All Forum Posts by: Joshuam R.

Dress up and be confident in your attire or skin. If you want to conquer and master a real estate agent career and you and only you no out side person, deep inside you do feel like do not any longer approve your hand tattoos then laser should be the #1 option. But if you look at your hand tattoos and feel confident you will conquer your goals in real estate agent career then forget about it, go kill it and got hunting for those leads and deals. You got this.

What are your pro / cons and experience with buying commercial property using NFCU business commercial property loans?

Some one mentioned that how come I was not putting in down payment that gives you more equity on the property.

Short answers only go!

Thank you @Caroline Gerardo for your word. I apologize for my lack of knowledge, what are we referring to entitlement on the second deal? To be fair let me try to summarize my current position, maybe it can shed light to something I may be overlooking that you see along with your first response that may help me understand more.

This process below in approx. 14 months between each transaction.

House 1 Primary purchased 0%down/0%pmi (cash out refi)

House 2 new primary (house 1 rental) purchased 0%down/0%pmi

House 3 new primary (house 1, house 2 rental) purchased 0%down/0%pmi

House 4 new primary (house 1, house 2, house 3 rental) purchased 0%down/0%pmi (cash out refi on house 2)

Dear all, share your thoughts on this.

Simultaneously while flipping homes or involved in other investment vehicles.

If you have VA or Navy federal, you can do it with zero down and zero pmi , interest a little higher, but super low out of pocket since only closing cost is what you would pay. 12 months later do it again and move into your second new home with the same program. after 24 months, do it again, same program, by now you already had a full year of rents for House #1 where you can cash out refi , hold the property. Use that for closing cost on property #3, and so on with #4 then #5.

Navy asks how much you will be renting your primary for once it becomes a rental with a tenant to make sure the current mortgage gets taken care of. Navy will always service their loan, never be sold forward.

"Investing is evaluating properties and the methods you can use to get them at the best price and make the most money. You use all the strategies over your career."  Can I steal this forever, this is definitely the gist of it. @Jonathan Greene 

This is key if not you will never get into action and take your unfair advantage calculated risks.

Excellent Bruce, very nice move. I am glad to hear similar stories on new construction properties. I wanted to see who else was going that approach with SFH versus just acquiring existing homes.

Any one done BRRRRR with new construction. Owe an asset, zero down, no pmi, Live in it for 12 months, move out/rent it and buy your next new construction home with same loan product. New construction home will cashflow and have low to minimal repairs. Once you are on your year 3 on the third new home construction, year 1 home do the cash out refi on the equity. Thoughts. Thanks.

Greetings friends, thank you for reading this post.

I have been a member with NFCU 2010 or so.

Beginning of this year I applied for an investment loan, I noticed and have picked up dealing with multiple licensed mortgage brokers (NMLS) at NFCU that not all of them share the full correct information on investment loans down payment. Which cause some confusion or delays on my end. (Also due to not asking all the right questions)

Their investment products are very limited.

Single family (SFH), townhome, or condo = 15% down on 15 year fixed loan

Duplex = 25% down on 15 year fixed loan

Wanted to give a heads up and a quick summary that my help some during the beginning stages of learning what they need with them.

I will be using their product on a townhome to buy , fix and hold, since is in pretty good shape and only minor repairs. Versus using hard money lenders (HML) that requires 20% down payment.

"Remember never give up, Try Try again, Always"

Greetings friends, thank you for your time in reading this post.

My self non license person and a friend who is real estate broker want to establish a new brokerage (our own brand) We want to hear your wisdom and experiences if any for such structure. 

My role would be anything behind the scenes dealing with LLC paperwork, accounting, initial funding, etc (will not be involved with showings, or anything dealing with a listing or sellers or buyers)

The friend with the license and owner will deal with all real estate requirements of the business.