All Forum Posts by: Sean Rooks

Lots of great advice on here. 

Your savings plans sounds great! With that, it looks like your best option may be to use that VA loan to purchase a dupex or SFR and rent out the rooms/other side. House hacking is a a super powerful way to get started investing early. Low cost to start, low risk on your part, you get to learn the ropes of being a landlord, maximize savings, and you can buy another one in 2023 and maybe a 3rd as well with the savings you have accumulated. If I was in your shoes, thats what I would do.

Partnerships are a great way to start when there is a clear exit, like a flip or value-add 5 year hold on multifamily. With this being your first investment it also nice to have others to split the risk/reward. If you plan to hold on to this property awhile, how will you split the cashflow profits after you move out? When will you sell and get their money back to them? If you have a plan, then the partnership should work as discussed above. 

If you are going to hold onto this rental for a long time, maybe purchasing it yourself is an easier move. You could use an FHA 203k rehab loan to fix up the property if it needs work (until they start doing VA reno loans again). If you find something that doesn't need work, then just a regular VA loan would work great. I think it may come down to whats available at the time you need a home.

Love House Hacking by-the-way. Great choice, super powerful way to get started and accelerate your investment. 

Ill PM you.

Get in contact with @Shawn Bowen at Out of the Box Wholesaling. He runs a business that teaches new wholesalers here in Norfolk. 

Call Nofolk City Planning, Joy there is very knowledgable and easy to tlak to. If you need it Subdivided, I've used DKT in Norfolk, they are competant and well priced. 

I would recommend @Larry Pendleton or @Paul Allen

I'll message you some

I would take some classes with local wholesalers, and leverage their knowledge. @Shawn Bowen runs one called "Wholesaling Out of the Box"

https://www.wholesalingoutofth...

Hey Xavier, there are multiple:

Welcome! Lots of great local groups around, each with pros and cons:

TRIG: meetups once/month, paid membership, tons of local rooted investors
https://www.trigofva.com/

Hampton Roads Investor Group: Free, hosted by investor agents at 1st Class Real Estate
https://www.facebook.com/group...

ReSolve Meetup:

https://www.biggerpockets.com/...

Hampton Roads Landlord Associtaion
https://www.meetup.com/HRLandl...

I studied, read and listened to podcats for about 6 months before I acted. But a lot of that was picking strategy. If you know your strategy, I'd just dive in to every book and podcast I could find. Then when you feel confident and can teach it to someone else, go for it!