All Forum Posts by: Dan Call

@Levi T.,

Thanks again.  I come down your way about once or twice a month.  Would love to link up some time and see how I maybe able to add value to your operation.

R/

Dan

@Clifton Kaderli,

Thanks for the offer, I don't have a specific deal in mind right now, but I am actively looking for deals. I am looking in Winchester, Warrenton, Culpeper, Haymarket, Gainsville, Front Royal, and Fredricksburg. (I can be much more specific, just want to stick to the topic) I am looking for SFRs and small mufti-families to hold and to fix/flip SFRs for cash. I do have capital and a couple of JV partners. Just trying to make sure that I putting the deals together correctly with JV money.

Thanks,

Dan

@Dave S.,

How did the process work out for you?  Did you have a repayment schedule with your company?

I would also like to know if you took title in severalty? I am trying to bring in a JV partner, but it looks more and more like it would be significantly easier if we used a self-directed IRA, as @Miguel Rubio mentioned.

Thanks,

Dan  

@Arthur Bates,

Welcome to the BP family.  Please let me know how I can help you and your RE endeavors.

R/

Dan

@Lawson Ott,

 Take a look at this thread.  It appears as if you might be ok to give discounts, you just have to be very careful if you are thinking about advertising.  I'd do some more research on fair housing laws and make sure you are protected from someone else coming at you claiming discrimination.  

Alternatively, you there are quite a few bases that will help fill your vacancies if your units meet their requirements.  Check the individual base's website.

Let me know if there is anyway that I can help,

R/

Dan

@Isaiah Turner,

Looks like you are planning to be around for only about 3 or so years from the time of purchase. The good news is that you only have to stay in the 4plex for 1 year after your purchase. However, just make sure you know what your exit strategy is going to be. As I mentioned before, if you want to use your full VA benefits on your primary residence in Huston, you will have to refi your 4plex into another type of loan, sell it, or have another vet come in and assume the existing loan. Either way, plan for your exit and your next move to make sure that you have resources in place to pull the trigger!

Let me know how I can help.

R/

Dan

@Levi T.

Thanks for the recommendation.  Looks like they even have a rep here in Warrenton near me.

I know that you are very active in this area, have you used a JV partner that wanted to bring cash through a 401K?

R/

Dan

@Isaiah Turner,

The first question that I have is:  How long to you expect to stay in the area?  I know you have 21 months left until you are able to get out, but what is the plan for after that happens?  Do you have employment in the area already lined up?

Do the numbers only work while you occupy the property?  Or do they work without you being in the building? Might be worth using another type of loan, if you can swing it. (Depending on your answers to the other questions)

If you are going to move out of the place as soon as you leave the military, then you may have your VA benifits tied up while you and your family are looking for a primary residence elsewhere. You maybe able to refinance out of the VA loan at a later date. (Just food for thought) Either way, do your due diligence and pull the trigger if the numbers work for you.

Let me know if there is anyway that I can help.

R/

Dan

@Steven Harmon,

Nice to meet another vet on the site!  I would love a CPA recommendation from somebody out that way.  I am around the Ashburn are frequently.  

Are you an investor as well as an agent?

@Dave S., 

Thanks for your response. My JV partner is still with the same company that he has the 401k with, but will be retired within the year and is starting his own company.

Have you used your own 401K to invest in real estate?  If so, what type of interest rate was associated with your withdrawal?

Thanks,

Dan