All Forum Posts by: Jason Hatcher

@Matt S. We also have 2 houses with @Jeff Copeland and highly recommend him.  He has helped us search for properties, acquire and manage them.  Great communication, low maintenance on our part and just a great guy.

@Carl Fischer we are aiming for it, just having difficulty justifying to underwriting that Florida will be a permanent residence despite our current income in California.  Chase and Quicken mortgage said it would not be possible. Attempting with a few smaller mortgage brokers now.

Thanks Carl and Basit! We appreciate the feed back! I'll pursue an FHA loan through some lenders and see what shakes out. Thanks for the insight!

Hey everyone!  Hoping for some insight on a complicated issue.  My fiance and I have been travel nurses for the last 3.5 years. We lived, went to school and maintain our residency in the state of Kentucky.  We have worked from Virginia to California and even to Hawaii.  We have maintained our residency in Kentucky for the duration of our travels.  Last March, my fiance purchased our first investment home in Florida.  We are currently looking to purchase a home in Florida as our permanent residency.  We hope to continue building our rental portfolio and want to have a home base to use when we are in Florida.  We recently got 'per diem' jobs in Northern California that are technically on call positions, but we are currently working full time hours.  We do not have any other income except for this per diem job, but still may take another travel assignment in the Northern California region.  We have an RV that we use for housing that we had to purchase in California and have it registered in California due to their state laws.  

The plan is to purchase a primary home in Florida for both of us, declare non-resident status in the state of Kentucky, move our belongings, licenses, tax addresses, etc to Florida.  We will not have any income from the state of Florida besides the one rental property that we currently own.  We may purchase a multi-unit house and reside in one of the units while renting the others.  At this time, we do not plan on spending much time in Florida as we are working hard in California, but have the intent to move full time to Florida in the near future.  With travel nursing, we made a low taxable hourly wage and received a large tax-free living stipend, but now we are making a much higher, fully taxable wage.  We do pay California income tax.  While we were traveling, we would pay the state income tax of where we worked, as well as in Kentucky.  We currently do not plan on buying a house in California and we are only using our RV as a place to stay while working here.

With that being the situation, here are my questions:

1. With the purchase of a house, transfer of addresses to Florida, and intent to move permanently in the near future, would that be sufficient enough to establish residency? 

2. Any disadvantages of just filing for residency in the state of California versus Florida?  Our primary income is coming from California and is already being taxed.  The main disadvantage I would see for this is if we plan to start another travel assignment.  We can not do a travel assignment close to our primary residency address.  If our residency is in Florida, we are open to doing a travel assignment close to where we are.  If we move our residency to the location we are staying, we would have to get a travel assignment further away and it would just be more complicated.

3. Would we receive any tax credits on our California non-resident state tax return if we lived in Florida as a resident?  I'm assuming I will just pay 100% of the state taxes owed to California and nothing to Florida, whereas I have been paying 100% of the state taxes owed to California and a portion more to Kentucky.

4. I would love to purchase a four-plex house, live in one unit and rent the other 3 units out and do so with an FHA loan. Argument being that Florida will be our resident state, we have family there and already own one house there. One lender already said no way that would work. Any input on the chances of getting an FHA?

Thanks in advance for any help and insight in to this.  We really appreciate it and look forward to hearing some answers!

One More vote for @Jeff Copeland.  My fiance and I bought our first investment property in St Petersburg last year. He helped us through the whole process and currently manages our property. We're about to start looking for our next property and wouldn't go with any one else

I've been taking some time off and just now reading about this.  If I purchase today, are the bonuses/webinar included since the webinar was pushed back?  Thanks!

Hey Craig,

My girlfriend and I are travel nurses and have been traveling for 3 years now.  There are ways to target travel nurses without any discrimination.  There are facebook groups for travel nurse housing and you can just post your listing there.  Typically, travel nurses sign 13 week contracts and can extend up to 1 year in an area.  Fully furnished places are a plus, but every traveler is different.  Some just travel with clothes, while we typically travel with quite a bit more.  For the most part, they are great renters if you don't mind the short term aspect of it.  You could include on AirBNB something along the lines of "travel nurse friendly" or just include "travel nurse" somewhere in the description.  The facebook groups are usually pretty successful for filling.  Check out" Travel Nurse Housing - the gypsy nurse".  It has over 34 thousand members.  You can also reach out to some of the companies if you want.  That might be a headache to get things started with it, but might be worth it in the long run.  Check out some of the bigger companies that do housing.  We have an option to take company housing or do our own.  We have always done our own housing, but currently traveling to work in Maui this summer and taking company housing there.  A few companies I can think of:

Medical Staffing Solutions Inc (who we are with now)

Aya

American Mobile

IPI

I'm sure there are a lot more.  You can search top travel nurse companies and just give some a call.  Best of luck and thanks for helping us out!  

Hey guys.  Thanks for the responses.  David and Brad, I sent you PMs.  Michael, travel nursing is a blast, but we do want to settle down in an area eventually and have been debating on where.  We have the luxury of choosing anywhere, but if we want to invest in real estate, we have to consider the market, especially in the long term aspects.  The Bay area has crazy housing prices, but also looking at severe drought problems with no current solutions.  If I was to invest that much into my houses, I would want a better guarantee for long term stability than what California has to offer right now.  Looking at long term weather and drought models just makes us too scared to invest out West.  I have noticed a flips on the market for months with decreasing prices and we aren't planning on trying to flip in this market.  As for Trump, who knows what will happen.  It's an uncertain time for everyone, but somehow the stocks have been rallying.  We are definitely not investing into stocks right now, thus looking to real estate as an alternative.  

Hey David.  Don't know if you are still traveling or not, but my girlfriend and I have been doing travel nursing for over 2 years and recently bought a 2016 35' travel trailer.  We were tired of going between furnished and unfurnished houses and paying extra for short term leases.  As we travel, we pay off the trailer and will sell it once we're done.  Just a win-win in the short and long term

Hey everyone. My girlfriend and I are new to BP and have a unique situation. We have been travel nurses the past few years and are looking to start investing in some properties. We are originally from Kentucky, but have no intentions of settling there. We are looking to start investing in the Florida market and have been analyzing the markets of Jacksonville, Orlando, Tampa and St. Petersburg. We are currently in San Francisco and will continue to work out here for the next few months. We plan on continuing to do travel nursing for another year or two, both for the income and adventure of it. We are trying to learn as much as possible before settling on an area that we want to develop and eventually live in. Looking for some feedback about how everyone feels about the Florida markets. Obviously the best thing we could do is take some time off and spend some time in each area, but that may not happen until we actually buy something. Sounds a little crazy, but we enjoy the adventure. We have always wanted to settle somewhere on the East Coast and California housing prices are a bit steep to just play around with. My girlfriend's mother and step father live near Orlando and would be able to help out until we physically move down there to settle in. He has rental/contractor experience and she is retired. We have considered property management, but first we need to find a market. Ideally, we would like to start off with a nice quad, off street parking that has a good cash flow, even if the cost is higher. We would consider duplex/triplex as well. Prefer to stay away from condos due to HOA fees. I would like to get into single families once we are in the area. Obviously a lot up in the air with the new Trump presidency coming up, but we plan on holding these properties. Any inputs? We will be flying to Orlando/Tampa area this coming week and will have a few days to look around and are interested in finding investor friendly realtors to pair up with. Thanks for the advice and inputs!