All Forum Posts by: Frankie Woods

@Adam Hughes I have a SFR that I had as a primary. I use Strano PM. They are awesome. Bought it for 185k, rents for $1650.

I would think a 20 min radius is still considered a home field advantage.  Most people have the ability to learn an area of about a 3 hour radius.  

I do agree with @Rick Gibson, you definitely face less competition on the IL side.  The property I have in Belleville is one of my best performing assets.  

I still own my first property: a condo in Ohio.  It's still my worst investment, but the knowledge gained as paid me many times over.

Try doing a cash-out refi vs. the LOC. Talk to as many banks as possible and speak to upper management. Consider effective tax strategies to improve your DTI in 2019.

Can't really give adequate advice without knowing your goals.  As a fellow military member, I've kept all 5 of my rentals while I was in.  I purchased, moved on, and continued the process.  It's worked out quite nicely.

I use Sarah Grobe and @Peter MacKercher.  PM for contact info.  I've purchased five MFRs in St. Louis since 2014.  STL is a great market with room to grow even with the softening market trends [which of course are cyclical]

Thanks for sharing!  Stay on the grind!

Try Wells Fargo, PenFed,  and Navy Fed.  Keep in mind that most of these have a max of 5 loans outstanding.  Navy Fed was the only one I found that would waive that requirement.

I have properties in 5 different states.  Distance is irrelevant if you use property management.  However, for the properties I do management myself, I try to keep them within about a 3 hr drive.  Though I do have one that is over 1000 miles away that I manage myself, but the two tenets that have lived there the last 10 years knew my neighbor :)

@Bart H. I forgot that Texas had much higher property taxes than most states.  Additionally, I didn't fully read her comment as removing the homestead wouldn't fully solve her problem.  

I would focus on getting my husband on board.  If you can't do that, you'll simply have to wait and save up the old fashioned way unless you can bring in a partner who has funds to assist you.