All Forum Posts by: Bill Fallesen

Thanks Cody, I also have thought about house hacking but so far finding a duplex in my area has proved elusive. My thought was to use either my VA benefits or FHA to get into it with a lesser down payment.

Hi Alejandro, I used the Rental Property calculator here on BiggerPockets. It is very easy to use, I encourage you to evaluate a lot of properties and buy the best deal. Do your due diligence when inputting things like what your insurance and other expenses would be as mistakes here could lead you to a deal that's not as good as you thought. Study and then do, that's how I got over paralysis. My agent was surprised at the knowledge that I had obtained here and that gave me the confidence to get started. 

Thanks RC, we will update as time goes by!

Thank you Cole! This is a great club to be a part of!

Thanks Jasmine! I assume that you are looking into the Norfolk Virginia area! I wish you much luck! I live in Norfolk Nebraska which is much smaller, about 25,000 but is growing. There is a lot of potential in both of our areas!

Yes, this is in Neligh, Nebraska, a very small rural town about 30 minutes west of Norfolk, NE. It's a nice friendly town that is the county seat of Antelope County.

@Tony Hightower Thanks! Was recently down to Chattanooga to visit my son! Your area is indeed beautiful! Much success to you also!

Hi everyone! My wife and I just closed on July 22nd and now have our first real estate investment! We purchased a duplex and triplex that sold for $159,500 with a commercial loan. After negotiating, the previous owner made repairs to bring 2 of the units to rent ready condition and credited $4,500 at closing. The other 3 units are rented at below market worth so will have to make increases in the rent amounts. Already we are getting inquiries from our listings. When we have these properties fully rented at proper market value, our cashflow will be $540 per month. One basement apartment can bring in more money once it is upgraded from a studio to a 2 bedroom by putting in egress windows. We are excited to be landlords and have been learning very much from the blogs, forums and webinars here on BiggerPockets. The education from this site is invaluable! 

Fear of failure, I'm 63, retired due to arthritis, on SS, a little money tied up in IRA, read "Rich Dad Poor Dad 3 months ago and found Biggerpockets 1 1/2 months ago. I live in NE Nebraska in the largest town in the area and want to stay here. Most of the best deals that I've found are not close by but are down in Omaha. I want to house jack a multi with a VA loan to start and get experience being a landlord but there's nothing local. If I use my IRA then I face having to pay the taxes.

Hi, am considering using a VA loan to house hack my first Real Estate Investment. I've been in touch with Veterans First Mortgage, trade name of Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A., a Wintrust Community Bank. Has anyone had any experience with them?