All Forum Posts by: Chavis Kendrick

@Nathaniel Cherubini thank you! Would this be a good 2 year plan?

@Scott Weaner thank you. Do you have any experience doing this?

@Nathan G. Are they usually pricey?

@Ryan Bianchi thank you, what kind of details would help?

@Dan Heuschele thank you! And wouldn’t the various cost be covered by the renters deposit?

@Amber A. Thank you for the advice! Did you use property managers?

My wife and I are trying to create a plan before we start home searching in August. My plan is to buy a 3 bedroom 2 bath family home that will have an estimate mortgage of $850-$880 with my VA home loan. We would have to live in it for at least a year but we will be living there for at least 2 years due to my current military assignment. Once we leave our plan is to rent it out for $1200 which is what I see the average family home being rented out for in this area. We were planning on using a property manager and just paying the $100 dollars or percentage of rent. In return we should make about a $300 profit to either pay more on rent or save. We will do this untill the mortgage is paid off or the house appreciates a good amount. Is that not a good plan?

@Mike H. Great info. So to make sure I’m understanding. You’re saying to buy a house valued at $160k for $120K And save that 40K in equity? We are trying to create a plan before we start home searching in August. My plan is to buy a 3 bedroom 2 bath fanIly home that will have an estimate mortgage of $850-$880 with my VA home loan. We would have to live in it for at least a year but we will be living there for at least 2 years due to my current military assignment. Once we leave our plan is to rent it out for $1200 which is what I see the average family home being rented out for in this area. We ere planning on using a property manager and just paying the $100 dollars or percentage of rent. In return we should make about a $300 profit to either pay more on rent or save. Is that not a good plan?

@Nathan G. Thanks for response. So even if we’re renting it out once we move to new location and having a property manager manage the property?

@Michael Dang are property managing fees usually $100 or a percentage of rent?