All Forum Posts by: Patrick Center

@David Frol I have not as of yet.  I will definitely be planning on it in the near future though!

I love what you said here because it mirrors my plan to a T (at least the plan I have in mind for the time being). We didn't use the VA loan on our current home because we had a hefty down payment and, to be honest, VA loans typically aren't competative in my market because of multiple offers/cash buyers. Sellers here tend to see buyers with VA loans as coming with hassles that they would rather not deal with. That being said, our work around is to use our VA loan within the next year to buy a new construction property which will serve as our primary residence for the forseeable future (where our kids will grow up, etc.). From what I've heard, in our area builders tend to be much more accomodating when it comes to VA buyers.

I'm soooooo glad you addressed the 1%, 2% and 50% rules.  I had been feeling like my plan was somehow wrong or that I might be starting off on the wrong foot because those rules just don't compute.  I am all about higher level tenants and lower expenses.  The Southwest airlines model--I like that.  Anyway, my real estate investing plan (as it exists today) is not focused on rapid growth, neither in terms of properties or wealth.  I merely want to acquire solid buy and hold properties with down payments large enough to create cashflow, perhaps at a rate of 1 every couple of years.  I like my current job and am in no rush to leave it, but I would love to have the option later on down the road.

Wow!  Thank you @Devan M. @Dave Visaya @Christopher Hunter @Joshua McGinnis @Brett Synicky @James Wise @Jay M. @Brandon Turner @Eldar M. @Elizabeth Colegrove for the warm welcome!

Hello BP folk!  For a couple of months now I've been lurking the forums, listening to the weekly podcast, and reading the UBG (in addition to several other real estate investing books).  So, it's about time I properly introduced myself to your community.  I'm a 28-year-old veteran of the U.S. Army, federal employee, proud new father, and also a recent first-time homeowner living in the Los Angeles area, more specifically the San Fernando Valley.  When my son was born about five months ago, my whole world was changed.  Seemingly overnight, I transformed from a carefree twenty-something who bought/did what he wanted to a father on a mission.  I am in the early stages of developing a plan that will lead to financial wealth and real estate investing will be my vehicle.

A little more than a year ago, my wife and I bought a house that was flipped here in Los Angeles with 20% down and my wheels have been turning ever since. I have seen less-updated houses in the neighborhood rent for $2600-2800 while the PITI that we pay on our home is almost exactly $2000. To me (a complete newbie), this sounds like an opportunity for cash flow and I'm eager to tap into it. In the meantime, I am learning everything I can about buy and hold investing, land lording, self-managing properties, screening tenants, and so on. If anybody has suggestions for reading, stories they wish to share, or whatever, please don't hesitate to leave a comment or contact me directly/privately. Thank you all for all of the invaluable information you have already shared with me and I very much look forward to being an active BP member and successful buy and hold investor.