Flipper/Rehabber · Marion, IL · Member since 2018 · 14 posts · 9 votes
Hello my name is Austin I'm currently living in Kailua, Hawaii stationed on Marine Corps base Hawaii. I have about 6 months left in Hawaii and as I transition from the Marine Corps to the civilian world i will be moving back home to Southern Illinois and I really would like to get into real estate investing. I have about 30 grand saved up and I'm looking for a starting point so I would be grateful for any advice for anyone can provide to my situation thank you and Semper fi!!!
@Austin Timothy van meadows lets grab coffee sometime! Also, I host a meetup in Kailua the first Tuesday of every month. Sept 4th 1800-2030 at Kailua united methodist church...come on out, network, and welcome to the club!
@Daniel Lehman I'll also add that if you've paid the funding fee prior to having a disability (or even filing for a rating) you can recoup the VA funding fee once you DO get a rating. That's a pretty cool benefit. Side note: I just closed on a primary in CA above $900k and I used the VA Loan mostly because the interest rate was a half point less! And you're right, that extra 3.5% funding fee would not be fun to pay - even if you did roll it into the loan.
@Eric Upchurch you got it, my friend. Another trick if you don’t have disability is that the funding fee drops to 1.5% with 5% down, and 1.25% with 10% down. So people always want to check because when people like yourself go over the limit and need a down payment anyways, I’ve seen instances where banks have funded them at 4.5% down and unnecessarily charged a way higher funding fee just because they didn’t know what they were doing.
Hey man, what is active duty passive income? Do you run a group or something? I love the concept... thanks for the response. PM me when you get time...
@Daniel Lehman thank you for the insight these are things I did not know that's a huge help and yes I will get connected with you for future questions again 5hank you and semper fi brother!!
@Rhonda Blue thank you so much and I can really relate to what you said I'm currently trying to watch every podcast and get every bit of information I can gather before I transition back into the civilian world and I'm most definitely interested I will get connected with you again thank you!