New member from greater Metro Detroit area!

New member from greater Metro Detroit area!

New Baltimore, MI · Member since 2014 · 2 posts · 2 votes

Good afternoon everyone, my name is Zachary (I prefer Zach) Mutart and I'm extremely interested in real estate investing! 

A little about me: I'm currently serving in the Marine Corps and am about to embark on my 3rd and final deployment before separating in August of next year, 2015. I've had the pleasure of being stationed and living in two beautiful states, Virginia and Hawai'i, over my 4+ years of service. I've also visited 15+ countries all over the world ranging from Southeast Asia to the Middle East to Eastern Europe, some of my favorites being Lebanon, Kazakhstan, Italy, and Thailand. Kuwait was probably my least favorite (It's what I imagined living on Mars to be like). Even after all of that traveling though, I do plan to move back to my beautiful home state of Michigan! I have a wife, Leah, the cutest little pitbull/shar pei mix, and a baby boy on the way, due April 28th!

Okay, enough about me.

Why I'm here: Fortunately, thanks to the Worldwide Web, no matter where I've been on my endeavors, I've always got a means of researching. Even more fortunately for me, I happened to stumble upon 'everyone interested in real estate investment's biggest asset, BiggerPockets! 

I remember a speech from my Sergeant Major (most senior enlisted Marine in my battalion) once and he talked about the rare opportunity we had as service members to "own a home for free." I won't bore you to death with the details of his speech and how he was successful in becoming a homeowner with zero of his own money (especially because I'm sure there are a LOT of investors on this site who have done so themselves), but I just remember the impact that speech had on me, because prior to that I was clueless to the opportunities. And thus, my new found passion for real estate (after an abundance of research, of course)!

My goals for the next 6 months (over the course of my deployment) are listed below:

  • Network, Network, Network. Clearly an important step in becoming successful in ANY business.
  • Educate myself on the VA Home Loan guarantee and how it can be a great asset for my investing.
  • Learn more about House Hacking. Research multiple family houses and duplexes in my area.
  • Complete my real estate pre-licensure coursework. From my research, it seems like a fairly cheap and easy process in Michigan that I feel would be another asset in real estate investing.

Thank you so much for reading everyone, and happy investing -- from the sunshine and beaches of Hawai'i!

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  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    11y

    @Zachary Mutart 

    welcome to the site.

  • Brett SynickyPro Member
    Solo 401k and SDIRA Consultant · Orange, CA · Member since 2013 · 873 posts · 497 votes
    11y

    Hi @Zachary Mutart 

    You’re going to love this site! I’ve learned more about real estate investing since I joined BP than I did my entire life before that.

    I highly recommend the podcasts:

    http://www.biggerpockets.com/podcast

    Also be sure to visit this page:

    http://www.biggerpockets.com/starthere

    Happy networking!

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    11y

    Welcome to BP community @Zachary Mutart  It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet

    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

    Wishing you the best! 

  • Flip and Buy/Hold Investor · Rochester Hills, MI · Member since 2013 · 245 posts · 105 votes
    11y

    @Zachary Mutart 

    Zach,

    Congrats on the baby news and welcome to BP, you will learn a lot here. I recommend setting up key words alerts for topics you are interested in. That way you can get a lot of info and different viewpoints on a single subject, like VA loans.

    Good luck,

    Jon

  • Jon HuberPro Member
    Rental Property Investor · Boca Raton, FL · Member since 2014 · 1k+ posts · 713 votes
    11y

    @Zachary Mutart

    Welcome to the community! Be sure to be as active and engaging as you can. This site offers a tremendous amount of information, but only if you seek it out. Read the blogs, post your questions, and the podcasts as gold. The best free education you can get. Good luck out there.

  • Real Estate Agent · Port Huron, MI · Member since 2012 · 295 posts · 82 votes
    11y

    @Zachary Mutart 

    Welcome to BP from someone slightly north :D

    I am actually looking at expanding down into your area so keep us posted on all your success :D

  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    11y

    Welcome to Biggerpockets!!!

    It is nice to meet another military family! My husband is active duty and we have done well turning our transient lifestyle into a great investment strategy. Don't forget about your VA loan. It is a great asset. We used it to buy our first two primaries that we than rented out when we were transferred.

    We are buy and hold investors in single class A real estate, which allows us to invest while working full time! We self manage from all over the country as we invest locally and long distance. We buy foreclosures and short sales. We put as little down as possible. We get forced equity through fixing cheap fixes that turn people off (bad wall color etc) and going through the short sale process (5-15% cheaper)!

    Look forward to hearing about your successes! Don't let analysis paralysis get you! Bought our first houses 3 yeas and we now have 5 houses with another 5 houses in the plan for the next 18 months. Our first houses wasn't as great as our second deal and so forth. The key has just been to baby steps. One deal at a time!

    We have learned to adapted. Where we thought we would be 3 years ago is not where we are today. The only thing we haven't changed has been our end goal to retire off the cash flow in 15 years.

    Don't forget to check out the blogs and podcasts. Participating in the forum is a great way to network, learn and give back. Another GREAT resource is everyone's signature. MANY of us, including myself have put together a blog/website about our niche, strategy and business model. Think of them as "free" books. These are GREAT free resources too!

    Look forward to seeing you around! Please feel free to pm me if I can help! 

  • Investor · Pensacola, FL · Member since 2013 · 277 posts · 78 votes
    11y

    Hey @Zachary Mutart welcome to BP! I'm an Air Force guy myself (don't hold it against me). You'll find that there are a ton of current and former military people on the website who are more than happy to lend a hand. Feel free to send me a message if you have any questions or if there is anything I can help with.

    In the mean time, I wrote two blog posts about the VA loan and how it can be used by Real Estate Investors. Feel free to check them out on my blog (Tyler's Blog) and let me know what you think!

    Best of luck to you.

    Tyler Flagg

  • New Baltimore, MI · Member since 2014 · 2 posts · 2 votes
    11y

    @Tyler Flagg 

    I've actually read both of your blogs about the VA loan and they were both extremely helpful! I myself hate reading those federal documents and publications and you wouldn't believe how much I appreciated it broken down into short, quick synopsis. Keep 'em coming!

    @Elizabeth Colegrove 

    Thanks for the inspiration! It's great hearing success stories from others in "similar" situations as my own. I would love hearing about your continued success and also wouldn't mind hearing how you got your "feet wet" in the business, and how you took that first leap into investing!

    @Jon W. 

    I took the advice and set up the key word alerts as soon as I read your comment. Looking forward to getting some great information as a result! It's also great seeing a successful investor in the Sterling Heights area, that's not too far from where I lived my entire life before joining the service. Seems that area is booming lately, hope that means business is doing the same for you!

    Quick question if anyone cares to answer;

    I'm thinking my best bet on a first investment would be a 4 unit duplex/multi-family and live in one unit while renting the other 3 units. I've got countless more hours of research to do before I'm sure that's my bid to success but my question is more about the financing of the investment. 

    I'll be using the VA loan on that first investment because I'll be using it as my primary residence for at least that one year minimum requirement. Is there any way to apply for a 203k through a lender that will somehow fall under the VA Home Loan guarantee?

    I'm trying to not sound completely oblivious and ignorant to the financing aspect of the investment but I figure it's better to ask now and learn as much as I can. My idea is to buy a duplex/multi-family that needs some rehab (but still meets VA's Minimum Property Requirements) and as far as I know, the only way to finance the rehab is through the 203k. I'm just trying to figure out if the 203k and VA loan can be coupled together, or if that's just an all around terrible idea. Any insight would be extremely helpful. Thank you in advance!

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