All Forum Posts by: Peter Dascoulias II

I found a property I wanted to buy and took a TSP loan (Federal 401K) for $40,000 for the down payment. The loan repayment come's right out of my check. I don't regret it at all! The ROI is much better from the rental than it would have been in stocks.

Listen to the podcast whenever possible!  Every time I listen to one I get fired up again, they are extremely motivating.  I wouldn't have purchased my last 5 units if I hadn't kept listening to podcasts.  Good luck!

Welcome!  We have a friend that invested in LV during the downturn and has done very well with those rentals.  Hope your flipping/land lording goes as well. 

I've been doing taxes myself for years using TurboTax and have learned a ton by doing it that way.  I have added a number of rentals and started doing some renovations in 2015 and no longer feel comfortable with the complexity I would now have to deal with.  I'm going to use a CPA recommended by another investor friend this year to see how his numbers come out and determine if at that point I should continue on by myself or continue with his services. 

Great Job Evans!  Sounds like you scored a good one.  The really good deals seem to have dried up a bit this summer here in Great Falls.  I purchased a duplex with a single family home all on one lot at the beginning of this year on 2nd N and 21st and haven't been able to find much since.  My wife just got her Real Estate license so we hope we can turn it around here soon and start looking at a lot more properties.  Good luck with your new purchase, it will be well worth it!

I have an employer matched 401K (TSP) that I put the minimum in to get matched. Max out my Roth IRA and borrow my down payments (which the TSP makes very easy) for "Buy and Hold" properties. DIVERSIFY!

Eligibility

You must have suitable credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy.

I believe there is a "24 month rule" for renting the property out.  Meaning you have to live in it 24 months before it can become an investment property.   

This has always been my favorite!  Then throw compound interest on top of that and you're golden.

A penny saved is a penny earned.

Benjamin Franklin

Read more at http://www.brainyquote.com/quotes/quotes/b/benjami...

I haven't stream lined my rent collection and after reading this I definitely have to!  

This is how my tenants pay:

1st house.             Tenant drops off check at my house ( I have to arrange for my wife or I to be there and she's friendly and likes to talk, so it takes longer then it should.)

2nd house.            Tenant mails check (potential of being lost in the mail)

3rd/4th house.       Pick up rent at their residence (Have to contact them to make sure their there)

5th house.             Mailed to me via their bank (probably the easiest)

I have 5 middle of the road units that bring in $24,000 (net) annually.  I've received no calls in the last 5 months.  I usually text and pick up checks, so I would guess I spend 4hrs a month for that extra income.