All Forum Posts by: Joe G.

@Tiffany Noble 

Welcome!  I am new to the NW also.  I am a drive from you, but you have any questions or want to link up let me know.  

I am also from the East, Philadelphia, PA, and the military moved me out here.  

What is your next action going to be? Are you attending any REI meeting in the area?

BP is a great site and the people are even better.  

Wishing you success,

@William Basel 

I have used the VA Loan several times. Purchasing a 4 plex is a great idea that I never have done, but always wanted. What is your current return on investment with the cash? When would you 'need' to purchase another home using the VA Loan? Refi'ing out of a VA Loan is easy to do, but you would need the equity.

What else would you need the money for?  Where are you moving to?  What is the cost of living there, i.e. DC area vice small town area?  

Just some thoughts, but siding with using the cash for down payment pending what else you may need it for.  

Have success and looking forward to hearing what progress you make.  

@Catherine Kahle 

For the bypass, check out: http://www.charlotteobserver.com/2014/05/16/491447...

and http://www.charlotteobserver.com/2014/05/27/492891...

I predict a boost to the area where the exits to the road are.  I have been watching as my rental is close to a planned entrance/exit.  I am interested in your thoughts as you learn more, please keep the site updated.  Looking forward to reading posts from you.  

@Catherine Kahle 

Welcome to BP.  While I am not currently in Monroe, I was for some time and still own a home there.  Rents have increased well over the last three years.  What have you heard about the Monroe Bypass?  How do you think that will affect the area?  

Again, welcome and please ask questions.   But look around the site first, there is LOADS of information already available.  

joe

@Bertrand Ellis 

How are your RE ventures going? I have a SFR in Woodbridge and lived in the area for three and half years. What areas are you looking at? How will you fund your purchase? Just some thoughts to get you thinking…wouldn't mind talking more about it if you would like.

enjoy the ride

@Rich Cee 

A few questions for you to consider if have not already; 

-what would you do with the money if you sell?  Do you have another plan to purchase or pay off some debt?  I would ask where would you be getting a higher return on your money (newly identified project/pay off debt OR with current project and maybe a slightly higher vacancy rate)

-are you able to lower your rate and still cash flow?  If the area is drawing down you could remain, with slightly less cash flow.  A good tenant is a good thing and keeping one is easier than finding a new one.  What is the tenant's job?  Is it at risk?  What is the length of the current lease?  

-what base in GA?  I can give you my assessment on it if you would like.  

Good success with your decision, please keep the forum posted about what you do…at least I am curious.  

@Elizabeth Colegrove 

As a commander a few years again I supervised a Soldier who had the exact problem you identify. In the end the spouse was able to move away, however as the Soldier's commander I was prepared to give the landlord/property manager hell for any denial of the lease. I knew all the details behind the family's situation and what was best for them. Owning three rental homes now, I would not hesitate to allow a Solider to be released from a contract due to orders, verified of course. Also, all within reason.

In terms of permitting a lease when you know the Soldier is going to be breaking the lease before a desired term (say 12 months), this would have to be case by case.  The homes I have are in areas where I know I can rent it quickly again.  

Take care,

@Joseph Heath

Take the military factor out of your senerino and what do you have, a dud tenant who disrespected your property and lied to you. I agree with @Paul Wurster , military tenants should be treated like any other tenant regarding the due date, property condition/upkeep, etc. Take the emotion out of it. Don't be jaded toward tenants who happen to be military.

@Thomas Harrelson

I am active duty military also. The above posts are on target with their advice. BP is a wealth of information and you have to know what you are looking for, same goes for a mentor. Know what you want to ask and what you want to take away from a mentor.

Message me, I can help answer questions and guide you.

Enjoy the ride.

@Davian M.

How fast do you need it rented? Have you thought of an incentive for a signed lease? $XXX off of first three months or 1/2 off of 1st month rent with signed lease before XYZ date.

What is the feedback from the applicants besides cost on the home? Can you improve anything about the home to?

good luck