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All Forum Posts by: Andrew K.

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

Post: Will the US Army's recent drawdown announcement affect your market?

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

@Alexander Felicethanks for the encouragement.  We'll keep at it!

Do you primarily purchase properties from the MLS? Or do you have your lead generation pipeline (website, direct mail, etc)? I've seen a few ads on craigslist from wholesalers. I may reach out and touch base with them, you never know if they'll have something interesting.

Thanks!

-Andrew

Post: New Member From Connecticut

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

@Robert Perraultwelcome to BP! How did you find the site? I recommend checking out the podcasts, they're a great way to get exposure to the entire REI spectrum. Check out this podcast for more info on investing in raw land: https://www.biggerpockets.com/renewsblog/2013/10/1...

Happy investing!

-Andrew

Post: hoarder flip we did last year

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

The pictures are like a train wreck, I just can't pull myself away!  I want to see more.  The whole hoarder mindset is fascinating.  Not sure what makes people keep so much stuff, but good on you for getting the deal!  Glad to hear you were able to pull some treasures from the place too.

Post: Will the US Army's recent drawdown announcement affect your market?

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

@Alexander Felicethanks for confirming my suspicions on how competitive the MLS is here. I take the competition as a good sign. Do you think the multiple bid scenarios are due to the season? Meaning, are people like yourself wanting to get projects going now so they're done for peak selling season?

I just need to step my game up with writing offers!

Thanks.

-Andrew

Post: How to Make Money in a Falling Market

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

Don,

I just wanted to say, thanks for the well reasoned and thought out reply.  I can appreciate Billy's concerns and I think you provided great information. 

It seems to me that everyone must understand their own risk tolerance and develop and implement a strategy that supports their position.  Similar to the use debt or pay-off property conversation. Do you like debt and value it's ability to be used to create additional wealth? Or do you enjoy the peace of mind that free and clear holdings provide?  

I'm still working this out for myself.  Thanks for the primers to help figure it out.

-Andrew

Post: Profiling Indianapolis

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

Just cruising another area of BP and came across this:  https://www.biggerpockets.com/forums/99/topics/277...

Hope it helps!

-Andrew

Post: Will the US Army's recent drawdown announcement affect your market?

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

It's been over 2 years ago when I first posted this and wanted to provide a brief update.  

My CO property has seen a good amount of appreciation.  In fact, it's finally valued above what I originally paid for it back in late 2005!  I've heard similar accounts from other military friends that own property in Colorado Springs, they're seeing the positive effects of the strong market.  In fact, one buddy is considering selling and taking advantage of the appreciation.

Unfortunately, my home near Ft. Bragg, NC isn't fairing so well. I bought it near retail price in 2006 and it's steadily decreased in price since.  The small neighborhood has seen a decent amount of foreclosures also.  The house rents well, but I know I could do so much more if I didn't have this goose around my neck.

I am stationed back in the Fayetteville, NC market and am building a REI team to fix & flip houses. A co-worker, his real estate agent, and I are actively bidding on REOs here. Unfortunately, we've seen multiple bid scenarios with each property so far--and haven't gotten that first deal. It's frustrating, but it is making me work towards building a real deal flow/funnel.

Anyone else here in the Fayetteville, NC market having similar challenges to finding deals?  Any suggestions to build a lead funnel?  

Thanks and happy investing!

-Andrew

Post: Profiling Indianapolis

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

I like the idea of building a resource/directory for metro areas that have a significant amount of investor interest/activity.  Maybe this idea can be turned into a unique feature that BP offers.

Check out RAMS Investing (@Jason Royer), they're crushing it in Indy.  I'm sure they can offer a bunch of advice and info to meet your need. 

Good luck!

Post: getting rid of toxic assets

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

Steve,

I'm active duty myself and it pains me to read your story. It sounds like you had plenty of foresight early on that RE investing would supplement your retirement. Unfortunately the situation with your PMs has taken a toll.

You didn't provide any details on how these properties are financed. I'm sure you've looked into refinancing/spoken to the lenders about your current situation. Seems as though loan modifications could be in the bank's best interest.

I'm currently in the DC area, so if you need a set of eyes on the ground let me know. Best of luck to you.

Post: Renovated home for sale in Fayetteville, GA

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

Ben,

The house seems nice, however there aren't many pics! The Redfin ad only has 5. Would be nice to see more of what must be a nice rehab.

Is that a Red Bull can in the overview shot of the pool?