New member stationed in Hawaii!

[Joshua Wray]

Hello everyone! 

I just started reading "The Book on Rental Property Investing" (which is how I discovered this site). I'm currently active duty Navy and stationed in Hawaii. I do own one rental property in Maryland but I built the house a couple of years ago. Sadly, my cash flow is slightly negative at the moment but I've just been viewing it as if they're paying my mortgage. I used my VA loan (and maxed it out), which is why I put no money down and probably why I am slightly in the negative each month. I've considered selling the property and rolling the profits tax-free into a new property but I'm not sure the best route. I now owe roughly 395k and it's value is between 425-460k (depending on what site I reference). My mortgage is 2500, I charge 2500 rent, and I hired a property manager who takes 8% ($200). So as you can already see, after all is said and done I'm pretty deep in the red each month.

Anyway, I look forward to learning from everyone here and I'm VERY excited to get started!

Mahalo! 

[Russell Brazil]

Welcome to BP @Joshua Wray. Id be happy to give you a better idea on the value of your property if it is in a part of Maryland I am familiar with.