Updated over 10 years ago on . Most recent reply
New to Real Estate from Boise ID
Hello BP community, my name is Jabari Brooks. I am Active Duty Military and Small Business Owner. I came across BP from Brandon Turner’s “The Book on Investing in Real Estate with no (and low) Money Down”. The strategies discussed in that book opened my eyes to a world of opportunities and has really gotten me excited about learning more and putting it into action.
My experience in real estate is very limited and includes 2 primary residence purchases (the first being a short sale in 2011, what an experience!) and the sale of the first of those properties.
My goal is to use real estate as the vehicle that helps me live a life of freedom (time and finances). I have envisioned myself owning an apartment complex with 64+ units and the potential excites me. Most of all, I want to be great at something. I want to be able to learn and pass on knowledge, be an example to my children, to create a legacy to pass on for generations, and to have fun in the process.
Most Popular Reply
hi @Jabari Brooks welcome to BP! Your desire to learn and be an example and pass down a legacy to your posterity resonates with me strongly, as that is my plan as well.
My husband is in the Coast Guard and we're in the process of purchasing our first property with the VA Loan in Oakland, CA. We're buying a two unit, living in the smaller of the two, and renting out the other larger unit. When we PCS in summer '16, we'll rent out the unit we're currently living in and then look to buy another multi unit wherever we move next, probably with an FHA loan since it only requires 3.5% down and one year owner occupancy.
Lenders and real estate agents are often misinformed about the VA Loan requirements and loan caps so do your research before using it as an investment tool; I've been told multiple times you can't buy a multi-unit or that the cap is $417K in every situation but that is wholly untrue! Persistence and research pays off. Hopefully we'll close in two weeks as planned!
Best of luck to you :)