All Forum Posts by: Austen Mueller

ask investors in that area on BiggerPockets! 

1. @Kevin Kim
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4. @Kevin Kim
5. @Kevin Kim
6. @Kevin Kim
7. @Kevin Kim
8. @Kevin Kim
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10. @Kevin Kim
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15. @Kevin Kim
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22. @Kevin Kim
23. @Kevin Kim

Note that a property does not have to meet all these requirements. If it did you might be looking at new construction and it might not be a deal at all.  These are all items that will add value to the property. Its the job of the investor to determine if it has enough good qualities to purchase it at said price to achieve the return the investor wants. Its a balance and will take time to figure out what works best for you.

Hope this helps 

Thats hard to say. But I recommend not getting to wrapped up in this part. If your going VA, you will have to live there at least for a year. That should narrow your search down. People are investing in cities all over the country. To find a place to invest it just has to meet some basic requirements. 1. You have to be able to afford it. 2. Make sure their is enough demand for this market to support owning rentals. 3. It helps if its appreciating or up and coming. A lot of markets meet these requirements. I would decide on a location that makes most sense for YOU. Also consider how you will manage the property after you move again.

Where do you live now?

So as far as market selection goes, that will be determined by a couple factors.... You want to find a market you can afford, is appreciating preferably, and commands high rents. I like This site for getting an idea of appreciating markets. For rents you can use zillow, apartments.com, and rent-o-meter. Once you choose a market its good to get to know it. Not every block is the same and that's where an agent can help you navigate. I also suggest using This Link to give you an idea of what areas of a market you should stay away from, Unless that's what your looking for.  

In todays day and age we can invest anywhere in the country. You just want to make sure you hire a trusted property management company. Be aware if you will be doing rehab and repair finding a trusted contractor to do the job can be tough! What state are you in??

Hope this helps! 

Buy another condo and move into it. Then rent out your primary residents. This way you don't have to pay the unfavorable rates and get income from your first residents. Or are you able to leverage the equity out of your current residents with a cash out refinance and do something with that. That will depend on the terms of the refinance and prices in your market unless you invest it into another market where your money may go further.  

Work on your credit and save for a down payment. I suggest looking into Househacking for your first deal. Buy a multi unit and live in one of the units. Let the mortgage company know you will be doing this and they may lend you more money. 

hard to tell how you got your "expense" I would increase that vacancy number to 8%. Make sure your accounting for Taxes, Insurance, Utilities(if needed), Maintenance, initial repairs, management. And make sure you know your rents!   

Welcome to BP! Sounds like your best bet would be to buy a personal residents and househack or live in that property and rent out your old one. not sure if you meant to say 100k or 10k. But 10k is not much of a safety net. Depending on your situation you could consider using equity in your current home to purchase an investment or use money out of a Roth IRA. Hope this provides some guidance! more info would help. Feel free to shoot me a message.

I have not used them. I work with them. Home 365 is my new brokerage after the merge with SlateHouse Group. 

That sounds like a wise decision. Best of luck!