All Forum Posts by: Donald Miller

Just a comment on the Garbage disposals. I've been a facilities Technician for 20 years and people throw full plates of food and coffee grounds, rice spaghetti and everything else down those things. I like the idea of supplying one but I wouldn't be surprised when they fill the pipe with rice that a snake won't fix. I've never had a problem when I rented or rented out my SFR. Just at work. They also have a reset button on the bottom that most some people don't seem to know about if they get jammed. Also an allen slot on the bottom can unjam it.

Ok. thank you all..

ok thank you, can you give me a name? Thanks

ok, great, thank you :o)

Can anyone point me to a real estate salesman here in Henderson or Las vegas that would be willing to help me locate properties on the lower price scale. I have asked real estate sales people but they don't seem very interested. I'm guessing it's because their commission is lower. I'm looking for under 150k and really looking for 130k or less. I'm pre-approved for 150k. Looking to buy a rental. 

Thanks

Don

Hey Edward. I use my VA loan as well. Have family in Merlin. Love it there. I've used my V.A. loan twice. This second time I used it they waved the % fee since I have a 10% disability which was nice as well. Anyway, using your loan you'll have to live in the place and they do put quite a few restrictions on the condition. A real estate agent can help you with that. I still was able to buy a fixer upper but not an extreme fixer upper. Using it to house hack would work as for flipping, I believe (I'm not a mortgage person) you have to live in it for at least a year as primary residence. I'm sure someone will correct me if I'm wrong, but if you hold it for two years you don't have to pay the capital gains tax if you've been living in it as your primary residence.

Yes Mr. Lehman, moving into the new place would be ok. Thank you for the response.

Thank you for the response

Hello, I'm a newbie. I purchased a fixer upper sfr in Oct 2016 with a V.A. loan (living in it). Basically walked into it with very little down. I'm super handy and can fix all the issues no problem. I've been looking into buying a rental property as well, but the thought keeps occurring to make this a rental. I like the idea of using my V.A. since it cost me little out of pocket. This house was a rental before which is why it's in such bad shape. I was wondering what it would take to refinance it out of the V.A. to free up the V.A loan to re-use on a different property. How long would I have to hold it before I refinanced? I have a lot of work to do before I could rent it anyway so waiting isn't a big deal. I figured it was at least a year. Am I correct in my thoughts that it has to appraise higher or at least the current loan value? What other criteria do they look at?

Thank you for your help. :o)

Don

I think it would depend on funding and how knowledgeable you are. I've only had one SFR rental so far but I'm kind of starting over and I personally wouldn't jump into anything over a 4 plex unless I already knew what I was I doing and had a whole lot of funding behind me. But I tend to default to safety. I have family in Grants pass and almost bought a home in Medford. I love that area.