All Forum Posts by: Jeff Martino

Got it. Will do!

Hello BP community! My primary home is currently financed with a VA mortgage (3% interest rate and roughly $250K in equity). I'm planning to keep this property and convert it into a rental property while I find a new primary residence. My problem is that the market that I'm moving into is hyper-competitive and most sellers won't consider an offer with VA financing compared to the conventional and cash buyers also at the table.

I'm thinking about opening an HELOC to access that equity and combine it with my cash on hand so that I can make my offer more competitive. The plan would be to then refinance into a VA loan after closing and pay back the HELOC asap. I still have plenty of entitlement remaining for the VA loan so that shouldn't be an issue. I know I'd be running the risk that the house doesn't appraise to the full purchase price or pass VA inspection. Are there any other risks that I should be considering? Also, does a seasoning period apply to the refinance like it would for a BRRRR deal? Thank you in advance. I really appreciate any insight.

There is some awesome info here. Thank you everyone for the responses!! Will work on getting a call list together for my tenants. 

I'm searching for a multifamily property to househack at the moment and this is a question that's been on my mind. I see the benefits of managing your own properties at least in the beginning of your investing journey - learn a lot, save money, build handyman connections, etc. I would like to manage my own units if possible. However, in my free-time, I really enjoy going on trips with my family in the mountains where there isn't always cellular service. I know there is some aspect of "always being on-call" when you manage on your own properties, but is there anyway to have the best of both worlds? The best solution I have currently is creating a Google Voice call-forwarding system that would forward issues to a designated person that I know will be free (i.e. a willing family member like my dad). Any advice on systems that you all set up at the beginning of your journey would be extremely helpful. Thank you in advance!!

Interesting. Thank you for the response anyway @Benjamin. I'll keep that in mind for future primary residence. 

Thank you for the response. Definitely sounds a lot more hands-on than I was imagining. The property should go to someone who needs the space for their own horses. 

I'm looking a property on several acres with an established horse stable for 2 horses. The listing says there's also an "Arena, Paddocks, Pasture, Tack Room" in addition to the stable. If you can't tell, I don't know anything about horses. However, I do know the property is in an area where people are interested in horses. The property is also zoned AG, Residential. Does anyone have any experience renting out stable space and land to horse owners?