All Forum Posts by: Obed Salazar

So I ran the numbers by my real estate agent who also has experience investing. At $1,200 rent per unit, it is quite the money maker even before negotiating price. Unfortunately for me, the rentometer prices I used for my calculations are way of base for a multi family. Actual multi family comps in the area rent between 650-960 tops. That’s a loss of $480 from income, making this strike instead of a steal. Thank you to everyone that read my post and those that commented. 

Hi Jeremy,

How’d you get $10k funding fee on this property? First time use, no money down is 2.15% according to va.gov; so around $4065. Are there other costs that would bring the total to $10k? I didn’t mention all the specifics, but I won’t pay funding fees due to service connected compensation.

Thank your for the response. My unemployment is temporary so seller financing or HML sound the most appealing. I have to do some homework on seller financing as I'm not really familiar with the specifics.

Thanks Patrick for looking it over. I got those figures for vacancy and CapEx from Brandon Turner. I see you're in Pensacola as well, is 8-10% and 7% what you use locally? I am aware of the intent.

Hi,

So here's the scenario: I quit my "high income" job and moved to another state. I have money saved up, no current income, and live with my fiancé who has a full time job. I found a duplex we intend to house hack and fund with a VA loan for 0 money down and no PMI. We'd live in one unit for free, then cash flow ~$700 after moving out. If a lender won't fund due to me not having a job at the moment, what are some other options?

Hi all, 

My name is Obed. I am prior military (AF) and an air traffic controller. I'm new to BP and REI in general. I am also new to the Pensacola, FL area.

I've been trying to analyze listings on the usual sites and what I receive from a real estate agent. This duplex popped up and seems like a home run for my "criteria". I have a couple of requests with this post. Can someone double check my work because the numbers look so good I feel like I've entered something incorrectly? :). Next, I'm currently not working but I have some money saved up, and my fiancé (we live together) has a new nursing job. Will that be a problem for a traditional lender? I want to use a VA loan, would they take into account her income? Any solutions/suggestions?

Thanks in advance for your time and replies.

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