All Forum Posts by: Allen C Herring

@Kai Van Leuven I see what you’re saying!

@Nathan Hall Keep in mind that the VA loan is intended to fulfill servicemembers' desire to attain the American dream of owning a home. The fact that you don't need a down payment just happens to make it a really powerful investment tool, as the traditional 25% down payment for an investment property is one of the more significant barriers to entry for RE investing. In your shoes, determine what your out of pocket each month would be. Do BAH and rents cover it? If not, are you close? How does it compare with what you'd be paying to rent a similar space?

Nathan, that's exactly why I wanted to use the VA loan to my advantage. Rents and BAH would deff cover my P.I.T.I expenses and more but I wanted to work on not having to use my BAH as a vehicle to save capital at a faster rate. I do see what you're saying and I guess I was trying to get a discounted deal with equity and cash flow. I had a 3-plex that was cash flowing $40 a month with me living in one unit at my finger tips. Also there was much room to raise rents cause they weren't capped out. I got the sellers to cut their price down a lot but the same day they were supposed to sign the contract, someone else came and offered them more. I regret it but at the same time I don't cause I learned from it. That's another pro to it as well, being that right now I'm renting and my monthly rent is going down the drain and not being put into anything returnable. I plan on using VA at every duty station I go to as well to maximize these benefits. Thank you for your support. All of these different points of views surely helped me to come up with what I think I'm going to go with.

@Andrea Hauserman WOW, thanks for the value Andrea, I will surely add these tactics to my arsenal!

@Shelby Ek Thanks for that advice and I am looking to keep this property long term and it does suck that I let this property slip through my grips but it’s a learning process and I definitely learned!

@Elliott Elkhoury Thanks for that advice Elliott!

@Frank Patalano What's holding me back right now is the lack of properties on the MLS that are 2-4 unit MF. That is what I want for my first deal and I had two deals come by and ended up getting out bid. Since the time I got out bid, there hasn't been any new MF listed. I'm now reverting to mass mailing.

@Henry Lazerow I’m tracking what your you’re getting at now Henry. Okay thank you for that key advice.

@Cody Z. I see Cody. I see how that can be an issue. That is something else to think about as you stated. Do you think it would have been better to just raise the funds from limited partners?

@Henry Lazerow Thanks for the value Henry! Do you mind explaining to me what buying on the low end of comps mean?

@Bill Plymouth awesome Bill. Again, thanks you for taking the time out to educate me.