Our military oriented real estate investing blog.
Let’s be honest – the current market is pretty crazy. House-hunting is a stressful event in general but add in the fact that you can’t find a newer home to fit your budget and that stress increases ten-fold. Most veterans are aware of the “normal” VA loan, but there are other options available. It’s important to know your VA loan options so you don’t miss out on spectacular opportunities! Whether it’s a foreclosure you fell in love with or just a fixer-upper, the VA renovation loan may have you covered.
A VA Renovation Loan is a single loan provided by the VA that includes both the home’s current value AND the amounts needed for minor remodeling and non-structural repairs. There are some similarities to the straight VA Loan- such as it is usually 100% financing, the home must meet the VA’s minimum property requirements, and the home must be the veteran’s primary residence. There is no...
Going to college is extremely expensive these days.
In general, having children is an expensive 18+ years. It is something my wife and I are about to face with complete joy and overwhelming anxiety. Once senior year rolls around, most parents have to figure out a way to pay a massive college tuition bill, not to mention many other expenses that come along with sending a young adult off into the real world. After all, your college student is going to want to have some spending money in their pocket.
Rather than telling them to find a part-time job, which will most likely hurt their extracurricular activities, study time, and social life, why not invest in their future early on? Help them be smart about money and give them a legacy of financial freedom and literacy.
Here is what you do: In the year that you have a baby, buy him or her a turnkey investment property with a 30-year loan. Have any cash flow go directly towards the principal. If you do this...
From 2013-2016, I worked at a factory called Kleer-Fax. During the second half of my tenure, I was the National Sales Manager (sometimes called Chief Marketing Officer). While seeking out ways to increase sales with current customers and getting new ones, I also found other money.
This included a grant from the SBA for hurricane relief, as well as one from a non-profit. But the best opportunity I ever found was in solar leasing.
Solar leasing is when you rent out your property (usually the roof) to an energy company that makes money with solar collection and the sale of SRECs (Solar Renewable Energy Certificates) on the commodities market.
You have a building or land, and you get paid to let someone else install solar technology.
Normally, to go green, you have to pay a good deal up front. Then, for the next 20 years, you are financially responsible for the whole system. Hail storm?...
Military members are accustomed to significant challenges. Combat tours, deployments, and frequent transfers are a few of the difficulties they face frequently. Because of this stress, many military members experience significant struggles when it comes to getting ahead financially.
Possibly one of the greatest benefits to U.S. government or military service is the Thrift Savings Plan. The Thrift Savings Plan (TSP) is a retirement savings and investment plan offered to current employees of the military and federal government.
Since it’s a “defined contribution” retirement plan, the retirement income you receive from the TSP will depend on how much you (and your agency, if applicable) contribute during your working years--along with how well your investments perform over that time. Though it offers numerous advantages for retirement savings, the TSP is an under-appreciated and under-utilized benefit offered by the federal government.
Being a service member gives you...
VA loans can be used toward many types of homes. At first glance, it’s easy to see how single-family homes, condos, and townhomes can be purchased with a VA loan, but what about manufactured homes? With proper research and assistance, a veteran can purchase a manufactured home with a VA loan.
Manufactured homes are built and assembled in factories in pieces, then transported to the home site for installation. These homes can be 10-20% cheaper than single-family homes, thus making it a viable option for veterans.
Sometimes “modular home” and “manufactured home” are used interchangeably. This is not correct – because even though a modular home is built in a factory as well, modular homes are transported differently and must follow different (and more stringent) code regulations.
Although manufactured homes can be a convenient and affordable option, there are multiple...
House hacking is a tried and true real estate investment strategy that is a great option for anyone starting in real estate investing. Generally, it is when an owner lives in a unit or bedroom of an investment property and has renters in the other units or bedrooms. The best part about this investment strategy is that it can greatly reduce or eliminate mortgage expenses.
So if you’re eager to learn more, here are four ways to avoid the most common mistakes in house hacking:
A common mistake made by first-time house hackers is buying the most expensive house in the neighborhood. The thought process goes like this: "I’m going to be renting out part of my home, so I can afford a nicer place." What they’re failing to ask is if they'll find tenants to cover such expensive rent and if they’ll be able to later sell the property for a profit. If it’s the nicest place on the block, it’s likely to remain stagnant...
Kevin Brenner, ADPI Hero, Capt, USAF / @investorkev
“If you get up early, work hard, and pay your taxes, you will get ahead-if you strike oil.” - J. Paul Getty
I am not a certified tax advisor, nor do I aspire to be one. This blog should not be used or be considered professional tax advice. I highly recommend consulting with a tax professional to obtain specific tax advice tailored to your financial goals and aspirations. The below thoughts are of my own opinion and should not be considered legal advice in any way, shape, or form.
Now that we got that out of the way...
Let’s talk taxes! Yay everyone’s favorite subject! Who doesn’t love forking over your hard-earned cash to the government so they can maybe get around to fixing that pothole that’s single-handedly thrown your car’s alignment out of whack?
Well, the truth is, taxes are important. Taxes help fund necessary programs and keep local municipalities alive. They...
Serving your country is a noble albeit thankless job. Upon years of service, thousands of veterans return and find themselves without a home. Data from the National Alliance to End Homelessness shows that as of January 2018, 37,878 veterans were homeless. Veterans make up 9% of the adult homeless population. Aside from economic hardship, veterans must also deal with several and prolonged deployments, finding housing stability even harder to come by. Post-9/11 veterans face more of a conundrum than older generations of veterans who have secure homeownership rates and less housing cost burdens. A study by Apartment List shows that 35% of post-9/11 veterans are cost-burdened, compared to those who served in previous wars.
Efforts to eradicate or lessen veteran homelessness have been the focus of several organizations. Building Homes for Heroes and Habitat for Humanity’s Veterans Build similarly build or modify homes for...
Regular VA loans are an amazing benefit for single-family homes and smaller complexes up to four units, but what if you want more units? Or what if you would like to invest with multiple people? The Joint VA loan is a great tool that you can solve both of these predicaments.
The VA Lender’s Handbook states that “a joint loan is a loan made to • the veteran and one or more nonveterans (not spouse), • the veteran and one or more veterans (not spouse) who will not be using their entitlement, • the veteran and the veteran’s spouse who is also a veteran, and both entitlements will be used, or • the veteran and one or more other veterans (not spouse), all of who will use their entitlement.”
That means that borrowers who want to purchase a home with other people (who are not their spouses) can purchase real estate. This can potentially create a whole different level of possibilities for servicemembers and veterans.
Meet John and Jessica: I met them at a local real estate investment association (REIA). John and Jessica are a young married couple that hustled their way into multifamily investing. They started by spending a considerable amount of time learning about multifamily investments. They then developed a strategy tailored to their individual strengths. John focused on networking with brokers and finding off-market properties, while Jessica focused on analyzing the deals. Over several months, they fine-tuned their process. When they found a good deal, they would package it up and send it to their network of investors. Their work was such high quality that eventually an experienced syndicator reached out to them and asked them to be part of his team. They've since closed on their first deal and are working on numbers 2 and 3.
What’s impressive to me about this example is that they didn’t start with a ton of money. They worked hard...