All Forum Posts by: Christopher Hall

I closed on the second home today and am very excited, I wish I could find a way to purchase a third home sooner than next year!

Is this meeting happening this year?

Also trying to be active in the greater Goldsboro area. Active duty military. About to close on my second home that we will use as primary residence then move out to rent it in a year or so. I also own a rental in the Nashville tn area.

Luckily I am working with two incomes, but neither of them is extravagant. I am active duty military on the enlisted side and my wife is a school teacher. Together we make enough to start making this all happen though. We are set to close on April 10th at a purchase price of 181,900 with my va loan. I expect the property to rent for about 1395 a month once we move out early next year and my mortgage will be right at 1100. Also this home is new construction so I am expecting very low maintenance cost for the next 5 years or so.

We have our second house under contract as of today! We currently have one rental and have been living on the military base but we finally were able to get ourselves into a second house. If all goes well next year we will buy a third and rent this one out. Then rinse and repeat. How many other people have accumulated rentals buy living in them for a short period then moving to the next one? Any tips for the journey? We hope to do one a year.

At this point it would have been better to keep the bitcoin than pay off the car!

I have a possible deal working for a 3 bed 1 1/2 bath in Greenville Nc. The seller wants to do a land contract, but she doesn't own the property out right. She has a mortgage through a local bank that she claims will allow such a deal. What are the chances they actually allow this? Also assuming that the bank agrees what would happen if she quits paying the mortgage even if I am paying her the agreed upon amount? Will the bank for close on the property and any interest I have in the property is lost?

Thank you everyone for the responses. I am waiting until I get to the location to actually see the property before I make any decisions!

@craig  

@Craig Garrow could you describe in more detail how exactly that would work, even if they financed 10% percent of it wouldn't I still have to put 20 % of 89,900?

@Jessie Tetreault I would love to connect, I'm not actually going to be there until may 8th at that point after I settle in from my pcs we should get coffee.