All Forum Posts by: Lara White

@Jonah L. Here's a place for more info on property taxes: https://apps.franklincountyaud...

@Blake Billings Congrats on the deal. That's a slam dunk on the CoC and cash flow!

@Karrie Jeffries Welcome to the BP Forums! We were ALL very green to REI at one time - everybody starts there :)

Have you set up some keyword alerts to help you learn about things/areas you are interested in? That would be one way to really dive deep into a topic/area that interests you. Once you find a location, find a good team (realtor, property manager, other investors in the area) - maybe go visit the area you like - see if it's what you expected - it's not necessary, but sometimes it helps to get out of the analysis paralysis stage!  You become 'invested' in it!

My husband is AD Air Force here @ Tinker ourselves!  Best, Lara

@Matthew Crawford just like @Michael J. said - most things can be done electronically, and if you have a good team here, they can handle the inspections, etc for you! 

But if the lender/title company needs 'inked' signatures -  You may need to go to an Embassy for signing (if lender required but seems a little extreme), but a notary should be able to witness it as well (they do all the time for out of state contracts here)- like at Pentagon Federal (or the Community Bank there on base - I'm not sure what base you are at, but that was the one on Kadena I think!).  Then you'll just 'overnight' it back to the states - (several days to a week in reality).

So, the title company will send you electronic copies you will print out, (you will have to pre-sign a few days ahead of closing more than likely), get witnesses by a notary, 'overnight it', and when your inked signatures are back stateside, they will fund the loan.

We were stationed in Okinawa for a couple of years - LOVED it - but it is a pain to try to do business with the time difference. I have an investor client in Okinawa right now, and it can be several days delay between questions/answers/back and forth  - which isn't idea, but still doable.  Best of luck - let me know if you have other questions I might be able to help with!

@Teddy Shepherd I don't know any in Indiana in particular - each state will have different requirements.  Try the one that @Adrien C. recommended!  Good luck - get involved here in the BP forums - you'll learn everything you really need to learn about real estate on here!! 

Set up some keyword alerts (go to the bell icon, top right hand side - drop down box, Keyword Alerts - and set them up to notify you of topics you are interested in (ex., Indiana, military, passive income, long term rental)

@Victor Kapustin I own a Carpet Cleaning franchise - and as far as I know - each company/franchise will have different requirements as to exit strategies.  I bought my local site from an owner that was retiring - so even though I was buying it from the local owner - I had to be vetted by the Corporate office to make sure I 'passed' their qualifications as well.  (Background checks, training schedule, cash on hand, etc...).  It'll probably be similar to that.  I was VERY active in the day to day at first, I think you really should be b/c you will need to know the business better than anyone else.  What happens if you have to run the day to day for a time? You better know how to do it.  Some franchises require you to have a more active role than others. I believe Chick Fil A for instance, you can only have that franchise/business - I don't think you can own anything else (at least actively).  So, check on the requirements that the coffee company wants you to do.  Royalties - also vary from company to company - I do know that if I make $0 in a month...I still have to pay my royalties. So make sure you understand what you are financially signing up for, and make sure you can float it.  Hope this helps! Feel free to ask some questions, I'll try and help!

@Teddy Shepherd Hi Teddy!  Each state will have it's own real estate licensing - what state will you live in - or would you like to sell real estate in?  Are you planning on becoming an agent full time at some point? (Selling in particular)  What is your long term goal?  Have you checked out having your class paid for by a military education source (in some form)? (just an idea - might save you some $$!)

@Erin Wilks What area are you looking to buy in?  A lender local to where you are looking at might be the best. The market is super competitive (at least here in OKC), and having a local lender is sometimes key in a deal.  You might try looking in the forums of the market you are focusing, see if there is a lender who actively participates in that forum and connect with them.

@Nicholas Utesch I love that area!! Congrats!  A new build there is gold.

@Brian Bault 8% CoC is nothing to sneeze at! Where is your investment located - do you like the area? Do you have enough equity in it now to refi, cash out, and buy the next one?