All Forum Posts by: Adam L.

I don't know your market at all, but right now for the most part, building is way too expensive for investments sadly. 

My apologies, @Jon Li  I misread the sentence in parenthesis as an increase TO 1500 which seemed really low and odd but that was my mistake for sure. That fixes that and also changes the numbers. You're looking at about a 2500/month loss which is about what you pay in rent right now anyways. That's including the property management, vacancy, repairs, and capex (2100 total) and 7426 PTI. All in all that's not too bad with the better rent numbers. But if you're getting 7k that's a out 2300 a month for rent so if you keep that number when you move out you'll be getting a 10,300/month income which comes out to a loss of 216/month. That being said, you'll need to increase the rent again before you exit to help make up the gap. If you drop the PM from 10% to 8% then you'll only be down 10/month. Lots of options to make it work. 

Best of luck!!! 

@Michael McGinnis, as Joan said, I'm sorry to hear of your grandmother's passing. Never something you want to deal with. 

Please let me know if this is still available as I would love to take a look at the properties. 

Thank you!

Adam

You could put the deal information in here and people are more than happy to help analyze and advise on it. Just try to put as much info in the post as you can so people can get a good idea of what you have and there will be a lot of helpful people who come along. Good luck!

Hello and welcome to BP! First off let me say I am not an expert at all; however, I have done a lot of reading and research and have a decent understanding of some of this stuff. But basically, take what I say with a grain of salt. :)

Depending on where you move in VA you may struggle finding a move in ready MF property for that price so you may either need to put some of your own capital in there (if that is an option) or do something like an FHA 203k loan to start. I say the FHA loan strictly because you can take the loan amount and a rehab amount into the same loan. If you do it this way you can buy a MFR that needs some work (which you cant do with a VA loan in most cases) and then use the loan to pay for the rehab as well. When you finish with that you can then try and refinance with a VA loan and pull some equity out to do it again. With the FHA loan you will not need a really large down payment either so that is a plus!

If you really want to get the MFR I would advise against getting the single family as that will only slow you down and potentially stop you (depending on the timing and other things) from using the VA loan on the MFR. I hope this helps!

@Daniel Mills, I too am in Tokyo. I just realized there are quite a few people here in Tokyo and there is a meetup. I am hoping to get out to the next one. 

@David Powell, I too live in Tokyo and just getting into the REI world. I am still working on finding my first property! I will certainly have to meet up with you and David Gotsill. I didn't realize there was a local meetup but not that I know I will have to work on trying to get out there for it.

Good luck with the investments and I look forward to meeting up! I will send a colleague request to make sure we stay in touch.

Awesome! Stay safe and enjoy yourself. I was a K-9 guy in another life so I worked with you guys often and enjoyed the back and forth with you guys. 

Again, great job, stay safe, and have fun out there! 

That's fantastic, @Ramsey Blankenship. That gives me some motivation for sure as $50k doesn't seem that bad for all those renovations. Well done! Congrats! 

Also, is that an EOD shirt you were wearing? 

@Steven Machuca, some of the books and podcasts on this site will help you greatly and get you motivated to work at this! Keep learning and ask a lot of questions.