All Forum Posts by: Erich Brown

Hello everyone, my wife and I just moved to the area and we are looking to connect with like minded people. Could we please get the information for the next meeting?! Looking forward to the next meet up!

@Scott Schuetz - are you still hosting the monthly meet up?

Hi @Nathan Maier, I have a couple of good recommendations for you! Jon Lallande from CrossCountry Mortgage has some amazing incentives for military and same with Andrew Schroers from the lehman group. The STR income wouldn't count toward the DTI, but the projected market rent will. (So that will help a little) Let me know if you would like to talk strategy! 🤙🏻

@LaMarr Valentine welcome to BiggerPockets! Seems like you have a decent plan to start with. Wholesaling is a great way to get started but is ver competitive here in SD. Another idea is to get your license, larger target audience and you could potentially help your friends that are in the service with referrals. Let’s connect and chat some time! 🤙🏻

@Luke Edwards

Hi Luke! First off, welcome and good luck with the adventure! There are a couple of issues you might have with your plan:

1. I believe the VA requires you to have 1 year left in your commitment if you are purchasing while you're still in. Not 100% sure about that, but have heard of something happening to another marine recently.

2. As an agent, it will be harder for you to get a loan because you need to show you have two years of taxable income compared to a regular job.

I would max the VA loan out too because once you use it one time there is a cap on it if you try to use it again. Unless you refinance out to a conventional, but be careful with this because you are only allowed to do this once before the VA says no more.

Let me know if there is any way I can help and good luck!

@Bradford Reller

Hey Bradford, I think we met at the meet up in Carlsbad last month? I’d be happy to help, shoot me a message.

@Arianna Crawford

Like many of the others said before, it depends on the goals for your property. Based on the pictures and your statements, im guessing this is a PCS? If so, there are a couple of things to consider:

1. You have used some of your entitlement here in San Diego so your lower purchase power might require you to pay to close in the new location.

2. Is there cash flow? If so, would it make more sense to move the equity into another property (or two) so that you have more cash flow? This will also free up the entirety of your VA loan benefits to purchase a 2 to 4 unit property in the new location.

@Benjamin Hewitt

Hi Benjamin! There are several amazing meetups here in San Diego where you can talk to people who are in various investing ventures. Starting with a plan and understanding the ins and outs of the tools you have at your disposal (I.e. the VA Loan) is also critical. I definitely wish I did more research before I used it the first time.

Hi @Mel! My wife and I are in the process of purchasing another property OOS. Our lender lives here in OB, but I know several good lenders that could possibly you.

@Donald E Appleberry, what time and day? Thank you!