All Forum Posts by: Tyler Flagg

Hey @Joshua Gravois welcome to BP! Congrats on getting your foot in the door with regard to real estate. I just got started myself within the last year, and quickly realized how awesome this website is. Be sure to stay active and ask a lot of questions. Feel free to send me a message if there is anything I can do to help. 

Hey @Angel Gracia welcome to BP. And welcome to your future! It's great to have you. I'm an AF guy myself and just got started investing within the last year. I too found real estate because I love the idea of passive income and setting up a great retirement for me and my future family. Be sure to stay active and ask lots of questions. You'll do great. Feel free to send me a message if there is anything I can do to help. 

Hey man. I think the agents open house is a great idea. Here's a few suggestions from my end. 

1) Figure out where the Colorado Springs REIA is and try to get to every meeting.

2) Use the "Network" tab on BP and connect with the most active members from C-Springs. I'm sure they'll have a lot of good advice.

3) Brandon Turner started a forum post called What are the key indicators of a good real estate market. Harness the power of Google to get answers to as many of these questions as you can. 

Best of luck man. Hope your PCS went well. 

@Jahmar Childs welcome to BP! I'm an Air Force guy myself and just got started investing back in April. If I was you, I would definitely consider using your VA Loan to purchase a multi-family house in SLC. Live in one of the units, and rent out the others. It's a great way to get your foot in the proverbial real estate investment door...especially since you have two years left there. Feel free to send me a message if there is anything I can do to help. Best of luck!

@Ed Hancock welcome to BP! I'm an out of state investor with three properties in NW OKC. I love the city and love the investment potential. I haven't seriously looked into SW OKC yet, but with the "core to shore" project in full swing I'm definitely going to start searching for deals there. Best of luck to you and let me know if there is anything I can do to help.

@Nathan Henshey welcome to BP! I'm an Air Force guy myself and just got started investing a year ago. This website is worth its weight in gold as long as you keep active on it. Feel free to send me a message if there is anything I can do to help. Best of luck.

@Matthew Byers check out the VA Lenders Handbook Chapter 3. It's a one-stop-shop for everything you could ever want to know about VA Loans.

There is a ton of great information in there. If you wanted, you could buy your duplex and live in one side for a year to satisfy the VA requirement. Then you could refinance it into a conventional loan, move out, and re-use your full VA for a home. Don't forget that you can also buy a triplex or quadplex...that's my plan once I PCS.

Feel free to send me a message if there is anything I can do to help. Best of luck. 

Hey James. 

What is causing the fact that you are unable to occupy?

I ask because I think it would probably depend on the situation. Chapter 5 of the VA Lenders Handbook states that you must "intend" to personally occupy the home. So if you intended to occupy but were then transferred overseas it wouldn't reflect badly upon you.

Hey @Ronald Kile welcome to BP. No, you don't need a real estate license to buy apartments or other real estate investments. 

The best way to get into the field is to start reading everything you can get your hands on about real estate. @Brandon Turner wrote a great blog post called The Twenty-One Best Books for Real Estate Investors. That is where I started when I became interested in real estate, and it has really paid dividends. 

Good luck. Let me know if there is anything I can do to help.

@Jason L. That's a pretty unique question you have there. 

- Duplex pros: Its going to be quicker, cheaper, and save you a small chunk of change immediately due to a lower mortgage. Its going to require less time for management. Overall much easier investment.

- Duplex cons: Smaller margin. Wouldn't necessarily cash flow, it would just provide you with free lodging. Higher maintenance charges since it isn't a new build (not sure how old the building is.)

- Quadplex pros: Significantly higher margin. High amount of equity after building. Lower maintenance expenses and capex due to new build. Cash flow! 

- Quadplex cons: Will take a considerably longer time. Higher potential for delays, expenses, and problems to occur. More management. More challenging for someone new. 

I'd say that there are two things you need to think about. First off, is this going to be a short-term or long-term play? Secondly, what is your level of risk and cash reserves?

Personally, I think I'd rather go with the quadplex. I like the idea of building using the VA loan. I know a number people who have done it, but they always did a SFH as opposed to a MFH.