All Forum Posts by: Lara White

@Chrissy W.  1. Connect with a local real estate agent who knows the area, and regulations. 2. Here's a thread on the forums I found, I didn't read it all, but it might have some info for you:  https://www.biggerpockets.com/... Might have some people you can connect with on the thread as well as info.  Best of luck!

@Bryan Cade Bowlin Do you have anyone that you know personally that you could ask?  (family/friends) I know some people are not comfortable asking those close to you, so it may not be an option for you.  Get your numbers and research in order first. Have a plan.  Use the BP calculators to help you run your numbers, get some property managers lined up, get a good agent on your team, get a scope of work lined up and priced out. Maybe connect with a local lender, see what kinds of loan options are available for you and any partnerships.  Read and get some books to give to your potential partners, so they are on the same page as you (if they are not experienced investors).  
AND do a small deal FIRST...then when the honeymoon period is over, and you still can look at each other, do a second deal.  Rinse and repeat. Don't go all out on a huge complex deal for the first one.  You may not like your partners as much as you think you do... better to know on a smaller deal. Listen to some partnerships episodes, great info in them.

Good luck and let us know how your first deal goes!!

@Andrew Ashur Did you happen to use a real estate agent for your deal? I'd start there; they should have several contacts to refer you to.  

@Jacob Beg Did you happen to use a real estate agent? If you did, they should be able to help you find a few CG's to contact/interview.  Or did you use a local lender?  Ask them if they have any local contacts.  That's where I would start. Best of luck, hope you get some help!  Where did you buy?

@Kyle Smoot I don't know much about the PSJ/MB area, but Panama City/Destin/Seaside/FtWalton beach areas are all extremely good areas. I just mentioned in another post, my parents live there, and use their two spare bedrooms as STR's, and gross over $30,000 just from the summer rentals. They are long time popular hosts (several years on Airbnb) but they made that almost from their first year (about 5 years ago). What are you looking at in particular to do there? Long term? House Hack? STR? Flip? Are you from the area, or just interested in it? Do you have connections there that could be the boots on the ground for you?

@Denis Ryan I concur with not using Navy Fed.. worked with them this summer (on a team as the buying agents) and it was a complete debacle.  The loan closed, but the buyer will never use them again, I will never advise a client to use them again (they were advised  not to use them this time...but sometimes clients are adamant and very loyal - which for normal banking, Navy Fed is awesome). But it was awful. The mortgage department got ugly with us and the very long time credit union member...wow... it was ugly.  Ughhh.. brought back memories LOL!!!

CONGRATS on the STR in FWB! My parents have one in Santa Rosa Beach (just east of Destin/Miramar Beach), and they made over $30,000 gross for two bedrooms that they rent out each summer. Not even full houses! Just 2 rooms!!

@Samuel Nuckles Welcome to the BP forums! Are you retired military, or did you just separate after serving several years? Do you have access to the VA loan? Do you own a primary residence already? or could you house hack to begin your journey? Have you considered getting your real estate license to learn? Could you use any military benefits to pay for that? What is your target market? Are you looking locally or out of state? What is your credit like, are you ready to qualify for a loan or do you need to work on getting your score up? Do you have anything in down payment saved up, or reserves? Start reading all you can, listen to podcasts, the BP ones are amazing, and you can start anywhere (doesn't have to be at #1) and start learning! Set up key word alerts here in the forums, and get notified of things you are interested in/want to learn more about. Good luck! You've found a great place to start learning!

@Justin Massey I don't live there anymore, but I can tell you where I would live (or not!) if we were ever stationed there again!  It's a somewhat pricey area, with tons of historic homes. Be careful of historic homes that are super old, can take lots of upkeep - may not be something you want AD and a newborn! Also, flooding is bad around certain areas, coastal areas especially, so watch out for that.  Don't live in Norfolk if you will work at Langley - the tunnel is awful on a daily basis!  Yorktown is my favorite close to Langley.  Don't live too far up the interstate near Bush Gardens/Williamsburg. It's beautiful, but the drive is horrendous.  Overall, it's a great place to be stationed! I miss it a lot!

@Chris McKinley depends on what state you are investing in.

@Elise Wheeler What is your primary goal in buying? Are you buying to invest (buy and hold to rent), "forever" home to live in, BRRRR, etc? Might be slightly different advice depending on your why. Are you using a real estate agent? Do you plan on getting an inspection?