All Forum Posts by: Karinne Ovalles

Hi BiggerPockets community,

I'm looking into a real estate deal that needs to be paid for with cash, and I could really use some help finding a private investor or lender who might be interested in funding this kind of purchase.

I'd appreciate any advice on:

- How to approach a private investor about financing a cash deal

- Ways to make the deal attractive to someone providing cash

- How to reduce risks for both the investor and myself

- Recommendations for lenders or investors who commonly work with cash deals for rehab or investment properties

I'm happy to discuss more details privately with anyone serious about funding opportunities. Any tips, connections, or suggestions you can share would mean a lot!

Thanks so much for your help!

Karinne

@Rene Hosman Hi Rene

Yeah, that’s exactly the tough part we're running into with the VA loan. The 0% down is awesome, but in a high cost market it’s tough to find anything that actually cashflows right away. I’ve definitely thought about value-add plays like you mentioned splitting into a duplex, adding another unit, or just putting money into updates to push the rents up. Using what would’ve been a down payment for those improvements makes a lot of sense. From what I know, you can put money down if you want to lower the monthly, but you're not required to. Rates are usually competitive and no PMI helps a lot too.

I’m curious though have you heard of anyone pull off the house hack + value add strategy with a VA loan in a market like NY? 

@Clayton Silva 

My husband served in the Army- thank you for your service as well! I really appreciate the way you explained your method. Looking at it as reducing living expenses instead of chasing cash flow gives me a whole new perspective. We’re definitely in this for the long term, so what you shared really resonates with us.

I’d love to hear more about how you got started  what type of property was your first purchase, and how did you decide on that market? Did you run into any challenges in the beginning Also, looking back, is there anything you would have done differently in your first deal?

Hi everyone,

I’m currently looking to purchase an investment property using my VA loan and exploring a house hacking strategy. My dilemma is that I live in a very expensive market, and it’s been tough to find a property that offers good value and allows for positive cash flow.

Here’s where I could use your advice:

• Do I keep searching locally in my backyard (where my W2 job is, and where living in the property would allow me to use the VA loan for house hacking)?
• Or, should I broaden my search to out-of-state markets and consider a different investment strategy altogether?

I want to make the smartest long-term decision and would love to hear from those who have navigated similar situations with the VA loan, house hacking, or investing in high-cost vs. out-of-state markets.

Thanks in advance for sharing your insights and experiences!

Hi everyone,

I’m currently looking to purchase an investment property using my VA loan and exploring a house hacking strategy. My dilemma is that I live in a very expensive market, and it’s been tough to find a property that offers good value and allows for positive cash flow.

Here’s where I could use your advice:

• Do I keep searching locally in my backyard (where my W2 job is, and where living in the property would allow me to use the VA loan for house hacking)?
• Or, should I broaden my search to out-of-state markets and consider a different investment strategy altogether?

I want to make the smartest long-term decision and would love to hear from those who have navigated similar situations with the VA loan, house hacking, or investing in high-cost vs. out-of-state markets.

Thanks in advance for sharing your insights and experiences!

Hi everyone,

I’m currently looking to purchase an investment property using my VA loan and exploring a house hacking strategy. My dilemma is that I live in a very expensive market, and it’s been tough to find a property that offers good value and allows for positive cash flow.

Here’s where I could use your advice:

• Do I keep searching locally in my backyard (where my W2 job is, and where living in the property would allow me to use the VA loan for house hacking)?
• Or, should I broaden my search to out-of-state markets and consider a different investment strategy altogether?

I want to make the smartest long-term decision and would love to hear from those who have navigated similar situations with the VA loan, house hacking, or investing in high-cost vs. out-of-state markets.

Thanks in advance for sharing your insights and experiences!

Thanks so much for clarifying @Andrew Postell! Our first home was actually purchased with an FHA loan, so we haven't yet tapped into our VA loan benefits. That makes your insight even more helpful in narrowing down our strategy. Currently, we're conducting a deeper analysis of the market to determine the most sensible direction moving forward. Really appreciate the guidance—it gives us a clearer framework to work from.

If you don’t mind me asking, what steps would you recommend we take next in evaluating our options? Any tips on market analysis or how to best leverage the VA loan would be greatly appreciated.

Hello BiggerPockets Community,

My husband and I are ready to take the next leap in our real estate journey and we’re looking for guidance, mentorship, and possibly the right partners to grow with.

Our background:

• Purchased a short-term rental in Upstate NY in 2020
• Lived in it, fully renovated, and listed on Airbnb in 2023
• Achieved Superhost status with 27 stays and 100% 5-star reviews
• I became a licensed real estate agent to deepen my investment knowledge and sharpen our acquisition strategy

Our current STR doesn’t generate large cash flow due to remote management expenses, but it is consistently building equity. We’re playing the long game—targeting long-term wealth and financial independence within 10–15 years.

Our next move:

We want to acquire another property using my husband’s VA loan benefits. We’re looking for the best ways to:

• Determine if our current model fits more as BRRR or house hacking
• Strategically refinance to position ourselves for our next VA loan purchase
• Build equity now while increasing future cash flow

What we’re open to:

• Learning from seasoned investors
• Collaborating with creative, like-minded partners
• Exploring JV opportunities where we bring real value—experience with STR setup/management, design, renovation, and sales expertise from my real estate background

We’re not yet BiggerPockets Pro members (budget timing), but it’s a top priority because this community has already been an incredible resource. If you’ve walked this path before, have tips to share, or see potential for collaboration. 

Jaycee- This is all most helpful! I’d love to learn more about it and the next steps if it’s still available.

I’m new to this process—could you let me know what I should do next?

Best,
Karinne

This all has been most helpful! I am still doing some research on the area. 

Just a few follow-up questions:

Are the units being sold tenant-occupied, or will they be delivered vacant?

Are the tenants currently responsible for any utilities?

Additionally, are there any other similar properties currently available or scheduled to come to market soon?

I was hoping to see if there is an opportunity for BRRR.

I appreciate your time and look forward to hearing more!