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All Forum Posts by: Aaron T.

Aaron T. has started 43 posts and replied 757 times.

Post: Taking Property Subject To in Puerto Rico

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

Just be careful of the Heirs laws there. it can quickly turn into a huge mess.

Post: Veteran seeking to invest. How have you done it?!

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

Use your VA loan to buy a 2-4 unit property for nothing down. Live in one unit for free. Use your income to save for the next property. wash, rinse, repeat. never pay for a place to live ever again.

we use the above method. We also use short term rentals as our guests, not long term tenants. 

Post: Add Puerto Rico to Market Place

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272
Originally posted by @Mindy Jensen:

Thanks @Aaron T. This is a fine place to suggest a change. You can also email our support team at support biggerpockets.com with suggestions or for help with anything regarding the site.

 Thanks Mindy. Email sent. thanks for the pro tip.

Post: Newbie: Lots of rentals available in Tampa

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

Tampa market is hot. if you have vacancy, then you are doing it wrong. Just be aware of the movement of people not paying rent and evictions. 

Post: House Hack for 6 Months

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

you can buy up to a 4-unit with a VA loan. like any other VA loan you have to occupy at least one unit. I tell all my soldiers to buy a 2-4 unit with the VA loan and live for free. Use that money you are not paying rent and stack it up in savings.

Post: Add Puerto Rico to Market Place

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272
Originally posted by @Adam Tafel:

@Aaron T. - I'd love to buy on Vieques someday, thoughts? 

that is a beautiful island, so is Culebra. Anywhere on the island is beautiful. it just depends on what your goal is for the property. Just know going into it, that everything is 10x as hard to do as it is on the mainland, especially with COVID. it takes half a day to wait in lines at Home Depot. God forbid you have to make two trips.  

Post: Add Puerto Rico to Market Place

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

Admin, can you Add Puerto Rico as a location in market place. I am not sure where else to add this request. 

@Brandon Turner 

Post: Puerto Rico Real estate

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

We just closed on a beach villa on the west side. COVID made everything twice as hard as it normally is down there. We will return in a couple months and finish furnishing it for a bnb rental. 

Post: New To Real Estate, My Introduction

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272

Luis, where is your sisters house in PR?

Post: Active Duty Military - Rent/Sell? Brandon FL

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 906
  • Votes 272
Originally posted by @Kevin Mika:

Did you buy this property using your VA benefits? If so once you move are you planning on using the VA to buy the property? You can only have one at a time. That being said you could you could refi the loan at cash value and gain a smaller monthly payment putting more cash flow in your pocket. I would personally hold the property. If you need help with management of your property while your away I can handle that for you also.

Kevin, this is not true, you can have multiple VA loans. I believed they also lifted the eligibility cap this year, so you are not restricted on how much you can spend on the next VA loan.