All Forum Posts by: Kirk Olson

Increase the performance of the 4 unit I will be closing on next week by updating the units with new floors, brightening them up, and increasing rents by $125 total (only 2 units need increases).  Then increasing my rental income by $5000 a year.

Getting my website up and running so I can document my path with real estate to help myself reflect and learn as well as provide a candid personal story to new and aspiring investors.

I used my first VA loan to purchase it which is why I was able to put no money down on it. Saved all the rent from the year I lived in it to purchase my next house.

Sounds like you're doing the right things.  I wouldn't say you have to take the job, at least I wouldn't quit my job to move to it but if you're in a position where that makes sense go for it, work to learn!  But the key is to surround yourself with those who are like minded and the more experience the more you can learn from them.

I started with $3000 for closing costs. I bought a duplex and house hacked for a year, the rent from one side covered all but $47 of my PITI. Now that I've moved it cashflows $638 a month with management in place, that is before any repairs and excluding future capex.

If you only have two loans you can definitely get more unless it's a debt to income issue. If it's an DTI issue do you have any other obligations? Car loans, credit card debt, student loan debt or anything else? If you do you'll want to work on paying that off other wise you will need to get creative.

I work till 10 but if you guys are still there then I will stop by!

I've only had a family friend in Iowa do mine, but I am also looking for someone local.  Call me old fashioned but I'd prefer to sit down with them and talk things over face to face.  Especially when it comes to talking about tax strategies down the line.  @Gabriel Meerzo

 can you message me your CPA in FT. Wayne.

If it's Saturday, then I'm in this time!  Is it still going to be at 7pm?

I would be interested since I've never played it and I'm relatively new to the area.  However, I work 2nd shift 2pm - 10pm Monday through Friday so unless we took time out of our weekends I'd be out.

@Ross Ellington I can't say that you would have $216k left because I couldn't qualify for a loan that big based on my income and DTI. For both loans you will still have to meet DTI requirements to get the loan, they won't give you a $416k loan if you're only making $40k a year. Your best option is to talk to a lender that is well versed with VA loans and let him know what your intentions are and ask questions.

Yes I did get the 2.75% interest rate with nothing down and the funding fee rolled into the loan, but that was when the prevailing rate was at 3% so a .25% reduction which was nice.