All Forum Posts by: Greg Fend

@J Koehne, AH is a pretty wide-ranging area for such a small pocket of greater San Antonio. I love the historic feel of the neighborhood and all the work that everyone has done in the area to keep things looking great.

I think if we get the right person through the door, we'll get a great offer on what is a great house, IMHO!

Thanks, @Tom Keith!

Want to buy it?? :)

Seriously, though, thanks for the positive feedback!

@Paul James, thanks for the recommendation; not a bad thought!

@J Koehne, we haven't gotten any offers yet. It seems to show well, but haven't really received any solid feedback as to why no one is making an offer. The area is really great...we just closed on our first project on Corona after sitting on the market for a little longer than we would have liked. Corona was our first flip as a team (our EGR Properties team), and we got to learn some lessons, including some minor GC issues on that one. As to how we found it...we picked up both our Corona and Tuxedo places through New Western (Paul James' team). Overall, very happy with the Alamo Heights area!

Shoot me a message if you'd like to connect. I'm the "removed" partner at the moment, as I'm currently stationed in Korea. But still always looking to build my network!

We listed our latest flip in San Antonio 42 days ago. The realtor is doing a good job of showing the house with some decent traffic, we've done some staging, it is in the desirable Alamo Heights neighborhood, and all seems to be ready. We've even already done one price drop.

I understand the need for patience. I'm just curious to hear from the community: what actions do you take after a flip has been on the market for a while to improve your chances of getting an offer worth taking? Do you continue to make small improvements, additional price drops? My partners are thinking about painting the exterior and adding some shutters to increase the curb appeal (although I think it still shows pretty well).

What are your thoughts, BP?

If interested, here's the link to the listing:

http://realestate.sabor.com/homes-for-sale/TX/San-Antonio/78209/202-TUXEDO-118555986/popup

Greg

Originally posted by @Robert Leonard:

Step 5. Live below the standard the Army will allow. I'm not suggesting you put the family on the PB&J diet or anything extreme. Just tighten up your budget and be smart about controlling your spending. Live off post when you can, but only when you can find decent housing that is significantly below your housing allowance. That's added income for saving and investing.

Just remember that when living off-post overseas, you receive Overseas Housing Allowance (OHA) and not Basic Allowance for Housing (BAH). The difference is that the military will give you a set amount for a region stateside with BAH, but only gives you the exact amount for your lease overseas with OHA.

I agree that living off-post is great in Germany...I did it from 2000-2003. But you will not realize any capital savings by doing it. Better things to consider are proximity to base facilities, commute times, etc.

Enjoy your assignment and keep reading BP! There's quite a good representation of active duty and veteran investors here!

Regards,

Greg

@Joshua Dorkin --

Thanks for the great article and the support for veterans and active duty folks (like me) that are choosing to invest in real estate.

Trying to build your real estate holdings while still active duty can be a challenge, but can also offer great benefits. And it's certainly possible, even with the constant moves and deployments. I'm living proof, as I was in the middle of closing a deal while at the same time getting restationed in South Korea for a year (I've been here now for just a couple weeks). It's amazing how much you can do with a smartphone, decent wi-fi, and sweet-talking someone into letting you scan some documents!!

Also, as always, thanks to everyone at Bigger Pockets for sharing their knowledge and wisdom. It's been invaluable for me personally as I work towards the goal of getting myself set up for life after the military!

Greg

If you or Brandon ever need any more insight from someone active duty, don't hesitate to contact me!

I've got three MFH in Harker Heights, which is the newer, upper-income neighbor of Killeen. There are some great opportunities in Killeen, and the Fort Hood military base isn't going anywhere any time soon.

One of the difficulties with the Killeen/Fort Hood area is that builders are putting up new construction all the time, offering new places that are priced right within Soldiers' housing allowance rates.

For MFH in the area, you have to be willing to honor the military clause and expect turnover every few years if you rent to military. But there's never a shortage of tenants flowing in all the time!

Being active duty military myself, and having been stationed there a couple times, I really like the central Texas area and am continuing to look for good deals to expand my portfolio.

Greg

@Andrea Shields ,

I'm using Keith Prang at Gold Medal Property Management for my LLC's three 4-plexes. He's our third PM, and I have nothing but good things to say about his services! I hope he can help you out. Tell him Greg from EGR Properties sent you his way!

Contact info is:

2330 Verna Lee Blvd

Suite 112

Harker Heights, TX 76548

(254) 393-0240

@Roger Heiser, I'd recommend taking a listen to BP Podcast 38. Travis Daggett does a great job breaking down his strategy on HUD offers!

Disclosure-I myself haven't yet done a HUD deal, but his method sounds pretty darn sound to me!!

Brian Phillips , the one time I've tried it, the bidding went above what I was willing to pay, so I bowed out. Took a couple of weeks to get my deposit back. Hope you have good luck! Post your experience when you win!! Greg