All Forum Posts by: Mark Maire

 Do your tenants know you own the units?  How do they react?

Shot you a PM.  Thank you.

I am going on deployment soon for 8 months.  
Looking for "free" education i.e. ebooks, files, that I can load up on to educate myself for 8 months. 

Have all the BP special books, rich dad poor dad on audio, real estate rewind, 7 years 7 figure wealth..

Any recommendations I can cram into my load out, must be able to be put onto my tablet.  Please reply or message me on here.

Thanks,

Mark

I recommend the 70% - repairs as max offer to start.  That will give you a healthy profit and will take in holding costs(realtor commission, taxes, utilities etc.)  

Find an investor friendly realtor or get MLS access. Offer an incentive so they will provide comps.

60K will be tough in Hampton Roads. I think you should raise it up to 100k and look in Norfolk. Find an area with ARV of around 160k and purchase at around 100-110k. That will leave you room to rehab and make a good chunk when you resell in the next year or so.

 I have a good amount for the average person, but not a lot when it comes to real estate.  Enough for a down payment + closing costs on a 100k house but not enough to buy outright.  I rather not get too specific how much money I have unless it was in a private session.  Also its changing every month and a bigger change every year.  Send me a PM if your serious, and to see what you have to offer.

 Unfortunately, yet fortunately I am married and have 2 small children.  

I was thinking about working with a contractor or a real estate flipper learning rehab costs for some free or cheap labor(heavy lifting, writing letters, door hanger, etc.) for when I do move I can hit the ground running.

My currently house wouldn't cash flow for the price i bought it at.  I currently live in it, but if the market remains the same my mortgage would be down to $155,000.  Sell for 180-190k.  

In order for the advice needed, I need to tell you my situation..

I am a sea duty sailor, I work very long hours 4 a.m. - 6 p.m., I am usually stuck on the ship 1-2 nights a week, underway 1 week a month/7-8 months every year and a half.  It will only be like this for about 2 more years where I will eventually get off the ship.  I really wanted to get started in real estate investing, but uncomfortable in doing it in my area when I am leaving soon, and uncomfortable with investing out of state after strongly considering it.   

I have been aggressively saving money and I receive a decent bonus every January until I get out in 2020(not retire).  I have nearly perfect credit(796).  I have zero debt, unless you consider the house I bought in 2010.  $164,000 left on mortgage, houses similar to mine sell for around $180,000-$190,000(steady market) which I plan to sell and not rent when I leave.  

I will be leaving Virginia in the summer of 2016.  I will still be in the Navy, but I will have a much more predicable schedule and I have the chance to basically move anywhere in the United States.  Where I move next is where I want to invest and live for the "rest of my life."  

So for the advice needed, what can I do in the meantime?  I believe my savings needs to remain flexible for when I move.  Obviously I will continue to aggressively save money.   But cash just sitting in my savings isn't helping at all.  Should I aggressively pay down my current mortgage and net the profits for when I sell?  What are my other options?  

Make an offer with upgrades in mind, if accepted, after inspection anything glaring renegotiate offer.