All Forum Posts by: Aaron Hale

@Christian Edward KrogThank you for your service and congratulations on being wise enough early on to plan ahead! Tax free, hazardous duty pay, 10% Deployment Savings Plan, etc. You will be in a perfect position when you return to purchase an investment property.

Use your down time to learn all you can about the best  way to deploy your hard earned money. Read the forums, blogs, and books, Listen to the podcasts, Network, and be prepared for when you return.

God bless and stay safe!

Aaron Hale

US Army EOD ()Ret.  

@Todd S.what did you think of the boot camp? 

Thanks @Jay Hinrichsand @Todd S. I’ve heard about municipalities and counties not being too keen to new development due to there being little  additional tax revenue  gained, but was  hoping I could get my foot in the door since there were already existing mobile homes in place. I’ll check the local ordinances. 

I am interested in investing in MHPs but haven't yet done the research in this area of REI. While searching for other potential investment properties I came across a listing for three mobile homes, two rented and one in need of repair, sitting on two acres of land for under $80,000 here in Florida.

Of course, since  I am a novice in the MHP realm, I have many questions about this and probably don’t know what questions yet to ask. However, how many plots could I fit on 2ac of land without being obnoxiously close but also maximizing the profit potential? 

@Jess WoodThose all sound like great criteria. How familiar are you with the area? Most will preach “Invest in what you know.”

I invest in the panhandle of Florida because I live there and Akron, OH because I grew up there. I know both areas, can develop relationships with key team members in both, and can tell if a property is a good deal more easily.

This isn’t the rule for all investors, but makes for a more solid foundation from which to begin. I don’t know much about Chattanooga  and wouldn’t know a good deal from a bad one, but have heard good things.

@Jess WoodCongratulations! It sounds like you have a great plan and are already working it.Have you decided where you'll be looking to invest and what REI strategy you want to begin with? This, of course, will go far to help you start finding your core team to help you towards greater financial freedom.

Welcom, @Kory AttlesonCongratulations on taking the first steps! There is plenty to learn but much of what you need on the way to building your knowledge base and forming the right connections can be found right here.   

Hi, @Erica MooreWhat type of property you choose depends entirely on what you want to pursue. If you're comfortable with SFRs, stick with it. If you want to begin scaling up, 2-4 unit buildings can still be leveraged with residential mortgages but lenders will require 25% Dow if you aren't occupying one of the units. If you change your mind and do choose to move into one of the units, you can get a FHA loan for lower interest and low or no money down.

  If bigger apartments is your future goal, lenders will still want to see that you have experience managing a small multi-family. It all depends on where you want to take your investment portfolio.  

Have you tied asking over in the Gurus forum? Someone may have already asked. 

Hey, @Eugene WuCongratulations on jumping in to REI. Don't worry. As you learn and gain experience, you will become more comfortable.

Don’t quit your day job. This isn’t a dig, but if you really want to feel what it’s like at the deep end, try learning and earning a living  in REIwithout the safety net of a stable income. In fact, it is best if you don’t quit the day job until real estate is making you more than the salary work.

Best of luck!