All Forum Posts by: Mark Douglas

How long is your lease..?  I know it isn't about the number of pages, but I've got 29 pages, from adding specific requirements.  I feel like I wouldn't want to sign a 29 pager haha

What are the 'meat and potatoes' of what I need, and what things really aren't that important in a lease?

@Bryan C. Thanks Bryan, I'm pretty excited about trying it ! :)

@Daniel Watrous  thanks, I'll keep that in mind !  converting or expanding usable space!

@Nathan Miller  @Supreme Intergalactic Commander :)  Seriously a lifesaver !  This should make things SOO much easier!

Thanks,

Mark

@Nathan Miller  Finally figured it out!  I had to add a "0" before the account #  (USAA)  Got it up and running now, thanks !

@J Scott  that makes sense, thanks

@Nathan Miller  I'm having quite a bit of trouble in using the 'sync with bank' feature.  I've spoken with the support staff, and they were helpful, however my bank doesn't seem to understand much about OFX.  They gave me the logon instructions that would be used in Quicken, however those do not appear to work for me.  Would you recommend working with another bank?

@Pavel Redko  great perspective, thanks.  The quality of the work is more important than the mere attempts to upgrade!

@John Dykes Do you find that installing HVAC has any bearing on the appraised value?

@Megan Hirlehey I'm getting ready to do a TSP loan for REI as well. When you're underwriting potential deals, just be sure and include the payment from your TSP loan in the cash flow analysis, or be sure and budget ahead of time for the payroll reduction. If it still makes sense for you after all expenses including the loan repayment, I'd go for it. My plan is to get the loan for a 20% down payment, acquire the property, and immediately repay the loan with the cash flow from the property, then resume building up cash flow reserves. (I'll keep a decent amount of reserves in the property of course, but intend to use the majority to pay off the loan.)

@Mark Nolan Unless I'm misinterpreting the guidelines, to my knowledge there isn't a restriction of the use of funds with the general purpose loan. The only other option is to use the funds for a residential loan, which is real estate that one is living in as a primary residence. In theory, one could rent out a couple of extra bedrooms, which would be considered an investment. I'm not doing this, as I'm using the going the general purpose route, but I could see how it can be done. Do you have something from TSP that says funds can't be applied towards investment property? I'd be curious to know, also I don't want to break any rules I didn't know about ! :)

I was referencing this from their website --> https://www.tsp.gov/PDF/formspubs/tspbk04.pdf

Best,

-Mark