All Forum Posts by: Adam Powell

I'm looking to see if there is an opportunity get more experience in the real estate world on a part-time basis. I'm in the Navy and have been for 15 years. I'm unsure about going past 20 years and either way intend to acquire real estate and rent it out. I'm focusing on single family deals with a buy and hold plan. I'm not really focusing on the San Diego market due to high prices but really just want to get some experience while not being a burden.

I live about an hour north of San Diego and the commute can be brutal which got me thinking about trying to find something flexible I could do after leaving work in the San Diego area while either waiting for traffic to die down or just crash on the ship for the evening. I'm not looking for a typical job due to my actual work schedule/demands. There are days I have to work late, stay all day and the various Navy related duties but like I mentioned earlier would like experience/exposure while helping out/not being a burden.

My wife and I have two rental properties and our primary residence so I'm not completely new to the world of real estate but when it comes to investing I'd consider myself a newbie. I've been listening to the podcasts for quite a while on my hour+ drive each day as well.

If anyone can point me in a direction or would like to contact me please feel free to send me a message. 

I also have  a garden and chickens so maybe a little fresh produce could sweeten the deal!

Thank you,

Adam 

JD, I meant that it was paid off and it now has the mortgage from the rentals we acquired so is no longer free and clear. I plan on the next investment to cover the increased mortgage payment and would like to continue to use the equity to accumulate more properties. Just gotta convince my wife so am trying to consider all options and get better educated about the pros and cons.

I’ve been a member of the group for two years now and got greatly side tracked for a while. I’m back and my goal is to acquire another rental property by The end of March 2019. I’m re-educating myself and searching for the “gem”. I’ve been looking at funding options and am considering pulling cash out of my primary residence to fund the next purchase. Our primary home is paid off and appraised for about $1m. We have a mortgage on it from our last rental deal where we purchased two separate units. Current mortgage is $121k monthly payments are $1,800ish including our primary residence property taxes. I know we’ll get approved to pull cash out but my concern is that we’re adding debt to our residence...I know we’re sitting on some solid leverage but am hesitant to continue pulling cash out of our primary residence. The two rental units are appraised at $70k and $160k and are free/clear due to the mortgage being on our primary residence. Any thoughts or guidance? What would y’all do?

Thanks for the great responses and resources everyone. This has really helped fuel the fire!

Hello everyone! I'm new to the forums and have just started listening to the podcasts. I'm glad I've stumbled on this forum. It all started with an Amazon search for a new book when I found "The Book on Rental Property Investing". This got me onto the podcast, which I listen to on my way to and from work (I drive over an hour each way so I'm getting a lot of excellent knowledge). I'm just about halfway through the book and will need to read it a few times to really dial in my plan. 

My wife and I live in Southern California (Murrieta) and have a very nice house with 5 acres, paid-off, with two rental properties in my home town of Crescent City, Ca. It's a small town in northern California that we know and can afford. We purchased our rentals a couple years ago with limited research on finding the "diamonds" and I haven't ran the numbers yet to actually see how we are doing. Our reason for buying the properties was to supplement my brother-in-law's income and to help us support him...long story but it's all working out. He lives in one of the houses so we're not pulling an rent from that one but we're also not paying rent on a house for him. The second house is right across the street and is a little one bedroom with two very happy tenants. Both properties are zoned for two houses so we're considering eventually putting a second house on each. 

I'm in the Navy and have another 7 years until I'm eligible for retirement. I've started to get into tax preparation and intend on doing taxes and rental investments to supplement my pension from the service. My end goal is to be able to what I want, when I want...probably surfing, golfing, gardening, and building whatever comes to mind.

 I plan on purchasing my next property around January 2018. Until then I'll be all over the forums, podcasts, and books!