA loan to open up those funds again. I do plan on purchasing another next year that's for sure so immediately there's no rush! There's a few individuals here that I personally know that are involved in the BP community but nothing that big just yet. I will continue to reach out for more information. This next step is just a crazy one there's so much information that I try to ingest daily but sheesh!

Hey all, been a fly on the wall here for a little bit.

like the title describes I've been living in my primary residence for a little over a year now. Purchased at 260k using VA loan. Refinanced to a 2.3 interest rate. Our home is now worth about 365k after we put in about 35k in renovations.

How should I proceed with purchasing another property in my immediate area ? If we wanted to reuse VA loan on another primary house my lender suggests it would be difficult for the underwriters to grasp moving into a multi family after owning a larger property less than 10 miles away.

So that leads me into going in as investment property

What would be the best way for funding heloc? Or cash out? I don’t really know how to find private lenders yet. ( also what do you guys use to show your lenders where their funds will be going)

I know I’m everywhere on this post but definitely need some insight