All Forum Posts by: Erwin Miciano

Just closed today. Havent ran into any problems...yet.

Crossed Fingers!

I've looked briefly into doing this. There are some rules to it, but from when I looked at this strategy for a down payment it seemed pretty viable. Taking a loan against your self does not affect your DTI ratio because of the fact that you are borrowing against what is yours. It does put the amount of the loan on pause in your TSP and until its paid off. You also have to pay your self the interest rate of what the G fund is going for.

Looking at all of this, if you do have a nice of chunk of change in your tsp, it could prove to be resourceful.

The Wealthy Gardener: Lessons on Prosperity Between Father and Son by John Soforic

Never Split the Difference by Chris Voss

Richest Man in Babylon by George S. Clason

Meet Kevin on Youtube

Those are a few to start with. Keep learning!

@Nijha London If your husband is familiar or from the area you are looking in, start with an agent. Shopping for agents will help you identify a property then from there you could narrow your research on financing your property. Try to stay within the investor groups and niches, that way you're more in the loop rather than the average buyer who's looking for their dream home. Recommendations go a long way when you find the right agent.

Good Luck!

Dont be afraid to offer the numbers that works for you! If it works, IT WORKS.

If you want to lowball and try to get a little extra, understand the other party's position. If anything, they dont take your offer or even better, they counter offer.

Start the conversation and get the ball rolling!

Hey @Thomas Mackay

Like you im still in my early 20's. I dont know what your local area is like but you're making a good decisions from here on out. With townhouses, I agree with @Daniel Haberkost. You're going to need to know if your comfortable with the parameters of what you're actually buying.

As for advice, do as much research in your local area. Get with the experts and talk with them.

Get familiar with filtering out your results and crunching the numbers.

Good Luck!

Hey guys,

My wife and I are closing on our first triplex today. After inspections, notice to vacate and a few pop ins, the current tenants know who we are as the landlords.

We wanted to write each unit a letter of the landlord change and update information in terms of payment. What do you think are other parts we can cover shortly in our little courtesy letter?

Thanks.

What locations are you currently looking at?

I agree with @Kenneth Donaghy on investors thinking creatively when it comes to house hacking.

Fortunately for you as a service member, if you can house hack successfully you can pocket more on BAH while also building your equity in a hot market.

Closing today on a triplex near North Park with VA.

Take advantage of the no down payment on the first time use, recently changed in Jan. It will allow you to borrow higher than FHA County Loan Limits without having to pay 25% down on the amount over limits. As long as the numbers work, you can get your foot into a lot of great multifamily deals.

Hey BP people,

My name is Erwin, born and raised in Glendale, California. I have my beautiful wife and soon to be daughter at the beginning of next year. I was recently stationed in Japan while active duty and throughout my last deployment I committed myself to listening and reading as much as I can on self development, long distance real estate, healthy marriage, and overall life success achievement. Now that I am in San Diego, the goal is to achieve with my wife financial independence so that we could chase more.

As far as occupation, I work mainly in public affairs while also being savvy in photography and digital design. I’m starting a new career path in financial services to become a financial counselor.

So far my family is looking at options of either purchasing out of state WA deals, buying in-state Orange County flips, or expensive duplexes right here in San Diego.

I am excited to see who I meet with and who I will be working with.