All Forum Posts by: Jace Thornton

@Kevin Fox,

I did not know that I had to put the @ symbol in front of your name and I thank you for informing me of that. Thanks for letting me know how you get these numbers. I was looking for a cost effective way because I will not be doing this all of the time. I am looking to find a home that I can owner occupy right now. I want to find one that is in need of some work that is not on the market at this time. I am keeping my exit strategies open if I do find a deal that I want to pursue. Thanks for the tips. 

Kevin,

Are there some specific questions you ask when you are searching for properties not on the MLS?

Awesome. Is there a common methid that people who are cold calling use to get the numbers of the residence?

I was driving around a section of town that I want to invest in and found some properties that appear to be vaccant. I have the addresses and looked up the tax information. What are the best ways to get in touch with the owners? Any advice. Thanks.

William I always enjoy your insight on my questions. I have one more question though. When you say the bank requires two years of schedule E's. Is that for all the properties that are in an individual's portfolio? Or do you just need to show that you have had two years of schedule E's for one property in the portfolio? Thanks.

Great questions. Currently we are in the midst of changing our lifestyle to meet our real estate and financial goals. Thankfully I will not deploy for the next three years so I hope that I could have sweat equity put into the home by the time that we leave. Thanks for the input. 

Situation: Looking at owner occupying a SFR for one year then moving out. My wife asked me why don't we get a new construction or turnkey home instead of getting one that needs a little bit of work.

Question: I did not have a good answer for that questions so I ask you, What is your experience with this if any?

Goal:  Have at least $150 cash flow when we move out of the house. Regardless if that is in one year or if that is when we PCS to a new duty location. 

Please I welcome any and all opinions and experiences. Thanks. 

I wish there was a way for me to personally say thank you to all that responded. I have some great information to use to add to my tool box. I will use most if not all of the resources that have been pointed out. I will let you know how this goes when this is finalized.

That is good advice. I was thinking about calling some local property management companies to see what they would say. I will definitely look at those websites.

Thanks.

I am looking to buy and hold a house for about one year and then turn it into a rental. I want to make sure that it cash flows well right now so that at the end of the year I will for sure cash flow. Does anyone have a way to determine what the rent would be for a SFR? Also I was talking to a realtor and I was told that I cannot count the rental income as actual income if the property does not have a two year rental history. Is that correct? Please let me know if you have any information in regards to this and thank you in advance.