All Forum Posts by: Account Closed

Mindy Jensen Carter Rinaldi puebloriverwalk.com. Here you go, do some research. Also do you research before investing in Colorado Springs or Denver. You should pretty much do you research anywhere you invest, wondering why moderator feels the need to jump in and explain that.

@Account Closed Yep if you're VA eligible that would be a huge advantage for you. One thing to keep in mind is that the VA loan does require some landlord experience in order to count your rental income from the other units as qualifying income. Have you ever owned any rental properties or maybe worked for a property management company? Anything that has a link to being a landlord or managing properties could potentially be used to me the experience requirement if it makes sense to an underwriter.

I have been in the Marine Corps for 15 years and have purchased 5 rental houses, am doing some flips, and am looking for more. You are correct in saying that you will not be given a housing allowance and will not be permitted to live out in town until you are either married or a SNCO, sometimes a senior NCO. That could be 7 to 10 years into your career. That only prevents you from owner occupied VA investing but you can still invest in pure rentals, wholesale, or whatever strategy fits your plan.

When it comes to education you have found the treasure chest of knowledge here at BP.  I would suggest you begin by reading the Ultimate Beginner's Guide https://www.biggerpockets.com/files/user/brandonat....  That will give you the terminology, rules of thumbs, and basics on analyzing properties so you can begin to focus your effort towards topics that interest you.  Listen to every podcast on BP and join the webinars.  

Once you have a base of knowledge then you should start analyzing deals.  Use the BP calculator or whatever you find useful.  I use the Deal Check app from my phone for a quick tool at analyzing properties.  Start to save money and position yourself financially to be able to take advantage of your hard work and education that you have gained.  Set For Life by Scott Trench is a good resource for embracing frugality to prepare yourself to invest.

Feel free to connect with me whenever.  The Marine Corps can both provide good opportunities to invest and present unique problems that will make investing difficult.

yes, that is why I said wait until you get your duty station

I think the obvious answer is that if you can't afford to invest where you live, invest somewhere you can afford. I don't know anything about pueblo but if prices are reasonable and it's a place you can cash flow, I don't see any reason not to Invest there. My first requirement for a rental is "would I live in the neighborhood?", so if it's a decent area, start looking. If it continues to make you money, there may be no reason to sell at some point to invest in your current city.

I'd probably not live in any Pueblo neighborhood if I could avoid it to be completely honest. Not the nicest area of the state. Is it normal to have to look at lower income areas to avoid costs like that of Colorado Springs? Having to put $73,000 down starting out just seems absurd.

Why wait two years?  My daughter is in the military, she bought her house as soon as she got her permanent duty station.  She is getting ready to move overseas.  She is planning on selling it, and have me reinvest it in my area so I can manage it while she is deployed.    

The sooner you start the better you will be. Make sure you continue to analyze some deals and then find a deal and make an offer. I would recommend waiting until you got your first assignment, you can use your VA loan which will be a smaller downpayment and your BHA will probably cover your entire payment or a good portion.

Thanks again for being willing to serve.