All Forum Posts by: Chris Webb

Hi @Scout Askren, as some have said, I use CoC return as my metric. Basically, this metric tells me how hard my money is working. Look up "InvestLYH" on YouTube to see how the back-of-the-envelope calculation works. Always confirm your calculations with a Property Manager, Realtor, and Loan Officer. In my area there are some fine rentals right out of the MLS, however, if you can add value, it will increase your yield tremendously.

Hi @Kelley Ogletree, I would suggest getting a buy box and learning what you can about a particular market. @Dion McNeeley has an excellent channel you can watch on YouTube and he is very open in what he shares, especially when it comes to what he invested in and what income he receives now off of investments. Additionally, @Michael Zuber has a channel (One Rental at a Time) that you could watch regularly where he interviews several millionaires from all walks of life. 

Hi @Justin Lanciault, @Alex Breshears, and @Alex Boeger, thank you all for the comments, I have only heard good things about Navy Fed, it is good to balance out all the love with some actual experiences. I thought they were good options and wanted to see what people's experiences were. 

Hi @Kayla Utley, thanks for the reply on where you get the income. 

What type of units are they? How did you come about your income? I get a 21% CoC return using your income number at a 7.5% interest rate and accounting for vacancy and repairs at 5%.

I have noticed that Navy Fed has some interesting loan products. One is a 15% down investment loan. Has anyone ever used this? Another is Vet specific - a 0% NON_VA home loan for owner ocs. It has a higher interest rate, but is 0% down and rolls funding fees into the loan. Has anyone ever used this? Just curious about the company and the products. Thanks!

Investment Loans

NON-VA Home Loan 0% down.

Hi @Seth Baumgartner, it is common for people to think you can only have one VA home loan, but it is not true. You have an entitlement amount and if your first home does not fulfill the entitlement amount, you can have a second VA home loan. There are some circumstances that you must meet. For me, I moved out of state. I moved again and now I have two rentals on VA home loans. You have to live in the property for at least one year, but I would argue it is worth it. If you need a lender let me know, my guy was great and I used him several times in the past.

Hi @Jacqulyn Morton, I am a little weird. I like to buy flips that are completely renovated, especially if they have been on the market for a little while. Generally, they will not need work for a while and I fill up my CapX and Repairs budgets out of rent. Why put my cash at risk when I just allocate it from the rent, right? I also Owner Finance every year, in fact, I am looking right now in Central Virginia. 

Timely post as my friend just started at UT, which would be my first answer. I briefly looked at multi-fam today and found one that she could house hack on the MLS.