All Forum Posts by: Richard Valdez

Quote from @Corby Goade:

Thank you for your service!

Buy a property, 100%. The chances of real estate being cheaper in two years isn't great, there's no time like the present. Besides, this is the second best time to plant a tree, is it not?

Secondly- "house hacking" has MANY different meanings to different people. Don't rule out a SFH if that is the best fit for you and in your market. It doesn't mean you have a bunch of roommates- you can BRRRR a house hack with a VA loan and build an ADU while you are at it. You could repeat that process every year for 5-10 years and never work again if you choose to do so. Broaden your horizons and your search, there is opportunity everywhere. Just take action sooner than later.

Best of luck!

You are welcome and Thank you for providing information as a service. See what I did there? I have read everyone's comments Thank you all for the information and thoughts on the subject. I hope each and everyone of you have a great. I'm going to be offline abit got to get ready for the 20in of snow coming in 24hrs. I appreciate all your time. Thank you again.

Quote from @Max Ferguson:

Quote from @Richard Valdez:

Quote from @Nathan Gesner:

Quote from @Richard Valdez:

I recommend you at least look into buying a house. If you can find one that is going to make a good investment, you can get into it with 5% down, live in it for two years, then convert it to a rental when you move. I recommend looking at a large single-family home with 5+ bedrooms and lots of baths. When you move out, you can rent it by the room to college students and make it cash flow.

Awesome thank you for the advice. Seeing how this isn't my 1st plan I figured might as well go for the throat on asking price. There is 5 total properties that fix your description or once I double check zoning could potentially be that with adding sqft to the property. I am atleast thinking that is the case. Please forgive my ignorance but let's say the property is able to have ADU/or more rooms build, while it's currently a 1100sqft 2bd/1bath on 5500-6800 sqft of land. It'll be an achievable goal? Once again please forgive I can operate a Tank better then real-estate and procedures.

Do you have the money to construct an ADU? Not from ND so could be wrong here, but guessing that will be another at least 50-100k. Buy a property that is already multifamily that covers your cost basis, you can get creative after that. You need something stable for your first investment. Leverage the VA loan into a duplex-quadplex and go from there. You may still have to pay in a bit but should be far less than what rent would cost. You are also adding to your net worth each month by paying down the mortgage and incurring appreciation on the property.


Talk to a local investor to see the viability of what you are after, in a market like that it isn't too much of an ask. Buying sooner is generally better than waiting as you have no clue what will happen to the market. Good luck and let us know how it goes!

I don't have the money to afford projects like an ADU or sqft add-on. It was just more of a theory craft for once I move out of the property for a job in my degree field. Right now I work as a security guard. I had a better job offer upon moving here but failed their physical test due to injuries. Hence the security work they let me get my college work done last hours of shift; degree is in cybersecurity for a less hands-on w2. To answer your question no I could not afford that project at this time.

Quote from @Eliott Elias:

Multifamily is your best route with VA loans, your monthly payments become so high it becomes impossible to cash flow with a single family.

 Yes that was a main concern for me, I definitely don't want to buy for the sake of buying. I figured go hard for a deal if I get denied buy the sellers I'll just wait until I graduate, career change and better qualify for a higher amount to purchase a multi-family property. Typically 2bd/1bath single family homes rent here for 1,100k at about 850sqft-1000sqft.

3bd/2bth Typically 1250sqft-1550sqft could be 1,400 - 2,000k  higher rent closer to UND.

My other concern is after I graduate I'll most likely be moving out of state. 

Areas like: Spokane, Washington

Greeley, Colorado,   Pocatello, Idaho/ Twin Falls, Idaho. 

Then I have an issue of not qualifying for a FHA to househack at that point in time.

Quote from @Nathan Gesner:

Quote from @Richard Valdez:

I recommend you at least look into buying a house. If you can find one that is going to make a good investment, you can get into it with 5% down, live in it for two years, then convert it to a rental when you move. I recommend looking at a large single-family home with 5+ bedrooms and lots of baths. When you move out, you can rent it by the room to college students and make it cash flow.

Awesome thank you for the advice. Seeing how this isn't my 1st plan I figured might as well go for the throat on asking price. There is 5 total properties that fix your description or once I double check zoning could potentially be that with adding sqft to the property. I am atleast thinking that is the case. Please forgive my ignorance but let's say the property is able to have ADU/or more rooms build, while it's currently a 1100sqft 2bd/1bath on 5500-6800 sqft of land. It'll be an achievable goal? Once again please forgive I can operate a Tank better then real-estate and procedures.

Hello everyone name's Richard. I'm currently renting and rent is being raised. My plan was finish my last 2 yrs of college then use my VA loan on a multi-family to house hack I have a wife and two daughters so don't want to house hack a single family. On the other hand I'll be on the area for 2yrs so was wondering if it's worth paying 150-200$ more for a single family home now with the VA rather then wait as mentioned above. Thoughts? Be brutality honest I can take it. Oh I'm also in Grand Forks ND Thank you