All Forum Posts by: Hamp Lee III

Welcome to BiggerPockets!

Congrats on taking your first steps!

Are you sure you want to carry a house for three years without cash flowing? 

Are there other properties in your target area that will cash flow right after rehab?

I wish you all the best.

Welcome to BiggerPockets!

Congrats on using your VA loan benefit. I'm active duty Air Force.

I recommend speaking with a property manager to find out what you potentially rent your home for. And though a STR is a possibility, you would want to know the house can cashflow as a LTR first in case the STR doesn't work out.

You can use tools like the AirBnB estimator in the Tools section here to get an idea of what your home could go for. There are other sites to get this data as well, like Mashvisor and Awning, but these two just two of many.

After you get your numbers, you’ll have a better idea of the route to take. Real estate investing is a numbers game.

I wish you all the best.

There are opportunities for success with SFHs in San Antonio.

I would love to discuss further on a call.

I wish you all the best.

Welcome to BiggerPockets!

I recommend maximizing your VA loan benefit. I'm active duty Air Force and have three VA loans.

If you're getting out within the next 12 months, you may need proof of employment to purchase a home, but a lender (@Joel Allen) can provide better details than I can.

I wish you all the best.

Have you thought about a blanket mortgage?

I thought about using this for my properties, but the numbers were a little short.

Here's some info on it: https://www.thebalancemoney.co...

I wish you all the best.

Welcome to BiggerPockets!

Awesome to hear about your start in real estate investing and finding a great agent.

I wish you all the best as you get started.

Welcome to BiggerPockets!

For me, the main factor is finding a great multifamily to start or a home with an ADU/casita in the back.

It is feasible, but you also need to factor your exit strategy as your family grows. 

Is this a property you want to live in for several years?

What happens when the kids are school-age? Is where you're living have good schools?

Does your family mind moving multiple times over several years?

I think these questions are a great start in considering house hacking.

I hope this helps.

I wish you all the best.

For me, I formed an LLC with my partners. I wanted to ensure we outlined our roles and potentially reduce any personal liability should something go "south." I had our operating agreement reviewed by a lawyer to ensure the verbiage was good.

This is what worked for me.

I hope this helps. 

I wish you all the best.

Welcome to BiggerPockets!

For investment property, check out a DSCR loan.

For owner-occupied, look for through NACA (0% down) or an FHA (3.5-5% down) loan.

I hope this helps.

I wish you all the best.

Welcome to BiggerPockets!

I wish you all the best as you start your real estate investing journey.