All Forum Posts by: Kenneth Hynes

@Teresa Covert congrats on your first 4 unit ? Do you own SFR or is this your first investment property ? How id you find the original listing , MLS ?

@David Fitch   Thanks for the blog and updates.  I just finished catching up on Michael L  thread, and offers honest on the ground feedback  about TK properties . 

Question for you since it has been 2 months since you closed?  Tenants ?  fully occupied ?  any issues getting tenants into 4BD?  demand higher or lower than 3 BDs 

I am considering TK and Chicago has made short list of cities to invest in 

@Dhar Rawal

Great Job and way to follow you convictions. Interesting use of the 401K money. One technical question . Is there a special ownership considerations if the funding comes from your SDIRA? Does the cash you flow you get from the property have to go back to the IRA?

he lender requir

What Bryan  said , as well as ask for what time period  the lender requires .  Some will do it immediately for an investment property, some will want to wait for 6-12 months for "seasoning"

@Jenna Estefan

Congrats on your first building block :) that is alot to pay in PMI though. I would echo what @Rich O'Neill said about re-financing , because with a 3.5 FHA loan you will be paying that PMI the entire time of the loan , even after you cross the 20% thresh- hold

Wont be there but planning on next month .  please add to invite list

@Shawndrika Hardie  

First  Sorry about your issue.   How long was the tenant in the uit before the problems started ..  Any issues before they stopped paying rent.  if they were only in there a month or so before they stopped may be a "professional" tenant you are dealing with 

Second  Would emphasize what @Thomas S. said about your PM.  Bottom line they are failing you big time.  when you hired them to manage , what did they say their late rent / Eviction policies and procedures were.   I would be on the PM every week to being giving me updates ,and soon as the teneant is gone , Switch PM firms  to one that you can trust   

@Junior Mendoza

First Welcome to Bigger Pockets. Ton of resources you can use here while you start your REI career. There are also multiple members that are / have been Active Duty that are following the same game plan as you. There was several podcasts featuring military members and teh challenges of out of state land-lording, and I believe @Brandon Turner did a webinar that featured REI while being Active Duty Military .  Be on the lookout if he does that again.  They are usually Wednesdays 8 PM ET/5 PM Pacific 

As for Fort hood, Been TDY ther but never stationed, but would echo what Brian said.  Hood is not going anywhere, it may drawdown some, but its Major units are staying put.  if it is like Fayetteville NC (Bragg) , you are going to see grreat capitol appreciation , but a consistent renter market

Welcome @Jessica Price

BP Is a great resource for those just starting out.   You seem to already done a lot of research.  Another research tip I picked up here was driving for dollars, where start driving / visiting areas you would like to invest in so you get a feel for prices, rents , house conditions etc, and visit and look at lots of homes and open houses so your eye get used to looking at repairs / upgrades that are normal in a particular market. I really don't think you can look at too many properties, and the more you look, the more knowledge you will gain for that market.  You may even find some off market deals this way :0

Are you guys active duty ?  Another way to start ( and the way I did) was buy a place at your duty station, and then rent it out when you PCS to you next location , rent out your residence,  then repeat at each duty location stop

@Cade Avey

Welcome to BP .

BP is a great resource. Full of great tips and reads, and it wont cost you $12K. 

 One tip that I picked up here is while you are starting out and saving money for your investments, start driving / visiting areas you would like to invest in so you get a feel for prices, rents , house conditions etc, and visit and look at lots of homes and open houses so your eye get used to looking at repairs / upgrades that are normal in a particular market. I really dont think you can look at too many properties, and the more you look, the more knowledge you will gain for that market