All Forum Posts by: Kyle Brodwater

@Kyle Bliss For military guys and gals check out From Military to Millionaire podcast and YouTube channel. @David Pere does an excellent job broadcasting the different real estate lending programs available to military folks but he’s also just great to listen to even if you’re not in the military. Check him out.

Hey everyone!

I’m curious to see if anyone’s real estate knowledge that they have gained from learning, practicing, working with lenders, agents, inspectors, knowledge of the rehab process, buying deals...etc...was a main hiring point for a new job that they took? I’m looking for uncommon ones...I see a lot of people on here that are agents,inspectors,contractors...I’m wondering what other cool jobs people have gotten because of their in depth knowledge of real estate and investing. I realize a lot of us are trying to get away from working for someone and are working our way to becoming financially free....but until then, what’s a job that you were hired for because of your great real estate investing knowledge? Thanks!

@Keegan Beck excellent, thank you! The wife and I are looking to live on James Island, closest to Folly. I'd love to hear about certain areas you think are profitable BRRRR areas as well. Please message me anytime.

@Bradley Scruggs that’s excellent to know. Thanks for the heads up!

@Lawrence Gillett nope not a nuke, lol. A lot of my friends have gone through the Nuke pipeline in Charleston though. I’m leaving the Navy and the Charleston area really appeals to my wife and I. Trying to escape the Northeast winters that have been a part of our lives forever. I’m an ETR2.

@Clark Kirkpatrick that’s what I was reading. 2 years! I agree, that’s nuts. Thanks for your response.

@Mike Brecko I don’t necessarily agree 100% with the “wear and tear” on air BnB properties. I manage an air BnB and I believe the wear and tear happens greatly in a traditional rental property more so an Air BnB. My air BnB is deep cleaned and made pretty 3 to 4 times a week. Is a single family rental property deep cleaned and made pretty 3-4 times a week? No way.

Hey everyone!

First and foremost thank you for anyone that takes the time to respond I would greatly appreciate it!

Here’s my backstory:

I'm currently active duty military living in Rhode Island. I own my current SF home and purchased it with a VA loan. In June of 2020 I leave the Navy and plan on moving to Charleston, SC in the fall of 2020.

I do not plan on selling my home in RI. I will be renting it out as I have a good amount of equity in the home along with a cash flow of $700/m if I were to rent it out.

I also own a condo that I use as a vacation rental on air BnB that I will be using a property management company to take care of when I move. Currently I manage myself. Even with property management costs, the cash flow is significant.

My question:

When I move to Charleston I will be purchasing a home using the VA loan again and with no money down. I have funding in place to also purchase a property to BRRRR. When I purchase the BRRRR and go to refinance, will the bank consider my rental income from my home in Rhode Island that would be rented at that time to cancel out that mortgage debt in terms of DTI? (RI home would be rented for a year at that point) I'm new to the BRRRR strategy and the biggest hurdle for me to grasp is the refinance part.

Sidenote* I am looking to network with anyone in Charleston area. I’d like to start connecting now and pick your brains if you don’t mind!

Thanks!

@Bobby Pagliarini it seems you have a direct comp right across the street. If your buddy is faring significantly better with air BnB than with traditional renting...then you need to decide how much work you want to do. I manage my own air BnB and it’s not passive income by any means. My wife and I do turnovers because we take pride in our rental and strive to keep our “super host” status and maximize our cash flow. There are excellent property management companies that specialize in air BnB. We choose to do it ourselves. Ask your buddy for his numbers.