All Forum Posts by: Joshua McMillion

@Raphael Alexis

If you solely rely on the MLS, it will be extremely hard in the current market to find that perfect deal. It would be best if you injected your efforts before home it the MLS. If you are set on using a VA loan and plan on living in the house, try and find a real estate agent that is also an investor in the area. Sometimes that will set up a collaboration center with some status "coming soon," which will offer you the chance to place an offer.

If the number is not matching, you may need to adjust your search area or home specification. Your numbers are sufficient, but I would say they are really guidelines. For example, I save $5,000 in cash before entering a property as a CAPEX hedge. From there, my CAPEX is much smaller, give the revenue from my other stuff. You can also see if property managers will lower to 9% or even 8%, but that is usually held for investors with multiple investment homes.

At the end of the day, if you plan to be there and live in the home for several years, you can always do the unpopular thing and make extra payments on the house and refinance before you move. 

Sincerely, 

Josh 

@Stefhen Offutt

Check the link below for another military member that will be moving to the area. 

https://www.biggerpockets.com/...

Sincerely, 

Josh 

@Shay Weinstein

@Selina Hillenmayer

Shawn did a deep dive into the current state of Huntsville's crazy market. Overall, it was great information on Shawn's perspective of the market, definitely value-added. I can't wait for the next one! 

Sincerely 

Josh 

@Tyler McGill

The post below is a similar naval officer looking to house a hack in Hampton Roads. I'm in the Army and not familiar with the area, but it would be worth reaching out to @Ralph Salazar. 

Another potential avenue is to rent your wife's home when you move, and house hack a multi-family at your next location—just an idea. 

https://www.biggerpockets.com/...

Sincerely, 

Josh

@Joshua B Pruitt

I will reach out to the military mastermind group I am apart of and see if anyone has a connection in those area's 

Sincerely, 

Josh 

@Ryan Stumbo

Here are some resources to help. Have you tried the BiggerPockets Calculator. It will provide you all the KPI's you need without understanding how to calculate them. 

https://www.biggerpockets.com/...

https://www.investopedia.com/t...

Sincerely 

Josh

@Denise Sieg

No problem, glad I could help. 

Sincerely 

Josh

@Kevin Herron

I'm glad I could help and reach out anytime. 

Sincerely

Josh 

@Erik Henneman

Most likely, you are referring to return on investment or ROI. You can achieve this through REI by using the formula ROI=(Current Value of the Investment-Cost of Investment)/Cost of Investment). Historically, the S&P and returned 11.9% since its inception. For real estate, it depends on what your criteria are. Are you in a market like California that sees considerable equity growth? Or are you focused on both? 

My crystal clear criteria are 10% or greater ROI% in an appreciating market, so I can leverage the full power REI has to offer.

Sincerely, 

Josh

Jacob, 

My advance comes from scar tissue, but I recommend never getting into an investment unless you have the financial foundation to afford the asset. That being said, I have not seen the property nor know anything of it. If your friend wants to sell the property to you, look at the Subject Two strategy. This will allow you to get the home deeded but require you to pay your friend for his mortgage. You can upgrade, rent, collect the equity growth, and take the tax depreciation too. 

Listen to this podcast: Real Estate Rookie show Episode 51. 

If you are ever looking to connect with like-minded veterans in the REI space DM David Pere. He created a mastermind group with only active and veteran members. 

Mastermind Group is called the War Room.

Sincerely,

Josh