Whats your OPM Tip?

Question

Hey all! Trying to be more active. Alot of people talk about using other people's money. I am new to the game of real estate. Since we're a community. Give your one tip of a way to use OPM and still get a return on investment. I'm a military veteran I know there is a way to use my VA Loan but still trying to figure that out.

But drop one tip. I'm sure I'm not the only one it'll help. Thanks in advance 😊

P.S.I realize the title I got OPM wrong lol

But drop one tip. I'm sure I'm not the only one it'll help. Thanks in advance 😊

P.S.I realize the title I got OPM wrong lol

Berenger Greer · Answer

Welcome and thank you for your service. One of the easiest ways to start using other people’s money as a beginner is to leverage seller financing or a private lender for part of the deal while you handle the management and value-add side. That way you’re putting in sweat equity and strategy instead of all the capital.

Since you have VA loan eligibility, you could buy a multi-family property up to four units with zero down, live in one unit, and rent the others. The rental income from those units would help cover your mortgage and you’d still be building equity. That’s a great way to use OPM because the bank is funding the purchase and your tenants are paying it off.

Personally, I'd leverage the VA loan and figure out what sort of investing you'd like to do. For the most cashflow, you should go straight to a padsplit on a single family, or a househack where you can force appreciation with a remodel. Your first one doesn't have to be a slam dunk off market fixer, but can be your primary home that you purchase under market and wait a year to use that equity for your next project.

Shameer Lorde · Answer

@Berenger Greer thank you so much for this I think my biggest hesitation is being new I do know a good amount but I don't want to make a crazy mistake you know? Is it okay if I connect with you?

Berenger Greer · Answer

Of course it's okay! I'll send you a message with my contact and we can connect when you're available.

Thanks,

Berenger.