All Forum Posts by: Anthony Martin

I agree with @Joe Villeneuve I use my own as well. I can send you a copy of it if you'd like. The only thing I don't have on there is CoC, but I never really thought about adding it. I can give it a shot to add it and share it with you if you'd like, but it's far from a professional document. But it wouldn't hurt to try and build one off your evaluation style. That way you fully understand its fuction and useability and can adjust accordingly. Also, don't forget to check out the FilePlace under the Resources tab at the top of the page (http://www.biggerpockets.com/files) for tons of free shared documents from the BP community!

Anthony

@Pyrrha Rivers 

Congratulations!  It's wonderful to hear that you've been taking on the biggest challenge of getting started!  We all look forward to hearing your progress as you complete your renovations and begin the wonderful search for strong tenants and through the process of self-managing.  It's been a steep learning curve for me puchasing and filling a property with tenants from thousands of miles away, but we are all extremely capable of such feats and when we succeed in these tasks it only makes us stronger!  Congrats again and let us know how things continue!

@Aaron Junck 

If you mouse over your profile picture in the top right corner of the screen, a dropdown should appear.  Select Profile & Settings.  You should be able to update your information there.  Let me know if that doesn't work.

@Jay Hinrichs 

I was fortunate enough that my ex's step father let me fly right seat in his 1981 PIPER PA-42 on a trip up to Canada one weekend.  Unfortunately, that time is in my past, but it also drives me to my future.  ...an SR-22, though, that's amazing!!  Maybe one day I'll have the privilege in co/pilot one; they're phenomenal aircrafts!  I will be earning my Private certificate as soon as I return home from this deployment and my goal is to get it knocked out before the end of the year and I move out of the country.  The freedom of flying and the views are beyond compare.  I've already mentioned wanting to buy my own aircraft to friends and they just roll their eyes at me and tell me how ridiculous I am.  All I do is turn around and smile because I know I can make it happen!  I've always wondered how the controls are in the Cirrus, they look SO different.  How do you like it?

@Judd Campbell 

Letting go of your 996T has to be hard, but it should definitely give you a nice little roll to pick up a few more properties.  Any future plans for picking up a newer model?  Aston Martin would be a nice level to be on.  I've been browsing the availability on JamesEdition because I'd like to be in one myself in the future.

@Elyse Cordeau 

 That sounds like a pretty solid way to start.  I wish I had started with multi family, but the area I'm in isn't built up for that type of investment unless you are in the apartment level investing world.  Are you planning on self-managing, or hiring a PM in the future?

@Sam B. 

 Congrats on the purchase and the addition.  How do you like your 928?  I got a buddy in the local PCA (Ocmulgee Region) who's got a beautiful 928GT and a '96 993.

I was 23 when I purchased my first house back in 2011. I purchased it with a VA loan, so $0 down with a rate in the low 4%, refinanced a year later down to 3.25%. I initially bought it as a primary residence and I have had either a roommate or the entire home rented out since I bought it. I'll be closing on house number two in about three weeks with a second VA loan and will be owner occupying it until the military moves me again. After these two houses, my requirements for purchasing will be much more stringent and calculated as I'll need to bring more than $0 to the table :)

@Elyse Cordeau what are your plans to make your jump into this game? SFH, multi-family, flipping?

BP, I've missed you all!

Being deployed down range takes a bit of a toll on free time on occassion, so I have been on a small hiatus.  But I've managed to find myself with some downtime as of late which I fully took advantage of!  I just put my second property under contract! 

I've owned my first primary residence since June of 2011 and have been claiming rental history on it since about August of 2011 to help bring down my DTI for my next purchase (and it's paid off! DTI for the mortgage I just applied for was ~26%) I have a VA loan on my first property and am taking advantage of the 0% down to use up the rest of my entitlements. The only unfortunate caveat to using additional entitlements, that I recently learned, is that there is a minimum purchase amount requirement. So, I've sacrificed a bit of a more expensive property to buy in a higher rent area near a military installation which will greatly help to keep my vacancy rates low. @Elizabeth Colegrove has helped me with some great insight into her strategy (Thank you so much, and I'll be responding to your message shortly) So, I should be closing on this property in early September with first payment required in November.  I think if I play it right, I may never have to make a full mortgage payment on this house (pick up a temporary roommate until I PCS to a new location).

So, I think the real reason for this post is to try and figure out my next step for looking into property number 3. I'm projecting to move overseas in the next year or so, but I'd love to hear the opinions of others as to whether or not I should sit on these two properties until I move back stateside in 4-5 years, or if I should keep pushing to build my portfolio and how to potentially go about it.  Two mortgages and a small auto loan, which I hope to have paid off in the next two years, are the only debt I hold.  I've got a small chunk of change being held by my FA that I can sell off if necessary, but like most of us, I'd like to do it for as little out of pocket as possible. 

I look forward to any opinions/insight offered!  Again, I'm very happy to be back in the community, talk to y'all soon!

-Anthony

@Mason Keith

Welcome to BP! I've been in the Bonaire/Warner Robins area for about six years now. You are correct that Bonaire is not the place for multi-family properties. It's primarily your higher income area. That's also my target market for SFH. Feel free to drop me a line if you have any other questions about the area!

Anthony