All Forum Posts by: Jeremy Vought

@Syam Tadavarthy great work Syam had good to see you on BP! What’s the current value of the place now. Knowing the area it seems like you did awesome with this one.

Never heard it put that way regarding your total investment put in and to not take it into consideration. That flips the script a bit as I was originally focusing on the ROIs which certainly take into account the total investment in. Totally see what you are saying though. Over time, I'll be able to continue to tap the equity in those homes to invest in other things. Saw that in my GA home. Had it paid off for a year and then tapped it for $80k to get into one of my VA homes. Still cash flowing in GA nicely and it got me another property (with plenty of equity). Thanks for making me see this another way.

I'm looking forward to moving to New Orleans.  Belle Chasse homes are barely coming on the market but that's where'd we'd like to live.  
  

@Stephen E., thanks for the insight.  With the little cashflow in my Virginia homes I wouldn't really be able to pull equity out of those without going into negative cashflow on them (even though there's a good amount of equity to tap).  I could certainly pull out some equity from the GA home and still be able to have positive cashflow.  I also lean toward keeping properties, but I also didn't want to miss out on cashing in on the appreciation from the market and my rehab.  If I calculated correctly, the amount of time required to rent the property to make the amount of profit if I sold it was something like 30 years or more.

Originally posted by @Matt Ziegler:

Jeremy,

Look at the long game. Not many buy and hold investors say” wish I had sold that “

Over time you will pay down the note and enjoy the benefits and the residents will help you achieve your goals!

I appreciate that!  I sold my first one and wish I hadn't in retrospect.  I didn't want to do the same thing this time, but I also didn't want to disregard what the math was saying.  Have a Happy New Year.

Originally posted by @Matt Ziegler:

Jeremy, 

What is your long term goal? You state that you are a buy and hold investor, so why not hold on to these, looks like you could pull some equity out and use that to fund your next purchase. John Schuab’s book , building wealth one house at a time would be worth a look.

Cheers

Hi Matt,  thanks for the reply and for the book recommendation!  My long-term goal is cashflow for when I retire from the military, but I'm wondering if, for example, the 9132 Everett is better as a Fix and Flip instead of a long-term rental based on the cashflow vs the short term gains of only living in the home for 8 months.  You're right my equity position is pretty good (in my limited opinion) so I could tap them for more, but my concern there is that they certainly wouldn't cashflow if I took equity out....but that's me looking at each property individually instead of as a collective which is likely how you are looking at them.

Hi Bigger Pockets, Military investor here needing assistance. Thanks in advance! I’ve ran the numbers on multiple calculators but I’m still not confident I’m analyzing my 3 properties correctly. Bottom-line is that I’m trying to figure out if I should sell or hold. Two are rented and one is my Primary Residence which I will be moving out of due to military orders to New Orleans this summer (though all were a primary residence at some point). As a Buy and Hold investor, I’m not prone to sell, but I think the math may be telling me that I have a at least one-to-two Fix and Flips on my hand.  

Here are the details with additional numbers in the photo:

9122 Oshad Lane, Springfield, VA (current Primary Res, available for sale/rent in Summer 2021)

Purchase Price: $352,000   |    Total Invested (closing costs, down payment, rehab): $100,000 not financed

After Repair Value (ARV): $480,000 |   Left on Mortgage: $330,400

If rented, Monthly Cashflow: $225 (taking into account all expenses including CAPEX & Vacancy)

9132 Everett Court, Springfield, VA (currently rented until May 2021, could continue renting or sell)

Purchase Price: $320,000    | Total Invested (closing costs, down payment, rehab): $55,000 not financed

After Repair Value (ARV): $405,000 |     Left on Mortgage: $289,000

If continued to rent, Monthly Cashflow: $100 (taking into account all expenses including CAPEX & Vacancy)

3345 Haverhill Rowe, Lawrenceville, GA (currently rented until May 2022, could continue renting or sell)

Purchase Price: $94,000    |    Total Invested (closing costs, down payment, rehab): $29,000 not financed

After Repair Value (ARV): $260,000 |     Left on Mortgage: $68,837

If continued to rent, Monthly Cashflow: $350 (taking into account all expenses including CAPEX & Vacancy)

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Thanks for any insight you can provide on my situation!  I'm still not confident enough on my ability to analyze (especially with the weirdness that comes from already owning them, multiple refi's, and all used as Primary Residence at some point).   I very much appreciate all the guidance and motivation this community has provided.

@Rc Morris thanks so much and sorry for the delay. We decided to self manage and have been blessed by great tenants. I will certainly keep this company in mind when I decide to hire again! Have a Merry Christmas!

@Brad Larsen haha perfect! thanks so much and sorry for the delay. We decided to self manage and have been blessed by great tenants. I will certainly keep this company in mind when I decide to hire again! Have a Merry Christmas!

@Kim Meredith Hampton thanks so much and sorry for the delay! We decided to self manage and have been blessed by great tenants. I will certainly keep this company in mind when I decide to hire again! Have a Merry Christmas!

Had to leave our current management company of 2-years. Our investment rental property is located in Lawrenceville/Lilburn/Duluth Georgia area. Does anyone have suggestions to professional managers you would recommend? Thank you. Jeremy Vought Military Investor