Oak Harbor, WA · Member since 2015 · 11 posts · 5 votes
Hello!!!
My name is Deanna and I just left the Navy 6 months ago and married my husband not long after. I desire to spend a lot of time with him and a regular 9-5 job gets in the way of that. I also want a bigger wedding ceremony for our 3 year anniversary in Key West Florida. Real Estate can get me there along with my determination and due diligence. We will be in San Diego area until next May and before we move from here to Washington State I want to have made at least one REI deal by then. I will need your guys' help. Thank you for reading. Hope to hear from you al.
@Deanna Coutts - Welcome to BP and here's looking forward to you joining us in the Puget Sound real estate investor community. Can you clarify a bit what aspect of REI attracts you the most? Flipping, wholesaling, buy-hold, notes, etc?
@Deanna Coutts - Welcome to BP and here's looking forward to you joining us in the Puget Sound real estate investor community. Can you clarify a bit what aspect of REI attracts you the most? Flipping, wholesaling, buy-hold, notes, etc?
My husband and I are most interested in buy and hold multi unit family. We are also interested in flipping/wholesaling. Notes as well. We want to build a RE portfolio. Also, we will be locating to North Whidbey Island so my best assumption is that we will be focusing on properties on the island and around Mount Vernon mainly. Thank you very much for welcoming me Alex I really appreciate it.
Good for you Deanna! These goals are reachable and reasonable. I know you will have success. Welcome to BiggerPockets. The tools and the knowledge and the support you will find as a member will help you reach your goals. My name is Rubelyn. I am on the support team. Just thought I would drop you a line to say that I am happy for you, because you have made some very wise choices. I am eager to hear your successful experiences. Please, keep us posted!
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Rubelyn
Thank you Rubelyn. I certainly will! I've already signed up for the webinar. :)
My sister lives in Escondido, so I know the San Diego area. You are in a prime location to being your investing journey. If you have not already used your VA loan benefit, then there is no better market then San Diego to use it. You would be able to buy up to a 4-unit with your 0% down VA loan. Live in one and rent the other 3. When you move, your unit gets rented.
I know a very good realtor in the area if you need one.
Deanna--I absolutely agree with @Upen Patel and his advice to utilize your VA loan. I am also military and at 19 years. A lot of my peers use this loan and it is a golden key to help you get into a cheap loan. The goal is to purchase a 2-4 plex and live in one of the units for one year. After that year you can use a FHA loan which I have been told is 3.5% down. So basically when you move out of your first income property and into your next you have cashflow coming and an almost zero mortgage payment (if you buy the property correctly). I have friends that have done this several times and are past 5 properties. The only downside in my opinion is you have to live in a smaller place (temporarily) however after a few of these you can see how you will be earning a pretty good passive income. Check with a bank and learn about VA loans.---Golden Goose--
Upen is spot on utilizing the VA benefit for a multi unit would really jump start your buy/hold strategy. It would also leave free any cash on hand you have to use on a flip or wholesale deal you encounter.
First, I want to thank both you and your husband for your service and sacrifice. We wouldn't be able to do what we do if it weren't for people like the two of you.
I also want to congratulate you on taking your first few steps towards financial freedom. Real Estate can be an incredible tool and I believe you will be more than able to meet your goals if you stay determined.
Have you considered the San Diego markets at all? As others have said, it's hard to beat the market here when it comes to VA financed multi-unit properties and I definitely think it is something to strongly consider. If you are curious, I would be more than happy to speak with you regarding the different opportunities in San Diego. Please feel free to message me!
My name is Deanna and I just left the Navy 6 months ago and married my husband not long after. I desire to spend a lot of time with him and a regular 9-5 job gets in the way of that. I also want a bigger wedding ceremony for our 3 year anniversary in Key West Florida. Real Estate can get me there along with my determination and due diligence. We will be in San Diego area until next May and before we move from here to Washington State I want to have made at least one REI deal by then. I will need your guys' help. Thank you for reading. Hope to hear from you al.
HI Deanna,
If you were in the miltiary you guys both have one of the best programs available in the financing world to create wealth if used correctly, VA financing.
I am a big advocate of use of the program as a financial planning tool since its advantages are so much greater than other programs non service members have access to like FHA, conventional, and such.
@Deanna Coutts welcome and I wish you all the best on your journey. While you are in the area you and your husband might find it beneficial to attend our local REIA, the North San Diego Real Estate Investors Association. Our next meeting is tomorrow night. Hope you can make it.
@Bruce May thank you for inviting me is the address you posted the location for the event? What time does it start and end? I appreciate your invitation!!
@Bruce May thank you for inviting me is the address you posted the location for the event? What time does it start and end? I appreciate your invitation!!
Networking is from 6:00-7:00. Meeting is 7:00-9:00, somtimes 9:30.