All Forum Posts by: Patrick Drury

@Promodh Udugampola
Use a VA loan since you are in the military to buy an owner-occupant duplex/ 4-unit. It's a great way to get into real estate. You're going to have a lower interest rate and it's 0% down.

@Sam Tanner
I live in Columbus OH so the owner-occupant loan products I am accustomed to might not be offered by lenders in your area. For example, if someone is looking in Columbus OH I would recommend a certain lender who has a great owner-occupant loan for multi-family. It's 5% down no PMI and best of all, it's a conventional loan. I would post here in the BP forums asking people for good suggestions about owner-occupant loans in the market you are looking for. Investors, lenders, and even agents will reach out and give you suggestions.

@Alex Guerrero 
Aside from what people have already mentioned, the big ones are the MLS and experience (experience in the market and the process). A big one for me would be the time. For example, would you learn on YouTube how to fix your engine if your car was having engine issues and waste time doing so or just take it to a mechanic? I am not a mechanic, so I would just take it to someone who knows what they are talking about instead of trying to save the money and end up making it worse in the end. Those are two completely different jobs, but it illustrates the same premise. I just think the time piece is important for me.

@Sam Tanner
If you are looking to invest locally in those areas, you should buy a duplex and owner occupy it, especially if you are a first-time home buyer. There are lots of great loan products out there for owner-occupant first-time homebuyers that go away once you buy your first property. Learned that lesson the hard way. 

@Charles Mier 
Cash-out and move to Florida so you can go to the beach often, get away from the cold winters, and enjoy no property tax. Now is a perfect time! 

@Monique Ilagan
Forgot to mention I was referencing the Columbus market above where I live and invest currently. 

@Monique Ilagan
You can definitely pick up a single-family rental that will cash flow with 20-30k cash on hand. In most cases, it's not going to be completely turnkey you're going to have to pay more if you want a turnkey home or just put the work into it. 

@Leonard Rybak
Definitely check out the Columbus OH market. Great cash flow/ application hybrid. Also, lots of job opportunities and population growth. 

@Matthew Loving
Those are definitely great areas to be looking for STR. Just a matter of finding a deal in those areas since they are so sought after in Columbus.

@JR Hinds
No problem!