All Forum Posts by: Justin Yi

 Robert,

Thanks for your reply. That's really interesting. I will search more into that option. Do you have any experience with this method and if so could you point me in the right direction? Thank you!

 Kyle,

Thank you for the info. We haven't thought much into STR, but recently started to consider its possibilities. My plan it to try to list as a LTR and see how that goes. I will be researching more information about STR in the next few months before having to relocate. Thanks!

@Joe Norman

Thanks Joe. I definitely don’t want to force the situation but really trying hard to find creative ideas to make it cash flow.

@Andrew Freed

Andrew thanks for your input. I haven’t thought about airbnb until now. But with the situation as it is now, considering that option as well. I’ve also been thinking about renting the home room by room because their is a fairly large university about 15 mins away.

You mentioned traveling nursing. Any advice on how I can attract those kinds of clients? I’ve also heard that insurance companies put their clients into STRs, so I figured I would look into that as well.

@Joe Villeneuve

Joe thanks for your advice. Upon checking rentometer. It says avg rent in my zip code is $2900. This would either barely make me even but most likely negative.

Even with my home having appraised 30-40k over what I purchased it for; selling it would put me in the neg I believe. Considering I’ve put in about 10-12k of cash to do flooring, irrigation and small touch ups around the house.

Still would recommend selling if I can’t get this property to cash flow?

Hello To everyone on BP!

This is my second post, and since the last time my wife and I bought our first investment property in Boerne TX 78015 (NW of downtown San Antonio). We are active duty, been in our home for a little over a month, but are expected to move within the next 6-9 months.

Mortgage is $2700 and right now we are kind of worried about whether or not we’ll be able to cash flow or even break even at all. There was always some hesitation when it came to buying this home. Despite it being in good neighborhood with good school districts; there were very few homes in the area to compare rent figures with and same with the selling prices. My agent said that it was because the neighborhood is very new and that normally rentals in the area get snatched up quickly and get moved off the market.

I’ve been looking at Zillow for the past year (took 8 months to build), keeping an eye on the rental market around my area but I’m hardly ever seeing homes with the same bedrooms/bath and sq footage that rent for $2700+. The ones that do show up stay on the market for 45 days + or just get taken off.

I used a VA loan with 0 down. We finished the flooring and plan to update kitchen counter top and cabinets. However, the master bathroom is basic. We're already 10k in with the flooring and irrigation.

What are my options? When closing the home was appraised 40k more than what I paid for. Not sure how accurate that is. My realtor tells me, even if I am neg. cash flow I should hold it and think of it as a savings account and pay out the difference to keep it as a rental. And that I’ll have a lot of tax benefits. Also not sure how that works, waiting to speak to a cpa.

I hope I provided enough information and would appreciate any advice or thoughts on how to tackle this situation. Thank you!!

@Christopher Campbell thank you!

@Landon Bleau thank you!

Hi everyone. My name is Justin. First off, thanks in advance for all the useful information you’re about to give. I’m new to the area and currently in the military. San Antonio will by my first duty station so I’d like to purchase an investment property to house hack and/or rent in the future.

I’ve looked around to both multi family homes and single family homes. For a single family I’d like to stay under $250k and multi family under $350k.

My biggest problem is that I’ve been here for almost a year but due to training, I do not know the area very well.

I have about 15k saved and would like to take care of majority of my home related bills with my bah, which is $1600.

I hope I provided enough info to get some good info and would like to get in touch with a good agent who's familiar with the VA loan.

Thank you again!