All Forum Posts by: Kevin Hunter

@Edward Webb , congrats on the success in the Navy and on the decision to transition. That is a tough one, and one I still haven't made. You have come to the right place. There is so much to learn here and so many great people, including a good sized military presence, to learn from. Get involved in the forums and listen to the podcasts. They are gold.

What you decide doesn't matter as much as the decision to get started.  Just get moving....

Good luck! Beat Army!

@Edward Webb, congrats on the success in the Navy and on the decision to transition.  That is a tough one, and one I still haven't made.  You have come to the right place.  There is so much to learn here and so many great people, including a good sized military presence, to learn from.  Get involved in the forums and listen to the podcasts.  They are gold.  Good luck! Beat Army!

@Vasilii Baban, as @Russell Brazil mentioned, DC is an extremely tough market right now.  Unfortunately so is Northern Virginia. I would suggest reading a bunch in the forums for a different investment area or consider a house hack in NoVA, or moving your sites farther south.  Good luck.

@Connor Reese, as long as your fiance plans to occupy the house for 1 year she will be all set.

@Account Closed, I love your points.  Two of my favorite arguments: 

1. max leverage vs no leverage 

2. cash flow vs asset class

I always laugh when I read the posts that tell us all the ONLY arguments, opinions, strategies that are correct!!!  That said, I will continue to read them because unlike some of the posters, I don't have all of the only, right ideas...........

@Michael DiDio, first thing that stands out is the 10% down.  If the purchase is as an investment property than you will be required to put 20-25% down.  That will affect your cash-on-cash return.  Also, I don't see repair costs programmed, nor do I see a vacancy rate planned for. I assume your "reserve" is for capital expenses (roof, HVAC, windows, etc..)  

@Sandy Saturn, they are very difficult to find, but can be done.  Call all the small community banks in your area.  Think 100 banks.  Newtown Saving Bank does them, Webster Bank in Shelton does them, to name two.  Good luck!!

@Chris Berisford, I have a portfolio of properties in Watertown.  The area is nice for cashflow.  Appreciation is not as aggresssive there as in other areas you may find.  I like the tenant base and area though.  Feel free to reach out with any specifics.

Looping in @Michael Ablan.  He and I work together in the area.  He is a fantastic realtor and property manager!

Unconstitutional or not, the courts will decide that. Not sure I am going to fight it for a 'couple of years to spend 10x what I lost in rent, just to lose in court.  Maybe I am just giving up.  

@Jason Smith, if you truly believe that the ONLY reason all your tenants have paid is because you got lucky, why would you want to do this. Hedging on luck to get paid wouldn't make me feel good at night. If that works for you great, but I think other people might feel differently.  I have one tenant who has not paid in two months. One out of over sixty. It is not only because I got lucky.  Yes, I am fortunate that I have tenants with jobs that survived this, and others whos jobs didn't survive, that have used their stimulus check to pay their bills, including rent, while finding a part time job. But I also screen for salary relative to rent amount. Why, because when all goes crazy, I don't want someone renting that lives paycheck to paycheck. That is not luck, it is careful screening and selection. Sure, part of it is luck. Right now anyone who doesn't "want" to pay rent, can stop without fear of repercussion, but for me specifically, there is way more to it then just luck.

@Todd Rasmussen, rent is too low and you could probably tighten up your pre-screen requirements. A good problem to have thought.  You are the one person on here with that problem, all of the other 99 want to know why they haven't had any applications......... It's all part of the learning process.  Next time do some more market analysis, reach out to fellow investors, landlords, etc...  Congrats on getting it rented.