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All Forum Posts by: Andrew K.

Andrew K. has started 7 posts and replied 239 times.

Post: Lackland Buy and Hold

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

John,

  Congrats on the deal!  The place looks great--not surprised that it rented quickly.  How did you market the rental listing?  Any tips on listing a home for rent before all the work is complete?

  Do you self-manage or use a PM?  Being close to Lackland, are your tenants military/government employees?  

I was really close to buying a SFH near Lackland with the intent to use it as a STR--renting to families of BMT grads. Timing is everything with the STR market taking a hit due to lockdowns this year. Still an area of town I'm very interested in!

  Congrats again!

-Andrew
 

Post: VA Loan Explained to First Time Home Buyer

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

@Liz Collier you've gotten tons of great feedback here regarding VA loans. As @Matthew Rayl says, do your own diligence.  Good thing is that you have time before you make a purchase, keep learning as much as you can about the process and you'll be well prepared to buy your first property.  

Start with the actual authority on VA loans--the VA itself, linked here.  The site discussed the loan requirements, process, funding limits, etc. Once you're familiar with the product, you'll be better prepared to speak with potential lenders.

  I also second @Dominic Franco's suggestion to consider purchasing a small multi-family (2-4 units) with a VA loan. A great way to start! You can also consider purchasing a VA foreclosure, more to learn about this process--but it's totally doable! You can search for VA foreclosures here (as well as USDA, Fanne/Freddi Mac, etc).

Remember that your experience with closing a VA loan is not with the VA itself--it's with the lender providing you the loan. So people's individual experience regarding closing timelines (30-45 days), paperwork requirements, hassle/headaches, etc is largely the product of dealing with their chosen lender. I also recommend that your husband asks for VA lender recommendations from his co-workers. You'll probably get a good list of options.

  You're off to a great start.  Best of luck and please keep us posted on your progress!

-Andrew  

Post: Looking for connections in NC

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

@Justin M. welcome to BP!  You've gotten quite the welcome to the community.  

  I moved to San Antonio from Fayetteville last summer.  In fact, I lived in Fayetteville for a total of 9 years. More than happy to link-up to talk about the area and pass realtor & PM contact info.

  Just a word of caution--NC real estate may seem "cheap" compared to CA & TX, don't go on a buying spree thinking you're getting amazing deals there!  Learn the market and "retrain" your brain to what the local market prices are, then start buying!

  Best of luck. 

  -Andrew   

Post: Out of state investing = paralysis by analysis

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

@David Olson lots of great feedback on this thread. You’ve got a lot to think about.

Consider this approach: remove the cities without warmer climates, put the remaining cities in a hat, and then pick two. Then deep dive on those two and book your flights. Set a timeline (say next 30 days) to make the decision and don’t look back. Flip a coin, go with your gut, have a friend decide for you, whatever works to keep forward momentum.

Once decided, tell BP, build your team, and keep us all posted on your journey. Good luck!

-Andrew

Post: where do you get contracts made

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

@Account Closed a couple recommendations for you. Scroll to the top of the BP website, click the "Tools" link, then click on "FilePlace". Near the top of the page click on "contracts".  There are some generic contracts in there, but use the search tool and look-up your state.

 Another option is to go to your local closing attorney/title company and ask them for a copy of their forms. 

Hope that helps!

-Andrew

Post: Vacation Rental Financing

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

@Michael Baum wow! This is one of the best, most complete replies regarding STRs I’ve read on BP by far!

Incredibly insightful, thanks for taking the time to share. I've updated my STR criteria list based upon your input. Thank you!

-Andrew

Post: Does the BP app send notifications on iPhone?

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

@Taylor Chiu notifications have never worked for me either. That and the app doesn’t seem to sync with the site that frequently, seems to be almost 24 hours behind sometimes. I’m sure it’ll improve over time though!

-Andrew

Post: Diligence pays off: Lessons learned closing a 224 unit Apartment

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

@Todd Dexheimer you are a beast! Thanks for sharing the details on this deal. Incredible example for all of us to follow—you committed to a goal and kept at it. Awesome!

-Andrew

Post: Fayetteville, NC Property Management Company

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

@Samuel Lynch I have a recommendation and a list of companies to stay away from! Feel free to PM me for details. More than happy to help!

-Andrew

Post: Off to the Races! Have first 5 bookings confirmed

Andrew K.Posted
  • Rental Property Investor
  • San Antonio, TX
  • Posts 266
  • Votes 157

@Kerry Baird congrats! Please report back to us with how things go!

-Andrew