All Forum Posts by: Jason Hill

@Martien Vanhooft if you rent out your house in NJ will it cash flow? To get a second mortgage I'm sure some banks would do it depending on your debt to income ratio If I'm not mistaken. If you keep it you would also need to put a team in place to manage it while you are away. David greens book long distance real estae investing Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties https://www.amazon.com/dp/0997584750/ref=cm_sw_r_cp_apa_i_E2YzDb58FNHMZ is a good read I would read that book cover to cover then make your decision.

@Luke Reninger since you can not another loan why not do some creative financing or partner and just keep the cash flowing property?

Justin that was just for the rehab not the purchase. I was given the quote by a contractor I had found on thumbtack. But isaac is correct plumbing and electric work needs to be done threw out. 

Tamisha I was deployed very quickly after finding that property. So I had zero time to do anything further then try and contact the owner. But after getting back I went by the house and it was redone and looking amazing.

Justin I'm still trying to get new bids on the work but the army has me in and out of the field so much these days I can't get the time but I'm not ruling anything out.

I would agree with pretty much everyone killeen is a very strong renters market. With Fort hood being such a large presence it's hard not to throw a rock and hit a solider. Some investors are nervous about renting to soldiers because of how often we move but they really don't understand the PCS cycle. When a soldier is stationed at a location they have to at that location a minimum of two years. So if you have a renter who says they have just got to hood your good to go for at least one year, but the way things are now with rotations they will be stuck at Hood for a very long time. Getting a MF in a good location is they key but If you do find one you need to make an offer right away because they get scooped up extremely fast around here.

West to answer your questions yes I am sure there could be value add. My contractor (not the first guy) has suggested that I take another look at my numbers and get a better estimate on the ARV because he is also having a hard time believing that it can only be worth 300k. So I'm going to run it by some more commercial guys/ gals and see if they can give me a hand figuring this out.

Justin I agree I'm having another contractor friend of mine take a look but I'm not holding my breath I'm already looking at other deals.

Michal I totally agree if I had of just went and bought the place i would have been up a creek without a paddle. I see your from water town i grew up in Schenectady. I always think of investing there some time in the far future.

You Florida guys are all correct today is a new day and that means a new deal is that much closer.