All Forum Posts by: William V.

@Jonathan Greene, thank you for the response. I looked up your recommendation and got it on Amazon -- looks like an eye opener. I've heard about "Rich Dad, Poor Dad" over and over and decided to finally bite the bullet just to add new insights and maybe transform my thinking.

I'm working on getting my license while deployed overseas (currently active duty military but will be leaving the service soon). I'm looking forward to OTJ training, but in the interim, I'm trying to absorb as much info as I can about the job.

Hey BP, I have scoured the internet and have not found much in the discussion of books recommended for the real estate agent profession. I see "Millionaire Real Estate Agent" by Gary Keller thrown out a lot -- which is good for strategizing one's business -- but I'm looking for books that layout Real Estate Agent 101-level information. In other words, the blueprints to what agents do, explaining the transaction process, how the industry works and varies within the brokerage, an agent's lifestyle, etc. I'm curious to what you all come up with!

I'm a U.S. Army UH-60M aviator and military instructor pilot. I've got my FAA helicopter commercial/instrument/CFI/CFII and airplane single engine commercial/instrument -- working on getting my multi-engine and airplane CFI add-ons in 2016 with the eventual goal of flying for the airlines.

For all you airline pilots, are any of you selling houses as a real estate agent when not flying? I hear of guys and gals selling houses when they are not on the road, but I would think you'd be handcuffed since you would not always be accessible to your clients. For those of you that are doing it, how do you make it work? It's an interesting prospect for additional work outside of managing my own rentals...

Tod, thanks for the tips! I'm a knowledge sponge, so I'll continue to dig around using the search function. Hopefully I'll be able to be more of a giver than a taker a few years down the line with more experience.

Ray -- you guessed right: Ft. Rucker. Cairns AAF is where the Army's equivalent to the Air Force's UPT takes place. Thank you for your service and look forward to learning from you down the line.

Sanjiv, you guessed right as well: I'm a warrant, not an RLO... I don't work for the dark side. That's very encouraging that you got your start while in the military; I know people do it, it's just far and few between. I quickly read your bio and am impressed with how you started and where you ended up now. I know the saying gets abused, but thank you for your service as well.

Hey BiggerPockets,

I've got a question which -- after hours of research -- has left me just as confused as where I started. I was hoping someone here might have some guidance as to where I could further delve into the topic of assuming VA loans.

As a quick background, I'm a 22-year old helicopter pilot with the U.S. Army and am currently stationed in Alabama. I've always been allured by real estate investment because of the strategy and challenge in it; it's by far one of the best wealth-building investments if it's done right. I just recently bought my first investment property, and needless to say -- I think I caught the real estate bug.

I realize one of my biggest benefits as a veteran is the VA loan -- 0% down, low funding fee, no PMI, and the entitlement is good up to $417,000. I've been doing a lot of research into VA loans, and something I stumbled upon was the fact that VA loans are assumable. Once I discovered this, I've been doing a lot more research into the topic. I definitely see potential for a niche investment strategy given what I do and in the proximity to where I do it -- I just have no direction in how to go about this type of investing.

Many of the homes surrounding the places I could be stationed at are bought with VA or FHA loans -- both assumable -- and could be a great way to acquire a handful of properties with little to no cash out of pocket.

How could someone like myself source a seller with a VA loan?
I realize I could advertise, but I'm such a novice, I'm wondering if there's an easier way to go about it. Ideally I'd like to find the seller versus the seller finding me at this point.

How does one structure a deal involving a loan assumption?
I'm sure it could vary from just taking the mortgage off their hands (highly unlikely, I'd imagine) to offering a cash "downpayment"/incentive, but again -- I have no idea as to how the process works. I discovered that until the property cashes out, assuming a VA loan keeps the veteran from utilizing their full benefit again. I realize this is probably the biggest setback in acquiring their property, but I'm sure there's some people willing to walk away despite this.

How does a real estate agent fit into the equation, if at all?
Would working with a real estate agent be beneficial in sourcing and/or brokering a deal? Considering the deal isn't your typical "sale," does the agent still stand to acquire a commission? If not, I guess I could count them out.

If anyone has knowledge -- or can point me to a source that explains this thoroughly, I'd really appreciate. I'm pretty tech savvy, and I've yet to stumble upon the answers thus far.

-W

Hey BiggerPockets,

This is my first post here! I've been lurking around the place for a few weeks and finally decided to jump in and contribute to the discussion.

My name is William, and I'm a 22-year old helicopter pilot with the U.S. Army. I'm currently stationed in Alabama and just bought my first to-be investment property; it's a townhouse and got it for 20% under market value from a very motivated seller. The USDA offers 100% financing on homes in the area, so I figured I'd save my VA benefits and go with USDA... 0% down is the holy grail in real estate investing, no? I just moved into the townhouse, am planning on making improvements to it over the next year, and then finally renting it out when I inevitably leave. It's a hot rental market, but it's a competitive one.

My real estate investment strategy is to pick up at least one investment property at each assignment with the primary intent of renting to other military families. I realize the associated challenges with it (e.g. property management eating up cashflow, not being in the area, etc.), but I'm trying to do this the best I can given what my job demands of me.

My next move: if I end up in a good rental market for my next duty station, I'm planning on using my VA benefit to buy a duplex, triplex, or quadruplex. I'm also very interested in assuming VA loans for investment since it seems like a great way to accumulate properties with little to no money out of pocket. I have been trying to research how to go about sourcing these deals, how to approach sellers, etc., but haven't found any good information out there about it. If anyone has a website, blog, book, or anything that could shed light on the subject area, I'd really appreciate it!

I'm glad I found this site -- the collective knowledge here at BP is incredible.

-W