All Forum Posts by: William Strong

Gregory Hunter I don't have much experience but this is what I think:

From what I've learned you need to use the sales price of similar houses, not the asking or list price. Also i just listened to podcast 7. And there is good information in there about appraisals but also what kind of comps you should be using.

As far as expenses i was under the impression that the 50% rule should cover most if not all of your expenses other than loan servicing. So for non-recurring expenses i think you would just build up a contingency fund with the money from your 50% allocated towards expenses.

Mike Poulliott one possible away to get in could be using a VA loan on a duplex if your willing to live in it for awhile.

Javier Molina have you tried going to a insurance broker who shops a lot of companies for you? I haven't done it my self yet but heard they look at multiple company's to see what coverages and policies each has in the range you are looking for. Also I'm not sure when your seller bought the house but since you are also va eligible they might be willing to let you assume their mortgage. I don't really know how that works but it might be worth looking into.

Javier Molina I don't think putting a offer for 110 is crazy when they want 130 i can't remember who said it but on one on of the podcasts, the guest speaker said something to the extent of if your not embarrassed by your offer its too high. Honestly if they want to sell it, i'd say its at least 50/50 that they counter.

Brian Mathews FYI living on post isn't always the best solution. When living off post a blanket housing rate is given depending on rank and martial status. If housing that meets your needs is less than your allowance you keep the difference. For me living off post has been the best way to save up money and get squared away financially.

Javier Molina I'm in the military and now have a rental in Las Vegas and live in Omaha. Right now i'm paying for some one else to live in it. I know you mentioned that you moved on but take it from me putting some money to build equity doesn't feel to good.

John

Is there a large market for short termm rentals? I don't know much about REI but 10% vacancy seems low for a property that will have such high turn over. If you don't mind how did you come up with that number?

The report on NPR's Market Place today used this report as a source saying housing was rebounding and how it wasn't a bubble. But in markets like Las Vegas ive heard from some investors that state legislation is artificially keeping inventory low by slowing down the foreclosure process. I know in Las Vegas there are lots of vacant homes that need to be foreclosed but is this the case in other markets as well?

This is something that I have wondered about, I read Rich Dad Poor Dad and some of Robert Kiyosaki's other books and even went to a 3 day seminar/sales pitch. I also have read Total Money Make Over by Dave Ramsey and attended Financial Peace University. I haven't started investing yet but thought the best way was to conduct bussiness through an LLC or some other entity. Wouldn't one of these limit or remove personal liability allowing you to practice Dave Ramsey's principles in your personal life and Robert's principles in your business?

Hi Everyone,

I found it funny that you said omaha is your homaha before i moved to town my friend said he called it homaha as well. I'm new to investing all together and new to the area. How has the area and investing been to every one so far?

Hey Jerrad I'm new to real estate investing as well and new to the Omaha area i haven't done any deals yet just trying to learn as much as i can first. Have you had any success so far?