All Forum Posts by: Kenny Lewis

thank you J. It sucks to say, though, I'm not familiar with most of what you said. I meant that I'm brand new : )  could you elaborate in beginner terms if you have time? Thanks

Jason, have you joined these groups or have you gone to any meetings?  How is it? 

thanks alot Jason, that's exactly what I'm looking for. I'll look into those

thanks Steve. The family member lives in Texas so there aren't any thanksgiving dinners haha. So if I got a different pml, would I have to refinance to pay back the lender? Or would it be whatever we agree on?also, can you elaborate a little more how the process works with refinancing to pay back the lender? 

thank you Allen and Aaron. We will eventually be pcsing back home to CA. So we were thinking of refinancing the house we own now to gain eligibility to use for another property. And when we do pcs back home we will be able to rent it out. Correct? The multi family unit sounds very interesting. Does that mean we could buy a duplex or four plex with our VA loan and rent out 3 of the units? Would we have to live in one of the units though?

If everything goes to plan my pml will be a family member so it'll be pretty flexible. And by refinancing means I have to apply for a mortgage loan and run a hard credit check? I really don't want to have to apply for an loans if possible or have any money out of pocket.  Any other options? Or the main version to pay back is refinancing?  If the lender is a family member is a monthly payment agreement normal/best way to go?

Want to get a better understanding about paying back a pml from a rental property buy. I know for flips that once the property sells that the pml gets paid back from the sale price. But how would I pay a lender back with a rental property since I won't have the purchase amount back with a sale. What's the process? Is it monthly with the cash flow of the property? Advice for pursuading a lender to invest in rental property when the lender wants to be paid back quickly or full payment...

My wife and I bought our first home with a VA loan. I've heard it's a good idea to refinance to a conventional loan to enable the VA credit to be used again. How would I go about doing that and are there better loans to get. Any secrets or strategies to save as much as I can on interest and fees? Any advice for VA loan refinancing. What's the process to be able to use our VA loan again for another home, probably a rental property. Thanks

hello BP...

I'm new to REI and I'm trying to get a grasp of rehabbing costs...one of the better ideas I've learned is to save all products bought and or used to use as a template to copy for future rehabs. This makes it easy to know the costs, makes it easier for contractors, and faster. So I'm wondering what avg rehabs costs are for those who kind of "copy and paste" their rehab ideas. Like what's avg cost for new hardwood flooring for a 3 bd house...what's avg cost for new cabinets and counters and new appliances. Avg price for paint in about 900-1600 Sq ft home...trying to get ballpark prices so I can have a better idea of good deals and end budget... thank you

hello BP,

I am Brand new here and want to see where/who the Newport News real estate investment communities are. Are there meetings or clubs near here? Any mentors looking to help a newbie. Mainly looking for startup advice...business plan, buying process, deal finding, flipping, rehab advice...thank you