All Forum Posts by: Allan Rosso

@Sergiu Ionita, becoming a realtor is definitely something that has crossed my mind a few times. I'm just a little worried because of that very same reason you mentioned, its not a W-2, so I feel it might slow down my investing in the beginning. Either way, if I decide to go that route, I wont have a choice but to figure it out!

@Seth Borman @John Place, yeah I'll definitely look into that. For whatever reason we all believe that you can't change degree paths between undergrad and graduate degrees, so if that's wrong, I definitely want to educate my people on it.

I have looked into the Florida Guard down at Patrick AFB in Cocoa Beach. I need to get into contact with a Reserve recruiter so I can decide which one to do once I separate from active duty.

I got that 10% discount at Lowe's, and I use it anytime I need anything for my rental or primary residence. Biggest purchase was buying all new appliances for my rental while I was renovating it. That 10% off was definitely nice! I'll look into the reduction you mentioned for taxes on my primary residence. I'm currently shopping local CPA's, so I'll bring that up for sure.  

@John Place, I have an associates in Applied Sciences in Metals Technology using Tuition Assistance, and I'm about 65% done with a bachelor's in Project Management (I may look into switching over to Project Management with an emphasis on the Construction side of things). It is my understanding that undergrad and graduate programs must be in line with the degree you've already earned in order for the GI Bill to cover them, so I'm not sure I'll be able to take a graduate level real estate program. I definitely like your idea though. I know there's a class at the Education Center on base that explains how to use your GI Bill once you're out, so I'm definitely going to schedule it and take it.

@Michael Guzik

@Michael Guzik

@Michael Guzik, I've been in the military for 6 years now (7 by the time I get out), and it's just time for me to move on. I ended up extending a year because I picked up my investing towards the end of 2017, so another year in a stable job will allow me to continue to do so. I'm going to take full advantage of 2018, in order to prepare myself for whatever comes next, without having to take a break from investing once I'm out. To be honest, we're leaning towards Orlando simply because we like it there. It is definitely more expensive than where I'm at, so I plan on using @David Greene's book to study the market and set up systems, so that I can start investing down there before I even move there.

I'll be separating from the military in a year, and although I can get a decent paying job in my current career field (Welding and Machining), I would rather get into a real estate related job. My wife and I are leaning towards moving to Orlando, FL, and no matter what W-2 job I end up getting, I am going to continue snowballing my investing.  

What are your experiences transitioning from a career field you know and are comfortable with, over to a Real Estate related job? And what job did you transition into?

Even if you have never gone through such a transition, if you come across this post and have any advice or feedback, please feel free to post.

I would love to hear from all of you!

Allan

@John Knisely in all honesty, its really no effort at all. Once you get used to doing it, it only takes but a second.

@Felipe Munoz, I gave MileIQ a shot, but I started getting frustrated with the fact that the app would confuse red lights for "end of trip", and it would create a mess I had to figure out later. Have you ever run into that @John Knisely? If so, what do you do to prevent it?

What I personally do now, is take a picture of my odometer, and/or reset trip A/B, at the beginning of my drive and note what it is at the end of my trip. I keep an agenda calendar on me where I make that note immediately, so that I know exactly what I was doing and how many miles I drove.   

@Nile Reavis, no problem at all. Definitely reach out if you have any more questions. Goodluck with that offer!

@Nile Reavisyes exactly. If your offer gets accepted, then the contract will be signed by both parties, and then you will give your earnest money deposit. As long as you back out before your contingency period is over, you will not lose your earnest money deposit. 

In my experience, the contingency period is usually 10 days, and common contingencies include pending the buyer obtaining financing as well as pending inspection. However, you can add any contingencies you want. For example, pending the appraisal coming back high enough to satisfy you. 

Just make sure you read the contract and fully understand it before signing it. That way you can make sure to decide to back out or move forward while you still legally can. Also, if you want any special contingencies or terms included in the contract, make sure they get put in there as well before it gets signed. 

Nile Reavis what I believe the agent is asking for is the earnest money deposit, which is common practice to provide. However, I've never gave the earnest money while making an offer, I've always given it once I've gone into contract (there's usually a time frame you must have the money turned over, so it's definitely good practice to have the money available when making the offer). The money will then be held in a trust or escrow account, during the inspection and any due diligence period. If you are to back out of the contract during the allotted inspection/due diligence period, you should receive it back. Ask for clarification from the agent on whether or not it's earnest money he/she is asking for, and if so, ask why it's being required to make an offer. Allan

@Sam Leon, 

Is there anything on your lease regarding pest control? My lease agreement states that after 30 days, the pest control becomes the responsibility of the tenant. If you don't have anything in there about that, there has to be something about the cleanliness of the home? I'm pretty sure piles of cat food cans don't fall within any landlord's standards of cleanliness. Definitely don't think you should be eating that cost. 

Allan