Christine is a proud Army wife and Momma who covers a range of personal finance topics at Her Money Moves

This is a true life, it happened to me, precautionary tale. I want to share my Tidewater story with future home sellers as well as buyers. Tidewater is happening more often in the current market than ever before. I want more people to become aware of the possibility of a Tidewater situation, in case it happens to them. My husband and I have purchased and sold a handful of homes during his military career. We’ve used both conventional and VA loans to mortgage our houses. In this example, we were the seller and the buyer was shopping with a VA loan.

Until a few weeks ago, I had never heard of the term, “Tidewater” as it relates to real estate. I was pretty familiar with both VA and conventional appraisal processes, but I never thought too hard about it. Every appraisal for each house we had ever purchased came in at the contract price or slightly above it....

Rich Dad Poor Dad To The Rescue!

I pulled into my favorite dirt parking spot at Daffin Park.  Ray and some of the others were already ahead of me setting up the net, the music, and cracking some fresh beers.  Geez, Ray’s truck is obnoxious, I think to myself. It’s one of those Dually Chevy F5000s - I don’t know what it’s called.  Doesn’t matter.

It’s a Friday in mid-March, so the weather in Savannah is just perfect for some beach volleyball. After a few games, we head to the park benches to relax and catch our breath.  Ray mentions to me that he closed on another home and I asked him jokingly, “How many houses do you need, man?” At that point, he had purchased 4 single family homes - one of which he was living in with 4 roommates (aka House Hacking). The others had tenants in them already, but I didn’t quite understand why.  

I also couldn’t understand how Ray could be frolicking around on a beach...

Real Estate Wholesaling

Real estate wholesaling is simply when one party (a wholesaler / buyer) puts a property under contract with the seller, then markets the home to other potential buyers for a higher price. The Wholesaler will assign the contract to the new buyer. The wholesaler will make their profit from what is referred to as an assignment fee, which is the difference between the contracted price with the seller and the amount paid by the buyer.

While there are many ways to finance your first investment deal, wholesaling does not require significant capital to get started and therefor many real estate investors consider wholesaling to be the best short term money making strategy.

In order to be a successful wholesaler you will need to be able to identify properties that have profitability to end buyers. End buyers are typically real estate flippers or other types of investors who prefer not to spend time searching for discounted properties.  

By acting as the connector...

When ADPI asked me to write a Blog post about starting a meetup I was quick to accept. I thought “what an opportunity to encourage others to take control of their Real Estate Investing (REI) futures no matter where they are at in their journey to financial freedom”. I, like many of you, am brand new to REI, but I am extremely motivated to grow and learn. My hunger for knowledge and desire to break free from my self-doubts and comfort zone drove me to begin my own meetup.

I didn’t start out with the intentions to start a meetup. In fact, I was extremely nervous. My story begins back in December 2018 when I finally decided to get serious about my financial future and step out of my protective bubble. I bought tickets to attended Rod Khleif’s Multifamily Bootcamp event in January based on the recommendation of my buddy Eric Upchurch.

The event was awesome and even though I spent much of it observing, I recognized the importance of networking...

Episode Transcription:

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Hey, what's going on guys, welcome to the Active Duty Passive Income Podcast. Thank you so much for tuning in. Again, if you have not hit the subscribe button, make sure that you go ahead and do that, you do not want to miss some of the awesome content that we have flowing on this stream. Alright, if you guys are tuning in for the first time, this might be a little bit of a heavy topic, I definitely recommend that you go back a few episodes and just kind of catch up on some of the easier ones on, you know how to get started in real estate investing or how to invest in real estate as a family, whatnot. But this topic is going to be amazing, and this episode is awesome. We've got an awesome guest today he's going to talk to us about one of the more advanced tax topics that comes up when you start talking about multiple investments or when you start talking about bigger investments such as multifamily. All right, so make sure that you have your...

Episode Transcription:

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Hey guys, what's going on? Welcome to the Active Duty Passive Income Podcast. Today's episode is going to be so much fun, okay? Because we're going to talk about a world that is very, very, very creative. Okay? Talking about syndications and getting money. This is a lot of people's problem. They go through the whole process of learning how to do deals, learning how to talk to people, learning how to, you know, get their elevator pitch down, but then they realize, okay, well, I have all these deals. I have all this knowledge. I have all this, you know, all these connections. But my problem Mike is money. How do I get money? Well, you definitely want to pay attention this episode because Whitney Sue is going to break down a lot of the specifics behind syndication, it's great. Make sure you're taking notes, and also make sure that you do further education on syndications, especially if you're going to be getting into that larger multifamily,...

Episode Transcription:

Introduction

(0:17)

Hey freedom fighters. Welcome to the Active Duty Passive Income Podcast. The only place where military members, veterans and their families learn how to build wealth through real estate investing. I'm your host, Mike Foster, and I'm here to show you how to stop wasting your benefits. Now get off your ass, step up to the firing line and make ready for today's lesson.

Today’s Guest: Lenita Abouchabake

(0:42)

Shooter standby. Hey, what's going on guys, welcome to the Active Duty Passive Income Podcast. This is the mobile edition yet again. Here I am getting ready to transit out and it's amazing how you can take these things on your phone nowadays. I remember when I used to write my Christmas list on a typewriter but anyway, aside from all that, I have an amazing guest here, all the way from Australia, Lenita Abouchabake, how are you doing?

Hi, Mike. I'm absolutely amazing. Thank you for having me.

No, it is my honor and...