All Forum Posts by: Kevin E.

I know this is an old thread but it's been awhile and I wanted to throw in a +1 for @Curt Davis and Alex Craig. These two helped get me into a property about 5 years ago. Curt was instrumental in brokering the deal and Alex's crew is managing it to this day.

The only thing I wish I did differently was throw more eggs in that basket 5 years ago!

Congrats @Clayton Crawford! While I don't have specific advice on your question here I will offer some support on the GI Bill front. I am in my final class before graduating with my MBA thanks to the Post 9/11 + Army College Fund. For many people, trying to clep out or waive classes is beneficial in regards to both time and money but with the Post 9/11 it will actually mean you collect less in the long run. I opted to take all pre-reqs as a refresher before entering my core classes because 1. It had been awhile since taking Math and English classes and 2. I was getting paid to do so through Post 9/11 and ACF. Whatever you do just be sure to take full advantage of that GI Bill, you earned it!

I think that people in general are attracted to coastal communities.  If the "big one" strikes the coast will be rebuilt by developers under new building codes requiring earthquake related safety measures and prices will still be high.  The articles that are now emerging about the Cascadia Subduction Zone also note that these kinds of events are normally hundreds of years apart for this fault.

I think if you have money at the time you will be able to purchase cheap wasteland to build on after insurance companies pay out current home owners but the cheap prices won't last through the initial rebuilding.  Of course this is all my unprofessional opinion.

@Travis L. I was faced with this same decision about 5 years ago and chose the 15 yr route. As soon as that property became a rental I realized the mistake I made and had a negative cash flowing rental for about a year until I refinanced to a 25 yr (VA loan IRRRL). Like others have already addressed, the problems I faced were DTI for future purchases and low (negative in my case) cash flow. Once I refinanced I was able to purchase another rental. (Thank you @Curt Davis for being awesome and helping me through this!)

@Roy Schauer that was the draw to the area for us. I bought it brand new when I was stationed with the 4/25 knowing it would be a rental down the road. It was nice getting 0% down VA loan and having the BAH pay the mortgage while I was in and a tenant pay it plus some while I am out!

@James Cash that is what I figured.  As a distant owner I think I would rather steer clear of that area.

I get the feeling Wasilla or even Big Lake area would be the next growth opportunity, especially if the Knik Arm Bridge goes in.  Better yet, be the first to start developing Point MacKenzie!

@James Cash do you ever work in the Mountain View area?  I have a rental across the Glen off Turpin (Whisperwood Condos) that does well.  I personally wouldn't want to live in MV but the price point is a lot better if the area isn't too bad from a PM perspective.

Congrats! What are you doing with the extra $220? Paying extra to get out of PMI or saving for the next investment?

I have to admit, I have been here for awhile without a profile picture until hearing you talk about that.  Mid podcast I posted my mug from my LinkedIn.

@Joel W. thank you for the recommendation of areavibes, I really like their top 100 cities tool.  While I was looking in the Memphis area before using areavibes I stumbled across Bartlett and thought it looked like a good area which was confirmed by that site.  I did a search based on livability score of cities with 50,000+ population then kept only B and better for cost of living and crime rates which narrowed it down to about 15 areas to further investigate and Bartlett kept showing up.  I think I have a strong candidate for a target market.

Does anyone out there have any kind of spreadsheet or market analysis tool they use to find their target market?

I have been looking into out of state investing and have had many turnkey providers reach out (thank you) but I am not at the point that I even feel right taking their time yet. I want to find the market that fits my strategy best first and then speak to professionals in that market.

I think I am more comfortable paying a little more for properties in nicer (B+) neighborhoods with good (rated 5+/10) schools with a modest cash flow where I have a better chance at long term tenants that take care of the place rather than a C-ish neighborhood with a lot of turnover and crazy high (2% rule) returns.

I have been looking at the major markets like Indianapolis and Memphis as well as where my current home and rental are (Anchorage, AK and Vancouver, WA) and am finding that I will probably be in the suburbs rather than the city.

All this being said, I would love to get my hands on a tool or suggestions on how to set one up to analyze these areas to find the best one for my situation.