All Forum Posts by: George Calbert

Welcome Amy

@Dillon Dean
It all depends on what your long term goals are and how much time you have to invest. The question that you need to ask yourself is; how much is my time worth? Over a year, is 12-15% of the gross income from rent worth the time you will need to invest in managing the property yourself? If the answer is yes then get a property manager, if the answer is no then doing it yourself.
There is no cookie cutter answer for this question, only you know what your time means to you.

George

@Mark Ho
The advice I have been given is: it depends on what you need to protect. If you have a net worth that needs protection, then do it. If you are starting out with limited net worth you might not need to do it. It is a personnal decision that I would consult a Accountant to see if it is worth it.
George

I would get a Real Estate Agent to go look at some house in the neighborhood to see what the neighborhood supports. Then get that level of items. You don't want to put a granite countertop if that is not the normal. 

If it meets your goals, Who cares what their motivation is. 

I would run the numbers one more time with an independent source to second check my work just in case my emotions have clouded my judgement.

George 

Welcome James, Good Luck, 

What is your long term goal? 

George

Good Luck Steve, 

Personally if I had $1000 a day, 30 K a month coming in, I would think about being a hard money lender while waiting and reaping the rewards of the higher interest rates while building your cash cow.  

George

@Josh Caldwell and @Aaron Trommater
Thanks for the advice. The more I am looking at it, I want to do flipping, but I know that is not feasible while overseas. I think the turn key with a reputable property manager is the route I need to take. I feel that I am on the right site to find the property manager; do you have any recommendations on what locations would be a good spot to start? Thanks for all the advice.

George

In the Navy stationed oversea's. I currently have limited capital. What is the best tool to passively invest and build up the nest egg while I am out of the country?

BP Family,
I am in need some advice if I should form an LLC now or when I return to the United States. My scheduled date to return is summer 2017 timeframe.
I am in the Navy stationed in Japan, I own a SFH in WA State. My goals right now is to start saving for REI and educating myself.
The SFH was my primary residence until I transferred to Japan in 2012. I am renting it out with a property management firm. I am negative cash flow on it. Are there any tax benefits that would be beneficial for me to start an LLC now. If so, are there any recommendations on where to form LLC at due to me being overseas at this time? Or should I wait until I am ready to pull the trigger and start my REI.
Thanks
George