All Forum Posts by: Mystica Maxie

I have a few questions. 1.) Are there any restrictions when using the VA loan to buy a multi-family home up to 4 units? 2.) Listening to the podcast, I heard an investor mention a 203K loan used in conjunction with the FHA. Could you expand on this concept a little? 3.) Is there something like the 203K loan for a VA loan? Or can the 203K loan be used in conjunction with the VA loan? I appreciate all feedback from comments to links to information.

@Sam Smith

Thank you for the information! I have heard the term "turn-key" everywhere, but I didn't know what it meant.

Transforming a detached garage or converting a basement would be a great idea. I have heard it can be troublesome in certain locations due to licensing and permitting. I know in my area/market renovating a garage, shed, basement, or loft area could be easily done because these restrictions are almost non-existent. 

If I happen to come across anything, I will certainly let you know.

Not discouraged at all! I appreciate you being upfront! 

@Harrison Freeman

Hey Harrison, I am new to the REI community. Is this meeting ongoing? If so, when do you meet and where?

@Rafael Feliciano

Does this REI group currently meet on the third Thursday of each month at Magnolia Bank? I see this post is dated so just wondering.

Mystica

@Sam Smith Thank you for your response!

House hacking sounds very interesting! As a newbie, I am not sure how it works. I registered for Brandon Turner's "How to Buy Your First, Second, or Third Rental Property" webinar after my classes today.

I do have a general question about multifamily properties from your comment. If a duplex is hard to come by in the area we will be combing, then would a triplex or quadplex be too much for a new landlord to manage? Not really looking at renovations and other costs. If a triplex or quadplex was on the market with tenants, then would you rather have that property or vacant property?

@Dan Guenther 

Thank you for the response! 
I currently listen to the Bigger Pockets Podcast on my commute to and from campus. 
I will definitely be on the lookout for meetings in my area!

Hello!

My name is Mystica. I'm 22 pursuing an English Licensure degree from the University of Southern Mississippi. I am from Mississippi.

I am new to the realm of Real Estate Investing. I am learning how everything works so I can understand the language my boyfriend is speaking. I want to be supportive as possible of his goals.

I am unsure of the location or region where he will be investing.

I promise I know something! I know Nick will be on the market for a duplex and "house-hack." I am excited to go on this journey with him but would be lying if I said I'm not worried about the unknowns. All the information available is a tad overwhelming as well. Where should start?

If anyone has ANY suggestions or advice, I WILL GLADLY take it!

Please feel free to point me towards any resource, book, forum you believe would help.