All Forum Posts by: Henry Clark

Suggestion. Make a separate post.  Military Offutt Omaha investing. See who responds to you. 

Don't drag your spouse thru REI unless they want to. But show them the math. You want to be netting $50,000 after taxes every two years.

1.  Use your BAH base allowance for housing.

2.  If married you can exclude $250,000 each in capital gains if your primary residence.  

If you decide to have a great car, great house, great everything you will be in debt like everyone else.

3.  If no kids do a nice trailer and lot.  Say $70,000.   Pay say $40,000 over 2 years. Sell it for the same you bought you pull in $40,000.  

Make a post in here and ask for fellow Military investors.  

OP use the lookup for my post.  Self storage zoning.

1.  Look at a zoning table and see what is possible in each.   Even with special use or variance.
2.  Look at a zoning map.  See if the needed zoning is next to your property.  Commissions don’t like to do Spot zoning changes.  If next door not Spot zoning.

3.  Get the future planned zoning map.  Seeing your property is in the correct zone in the future.  They will be more amicable to change yours.

4.  Check the setbacks, landscaping and parking requirements for your project.   Will it fit?  
5.  Check with the Planning group on the need for this type of project.  

Are you military?  E5 or higher?  Use your BAH and others BAH.  Get the biggest house you can afford and rent the other rooms out to military with BAH.

1.  Let’s say your deal analysis comes out to zero.  And you sell it for the same price.  You stay there for say two years.  You make all of the BAH payments back tax free for you.

2.  Worried about no pays or damage?  No issue.  Get their commanding officer and they will have them make it right.  

3.  Find a military friendly realtor for lower commission fees if possible.  

4.  Buy the worst house in a great neighborhood and fix up.  Find three properties and make offers on all three at once subject to.  Make good offers for you.  

5. Look at properties that you can ADU or split property off. Example 3/1 you can add a bathroom. Or double triple lot property.

6.  Look at only listing older than 3 months.  

7.  Use another realtor who will be your friend when you sale as your buyers agent.  This is free money for them.    

8.  Check out Hawaiian village, Papillion great school district, etc.  Pick a property that is special.

9.  Go to military Facebook group.  Make a post here with Military and Offutt in it. 

10. VA loan. Check with credit union. Ask them for advice on neighborhoods, realtors, or properties they may have for sale.

 If you don’t see a significant issue then not an issue.  

OP are you looking in Texas per your byline?  Are you looking for the property tax income or the property itself?  

Start Defamation of character lawsuit also loss of income.  If you win out a lien in her house.  Post in her local communities legal section.  Let your attorney know you are real. 

My brother has a saying kids don’t learn they absorb.  You just don’t know what.

Some recommendations.    
1.  Have a realtor walk thru their commission breakdown.    
2.   Have a realtor take him thru a close document package.   
3.  Make a buy at a Nebraska Tax auction on just the taxes.

4.  Have him post a deal analysis on BP and ask for input.

5.  Get the Rich Dad Poor Dad game.

6.  Spend a day at a Habitat for Humanity building a house.

7.  Walk a house that is for sale.

8.  Spot him $10,000 and do a Texas off list tax sale for land, not a house.  Not at an auction.  You can research these online. You can call my brother in Italy and then me on what type of properties to look for.  If he starts now he can buy his own car for high school.  Then pay for college.

9.  If he is into commercial I can walk him thru Selfstorage or country subdivisions when he is off for Xmas break. 

10.  So all of this again in 2 years.   Let him absorb more and he will keep narrowing down his path. 

Made a response to another post.  Here is a checklist for land investing.  Take it and add more items to it.  Make it yours.

Scout Troop 243 Glenwood Iowa. Make a $1,000 tax deductible donation. For replacement canoes that got damaged by straight line winds.

“Free” land investing info, try to make donation above.

1. Have a purpose for the land. Don’t ever invest and hold. Taxes, interest, insurance and maintenance will eat into the profit.

2. Always approach as a developer with a specific usage. Housing lots/ subdivision, self storage, commercial, parking, rv park, etc

3. Validate zoning, potential special or use variance, future zoning map, neighboring zoning. Versus 2 above.
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4. Deal killers. Validate planning zoning requirements and access to utilities. Storm sewer, storm pond, sewer lines, water access, fire hydrants, public bathrooms, surface coverage, sidewalk or bike paths, setbacks, power lines and right of ways known and unknown, road access, etc.

5. Deal makers- development potential, vehicles per day, road ingress egress off highway, signage potential, multiple road accesses, value add potential- housing- trees, boulders, ponds, walkout, views, right side of town, power-line right of ways, etc

6. Deal sourcing- if you’re willing to search regionally, don’t ask anyone to sell that isn’t already in a sale mode. “ No marketing.” Loopnet any deal older than 12 months, Tax GIS consistently late or 6 months past due, any property that changed hands thru probate after 12 months, Texas property tax sales land only not at auction just offlist properties, etc

7. Financial objective- 100% to 400% cash on cash or don't do it. Adjust return based on holding time and risk reward. If it pencils to a 25 to 50% profit or COC don't do it.

8. Time clock- once you do the deal you’re on the clock. Every hurdle hit it and solve it.

9. Learn to drive a skidsteer and use a chainsaw. Get excavator and a surveyor on speed dial.

10. NASTY- look for Nasty properties. They will make you the most profit. 10 acres with 1970 house. 5 acres with cattails. 10 acres with hill. 60 acres with ditches, scrub trees, etc. Horse stable in the middle of LA, 20 acres 1/2 swamp next to major airport in Florida, church with 6 acres in the middle of town, contact bank Trust departments and let them know you want to buy. Use your imagination.

You ready. Land has been for sale 100 years with no for sale sign and you drive by it every day. Look on the GIS tax maps for any railroad land and make them an offer. The greatest piece of railroad land in the U.S. is for sale, you just have to ask.

11. Financing- build a relationship with a regional banker, don’t shop for interest rates, start small and build history and loyalty they are your team, Cross collateralize, deposit CD/MM or custodial account with bank for loan, give them monthly updates, nail your deal analysis, do stress tests on your deal analysis-cost/interest rate/deal length/ sale price etc.

12. Jump off the cliff or Analysis Paralysis- define failure. See stress tests above. Don’t let your imagination run wild Compute failure. Most people fail due to imagined failure and not success.

13. Don’t talk with your spouse unless they want to, not your friends or coworkers, not your family. You’re either a snob or they will tell you how you will fail.

Guarantees? - whoever reads this. There is no way you don’t do a deal in the next 6 months. If you fail, it’s on you. Remember to make a donation.

Start small and make your big mistakes early.

Use your imagination on the piece of land.