All Forum Posts by: Shawn Tuma

@Al Watts Howdy fellow Texan! Hope you got to enjoy some fabulous food while you were here. I'd love to eventually invest state wide, maybe we can work together at some point. I'll send you a message so we can connect.  

 @Aaron Zimmerman These are great suggestions, thank you for the insight. There's so much here on the forums, it almost seems endless. 

@Arman Ahmed Thank you! That first leap of faith into real estate sure is nerve racking but a blessing nonetheless. I'm going to send you a message as I have been researching investing in the Midwest since I have family scattered throughout. 

@Keenan Cromshaw It seems great minds think alike! I will send you a message so we can coordinate a good time to connect.  

@Kerlous Tadres This is amazing & insightful information, thank you! 

Hey everyone!

Been meaning to post an introduction for a minute, just got sidetracked with life. A little bit about me: New investor, started a house hack with a duplex at the beginning of the year using a VA loan, looking at starting fix & rents in and around the San Antonio area with SF & small MF homes by the end of this year. Eventually I will be looking to invest in properties around the country, with a goal of investing internationally later in my journey.

Outside of real estate I'm an adventurer that enjoys traveling, the outdoors in some form or another. I'm an avid student of martial arts & train everyday. The fun activities I partake in range from reading books to skydiving to obtain my USPA cert.

Would love to start networking with all the awesome & creative like minded people within this forum. I attend networking events in & around San Antonio, so any Texas investors/realtors/contractors/lenders/etc. drop me a message and hopefully we can build a lasting business relationship that benefits the both of us. I'm all for meeting anyone outside of Texas as well, so don't be shy, say Hello sometime!

Recently acquired a duplex that cash flows a little bit. Both sides are 3/2.5. I currently reside in one side & the other is rented by a long term tenant. I'm contemplating renting out the other 2 rooms on my side (eventually all 3 when I buy a new property & move into it next yr), due to the fact it will bring in more cash flow than a single long term tenant. 

●What are your suggestions on doing PadSplit/Mid Term renting while living on site, and in general, using MF properties for Mid Term rentals? 

●Any formulas to use to calculate how well it's performing? Formulas for assessing a MF for Mid Term?  

●Links/books to educate on best practices for Mid Term renting? 

Any information would be appreciated!

Thank you for all the helpful insight!! @Jonathan Greene, @Johnny Lynum, @Wale Lawal, @Eric Bilderback

Hey everyone! 

This is my 1st MF property that I am investing in. I'm using my VA loan so I don't have to put any money down & can keep money in my account to fund rehab deals.

Since I'm not putting money down, I know that I won't cash flow this duplex right away. I do plan to live in the vacant side at least for a year, with a VA loan after a year I can take out a loan on another property. I'm more concerned on if it's going to be a good deal or not. I'm currently in the option period with it ending on Monday so I need to make an educated decision by then. Details on the duplex:

Price: $385k

Built: 2012

Size: 2674 sq ft (1333 each side). 2 story, 3B/2.5B each side w/ 1 car garage & driveway for both, fenced backyard both sides.

Interest: 5.49%

PITI: $2,698

Current Rent: $1,350 but could be brought up to ~$1,600, maybe $1,700

Yearly Property Tax: $8,340 (I don't pay any on my side while I live there so $4,170)

Upgrades: Vinyl floor in kitchen of both units, new AC (central HVAC) on vacant unit, roof done 2016. 

Inspection Results: Mostly small issues, inspector was mainly concerned with multiple cracks throughout the siding. Some damage from WDI, which seller will have to address this before close.

Seller is paying all closing costs, survey & title, they did a rate buy down to 5.49%, and a year warranty. 

Sorry for the long post but wanted to include all details possible. Does this seem like a decent deal for long term? I'm still on the fence about it & would love feedback from people with more RE experience than myself. I have the ability to cover all the expenses if there is vacancy, which this property has low vacancy.

I am looking for strategies and or guidelines to follow when it comes to using a MF for house hacking. I'm currently looking at using a VA loan for purchasing a duplex to live in one side & rent the other.

However in this market, it seems like even after I move out & into another property, most of the duplexes I've looked at won't be positive cash flowing, or break even. Many variables seem to be the cause of this to include house price, property taxes, interest rates, etc.

I really want to utilize my VA loan for MF properties & live in one portion and rent the others. What are your suggestions & strategies for making it work, so that it isn't costing me money in the short term & long term???