All Forum Posts by: Jonathan Jaime Velarde

Greetings!

I've been told by a handful of investors to start my RE investing career by acquiring a 2-4plex via FHA/VA loan, live in one unit, rent the others out. After a reasonable amount of time to take out a HELOC and refinance to conventional loan and purchase another 2-4plex...and to keep doing this process until I can build up enough $$$ to pursue my goals in RE.

When I leave the military in summer 2018 I'll have roughly 20K cash and 20K in a Roth IRA (also $0 debt). I'll be living in Thousand Oaks, CA, hopefully attending UCLA with the Post 9/11 GI bill. While going to school I'll be living at parents' to save, save, save.

If any of you have been in my shoes or have any advice I'd love to hear it! 

Very Respectfully,

Jonathan Velarde

@will 

@Will Johnston

Wow, that was the best information I've received so far! 

I'm trying to get lined up with attending UCLA and helping my dad with our valet parking company in Southern California. He runs a very successful company so between that and the monthly living payments from the VA $2250ish I'll be able to sock away a good chunk of change. I do plan on living at home for a while with my significant other to save and invest until I can buy a 2-4plex (live in one unit and rent the others out). When I'm out of the Corps I'll also have about $18000 in my Roth IRA along with the 20K cash.

I think I'm just really antsy to get started, but patience is key and you gave me some great insight. My girlfriend, eventually wife, will have lots of family near St. Pete, FL, so that might also be a market I could look into after school. 

You've been a great help!

JV

GREETINGS! I am Active-Duty in the Marine Corps. 22 years old and getting out in a year to move back to Thousand Oaks, CA. Trying to learn as much as I can and save $$$$ to put towards a property once I'm back in the civilian world. If any of you are or were in my shoes I would kindly appreciate any advice! Also, those just looking to share some tips and pointers for first time investors my ears are open. I am currently stationed in Frederick, MD if anyone wants to talk real estate/investing over a beer or coffee.

Sharon Tzib Loved your advice on getting 8 properties instead for 20% down. I am 22 years old, have a year left in the Marine Corps, and will have roughly $20K cash when I return to Thousand Oaks, CA. I'm currently stationed in Frederick, MD. Would you recommend I invest in something around my home area in CA or would it make sense to get something in an area such as Houston, TX since SFR properties are significantly less expensive?? I was thinking about getting a condo in Frederick, MD and renting it out, but I don't have enough for a 20% down payment on a property that would cost $110K plus at the moment. I know my questions are pretty general, but any advice helps! JV

Kyle Grimm I'm 22 years old, active duty in the Marine Corps, and waiting to pull the trigger on a good deal that makes sense for my investing goals. Currently have about a year left in military and saving cash to place on a down payment on a deal that comes my way!!! Good luck to you! JV