All Forum Posts by: Zachary Resendez

Next major milestone reached and new problems abound. I've managed to find a property, make and offer, and start the 30 day process which is great and also somewhat bad. Reason being due to some miscommunication about my active duty status I have now essentially given myself a deadline to have a job offer lined up before the 30 days are out for proof of income for when my active duty orders end and I switch back to regular National Guard. Thankfully I was already in the process of doing this since I needed one anyway, I just don't have until I graduate this school anymore.

 I'm not entirely sure how many people will see this or if I should maybe create a new post all together, but I would greatly appreciate any recommendations for a job in Birmingham AL. I'm an officer in the Army and come from an economics background and with being in the Guard will be able to work for typically 3 out of the 4 weeks of every month after accounting for my military commitment. 

As far as the house goes, next steps are signing all this paperwork, getting it inspected, proof of income, and so on and so forth. I must say, Veteran's United's system is, thankfully, very intuitive and is greatly working to streamline this whole process.

Cleared the first hurdle on acquiring a loan. Preapproved for up to 400k but now the next hurdle has already come into play. MLS only came up with 18 properties that fit my criteria, two of which I can't use the VA loan on unfortunately. Is there a forum for connecting with wholesale dealers or the like in and around Birmingham or should I be contacting other realtors to see what they have available? Obviously their MLS search will just bring up the same thing but do realtor's keep separate inventories off the MLS?

Next step is definitely learning all the ways I can increase my options available. Only a fifth of the way to 100 to even find one but just wanted to update anyone following this, as well as have a record for myself. Also I appreciate all the advice I've received. It has greatly helped to plot a path for my research into multi-family properties.

 Thank you and I'd love to meet up when I'm back in Birmingham. Currently down south for training but will be moving back there in a few months. I actually just picked up " The Multifamily Millionaire," but I'll definitely have to check that one out as well. Learning all I can and thankfully have Veteran's United helping me out as well and I have to say, it feels really good to even just be getting the process started, despite being inundated with info. I can't wait to see where this path takes me and as far as meeting up I suppose I'll DM you the next time I'm up there or when I move back. Whichever comes first. 

I believe I do at least while I'm on active duty orders for the income and credit score. I'm also planning to use the VA loan which has it's pros and cons but I feel is the best option initially, and a way to get the most out of my time in the Army.

After reviewing and taking into consideration the advice @Alex Breshears gave I've come to the conclusion that what I want for my first property is a Owner-occupied multi-family long-term rental property for when I get out of this training. That's the short term goal of course as I will need a place to live, while the long term goal is to to scale my portfolio in the Birmingham, and other, areas to generate enough cash flow to afford me time freedom. 

I appreciate the advice and I'll be sure to post progress as I'm sure that'd be a great way to keep me focused as well though is there a specific place to post stuff like that or should I just post it in this forum?

Thank you for the in-depth response it was very insightful. My knee-jerk response is to agree with the example you gave. Having the time freedom to do what I want, when I want, military permitting. 

I hadn't thought about breaking down the types of investing into categories like that in order to better direct my attention so I'll be going back to the drawing board and using your advice as a spring board to figure out what truly fits me best. Thank you again for taking the time.

I'm exceedingly excited to join this community and learn all I can. Unfortunately, I find myself already a bit overwhelmed. My initial goal is to learn what I can in order to set the ground work for making my first investment in the next 90 days. Looking around the site and education tabs doesn't seem to have a very clear cut path of where to begin. I find myself seeing advice like, "let my Realtors and property managers know what I’m looking for," which is great advice if I had realtors and property managers. It seems like I've skipped a step somewhere or missed a link? Would greatly appreciate any advice or recommendations on the order of things for one trying to pursue multi-family rental properties in order to generate cash flow. 

Thank you for your time.