All Forum Posts by: Jason Flynn

Welcome Erik!

To add a keyword alert, click on Account up top, and then Forums and Keyword Alerts on the left, and then add away. I think you can do 6 as a basic member? (I dont remember for sure).

Good luck!

@Al Williamson i'm good with most dates before March 10th. After that it gets trickier with work, but I can try to make anything happen.

A note about using the VA loan:

What was mentioned before about "housing standards" is true, but at the same time, it's up to the VA inspector to determine what repairs would need to be done in order for the house to be financed with a VA loan.

When we bought our house, our realtor was very familiar with the VA process (also a Vet). He had pointed out several "problem areas" that a VA Inspector would run into when they did the inspection. When the inspection was over, there were no problems noted... Our Realtor was shocked. Apparently our inspector had gone easier than any he had ever seen. Basically it came down to the fact there were no structural issues, and there were appliances in the house (although they weren't hooked up, they were in the garage), so it passed.

So it just shows that you never know what you are going to get with an inspection. Certainly don't expect it to happen, but I wouldn't completely turn away from a property because someone thinks that it wont pass. Now if it has border up windows or a hole in the roof, that's a different story.

Capital City Wealth Builders. I found them on Meetup.

I've been one of those people that read and listen to everything, and haven't yet made any moves. Well yesterday I finally made it out to my first REIA meeting here in the Sacramento area, and boy what a great first step!

If you are like me and are "sitting on the wall", find the next meeting you can get to, and go. There was so much good information, and it is so easy to get in contact with the people you need to, its not even funny. I don't know how common this was, but at the beginning of the meeting the leader named off some occupations and asked people to raise their hands if thats what they do. Agents, lawyers, escrow officers, GCs, you name it. So right off the bat you know who to seek out during the social part at the end

The two guest speakers were awesome, and I walked away with a ton of action items. I also got a lot of information on THIS specific market. Trends/analysis, what marketing is working, etc.

So I just wanted to throw this out there that again, just get out there and do it! We hear that ALL the time on the podcast, and it is SO true. If you're afraid of talking to people, then don't talk to anybody the first time. Just go, sit in the back and listen. But if you want to talk to someone but are afraid, here's an easy icebreaker: "Hey, do you have a business card?" I asked one person that (a Realtor), and it turns into a conversation led by them.

@Al Williamson

Earlier you mentioned possibly doing a meetup in early March. Does that still look doable? I'm definitely interested.

Jason

That helps a ton. Thats how I assumed it would work but wasn't sure.

I might look at doing that for a longer term plan with some property, and then keeping some other properties outside of it for more immediate cash flow.

What happens with the rent money in a situation like that? Does it go into the IRA and is untouchable until 59 1/2 years old? Or does the property go into the IRA, but you can keep the rent money?

I hadn't heard about using a Self IRA for real estate until recently, and have been wondering that.

From what I've gathered from BP, turn key investments CAN be a good deal if you need to be hands off, but you likely won't be getting as great a return, as the company you're buying throgh will be the one getting the better deal.

I've been shopping for turn keys for some time and am interested in what people will recommend. Although you will probably need to be looking at which markets you want to get into.

I'm new myself, and have a similar budget to start with.