All Forum Posts by: Michael Avillion

Thank you for the advice. Our plan would be a single family home.

The advice about renting in the military makes a lot of sense. I agree, things can change quickly. That is why I am inclined to rent continually, unless there is a very compelling reason to buy. 

Thanks for the advice. The wise thing is to wait. I eventually want to build a real estate portfolio (renting out properties to build wealth) and have read a lot about mistakes of people rushing into it. I won’t let that be me. 

Also, I would use the VA loan. The fact that I can have liquid cash leftover is very appealing.

My wife and I and newborn are being moved to El Paso for “at least” a 3 yr assignment with the Army. I am an Army physician and was told by “big Army” I could easily extend to a 6yr assignment if I desired. 

We have 30K in liquid cash as of now, 20K locked up in I bonds that I plan I selling July next year after maturing. 

Our plan is to rent for 1 yr, see how we like it, and if so then extend to 6yrs and buy. I had also thought about month to month but that may be hard to swing.  My worry is the time crunch at the end of our lease, so I would rent a place where I can go month to month at end, or get a 6 month and go month to month then. 

The market seems too unpredictable right now to buy and Id like to have more cash on hand as well. 

I appreciate any thoughts on our plan. 

Hello all, I am planning on buying my first property in two years. I’ve read “Long Distance Real Estate Investing- David Greene” and “Rich Dad Poor Dad” currently reading “Real Estate Investing for Everyone -Martin Stone”. I like audiobooks because I have a busy job. 

Any recommendations for other foundational real estate investing books? 

Thank you everyone for this really helpful advice! I so appreciate all the time you have taken to respond to my question. 

My wife and I are moving to LA for two yrs. Looking to buy and hold investment property to start building long-term wealth. I am low risk, like stability, and plan on getting a property manager early on when needed. This is my first property. We plan to live in a safe area, 3 bed 2 bath.

I don't need the cash flow currently, but I don't want to pay 84K in rent over 2 years when I could be building equity. I have the VA loan, so downpayment isn't an issue.

Any good resources to decide multi-family vs single family home? Or any advice?  I have already reached out to a few realtors and property managers in LA (waiting to discuss with a few this week), and read "Long Distance Real Estate" currently reading "Real Estate investing for dummies". I know that single family has more stable and long-term renters with less turnover, not rent controlled in LA? (I read this on Norada website), likely appreciates more, and is easier to sell. For this reason, and the fact that my wife would rather live in a single family than a unit in a multi-family, I am inclined to single family.  I am just trying to get as much input as I can to make the decision. 

Thanks for the responses to my long post. I appreciate the time you took to respond.
After considering your comments, I agree that investing in a cheaper market that I know in NC is the safest first purchase. I am looking to cash flow for now, passively, rather than appreciate and sell.

Never bought a home. Learned about real estate through a friend, and just started reading about it this past week! My wife and I are moving to LA (near south of Glendale) this July for a 2 year medical training program. I have access to VA loan through the military. I want to invest in real estate, but am nervous about LA prices. My wife has a close friend who is also real estate agent agent in Charlotte, NC, which seems to be a hot spot for buying real estate given the boom in population. Additionally, I am from NC, and have family in Fayetteville, NC, so I really like the state.

I want to make a wise investment. We are saving for adoption and finally have the funds, and will hopefully have a new baby by the time we move. It seems Charlotte is the smartest option (houses in the 150-250K) range with a close friend who can help, versus hedging on good appreciation in LA. An option is we could rent for a year, then buy a home in LA and rent that out while we stay in our rental (wife wants to stay in one spot with a newborn). 

Any advice? Also, any good additional books? I just rented Real Estate Investing for dummies (4th ed) from our library. I am listening to "How to Invest in Real Estate" By Brandon Turner and Joshua Dorkin, and really like it.I am in the medical field and don't have tons of time to put into home development flipping, mainly looking for passive income to diversify and capitalize on these low interest rates. 

Thanks so much. I just heard about bigger pockets and this is my first post.