Yorktown, VA · Member since 2016 · 22 posts · 3 votes
Hello everyone I am Andrew.
Currently Stationed overseas in Germany with the US Military and been reading BiggerPockets for about 2 weeks and doing some research on the market with the calculators available.
I am from Fresno, Ca but I am looking into Texas, Virginia & Colorado due to not really having a decision in where I go next in my military career.
My goals are to start investing into 2 of any Duplex/Triplex/Quadplex rentals for my short term 2017 and hopefully move onto bigger things like apartment complexes for medium length goals for 2019 with my long term goal being able to afford a few vacation houses around the world to enjoy and retire in.
Favorite color is blue, I like teppanyaki and drinking pina colada's while dancing in the rain.
I see your challenges. Well I would skype interview some real estate agents that actually own investment properties themselves. Some even manage properties. At the end of the day you need a solid agent and a solid and affordable property management co or person. Small property managers can do good as well you just have to make sure you build a relationship and they understand your needs and concerns. Just keep up with BP man and you will get tons of tips and tricks.
I would welcome you to the site, but I am also new to the BP forums.
I am also Andrew. Where in California are you from? Are you planning on investing in California also? It sounds like we both have similar goals in REI.
Nice man welcome to BP I am from Fresno as well. Thank you for serving for us. Well, you if you haven't already you def need to listen to the BP podcast where they talk about using VA loans. You get 0 down and you can house hack the hell out of every 4 plex you own. If I were you I would be looking for triplexes and 4plexes that cash flow well even if 1 unit is empty (the one you're supposed to move into) as long as you leave it empty for a year you can refinance it into a conv. loan and then reuse your VA. They also mentioned that there is a way to somehow use someone else's VA loan or part of it because I think you guys are set at a 400K limit. SO if one of your buddies only uses 200K that might be another opportunity. Keep us posted please by using "Fresno" as many of us have it in our keyword notifications.
If you need help finding a deal in Fresno, Madera or Merced let me know I am well connected in those markets. You really just need a solid agent to work with. Who understands the BRRRR strategy.
Sadly pending on where the military takes me I may or may not be able to house hack but because I am military I do not have to worry about expenses for housing and such so I can go all out on renting in the future.
I have been doing research up and down the central valley but most of it seems pretty closed up. Knowing Fresno and the surrounding area tons everyone is trying to move there for the agriculture jobs and those that spring up because of it. But life around that area is hard. I will also most likely be remote managing any property I get due to being anywhere in the world in 24 hours or less if needed. So my first line of education is how to know I am getting a good deal when I am not able to check out the property for myself. I will definitely keep you in mind!
I see your challenges. Well I would skype interview some real estate agents that actually own investment properties themselves. Some even manage properties. At the end of the day you need a solid agent and a solid and affordable property management co or person. Small property managers can do good as well you just have to make sure you build a relationship and they understand your needs and concerns. Just keep up with BP man and you will get tons of tips and tricks.
Hope you are enjoying Germany. Thanks for all that you do, it is greatly appreciated.
I have bought and sold a few homes and have some buy and holds and was in the military. Being in the military and stationed overseas I would not buy a rental property to manage yourself. You will be setting yourself up for failure. I would wait until you get stationed back in the states and are able to set everything up in person. And then get a property manager since you can get shipped out on a moments notice. Since you can get called to anywhere at a moments notice you want everything to be completely automated before you start.
How do you know you're getting a good deal. First you shouldn't be buying in an area you don't know. Second the inspections will let you know whats wrong with the property if your buying from out of the area. And lastly your knowledge of the area and comps will help you determine if its good to go.
With that said I do know people who have bought properties they have never seen and have been successful. But there is an inherently large risk burdened by you when doing that and you better have all your ducks lined up to be successful. I hope you find your property but don't jump on something just to buy. Stack chips and wait until you get back in the states and make a fully informed decision. Hopefully that's clear as mud.