All Forum Posts by: Carl Davis

Hey Brad!

I'm currently active duty military as well stationed at Hill and I am looking to do this exact thing in the beginning of next year. 

Although I'll be staying in Utah we can get in touch and brainstorm together. The dod website is a good resource as well.

Welcome to BP!

I'm a realtor in Utah and I am apart of the Real Estate association that does weekly meetups. 

It's a great place to get started and connect with other investors in the area.

If you ever have any questions I'd love to help you out!

Quote from @Jordan Moorhead:

@Carl Davis there's almost a 0% chance that is allowed in a new build HOA neighborhood here in Austin

 Never hurts to try or look if it's an option to benefit someone why not try?

Just giving up on something without even trying seems pretty lame to me.

Another option would be to look to see if the Austin home would cash flow as a STR or MTR.

This happened to us in Tucson when we bought a brand new home and 6 months later had to PCS to Utah. Decided to put it on AIRBNB just to see and it's been the best decision. 

If it doesn't flow there and you don't want to put the energy into keeping it you can sell, IMO.

Quote from @Alex Olson:

@Teresa Rex You can put down your $250,000 and buy $1,000,000 worth or real estate in markets like KC, where I am. Would get you 8-12 units, typically, in good submarkets. Happy to chat through how that may look. 

If your priority is cash flow this may be a better option. Investing in Midwest states in other markets generally have higher cash flow and less appreciation. 

I believe the the appreciation we will continue to see in the SLC area will out pace a lot of other markets. If you do want to go ahead with this and stay in the area, I'd be happy to talk to you to look at other potential options!

Like @Victor Steffen said it won't cash flow. This is an issue we see often in the Utah market as well. 

Appreciation is a good  element to focus on however I like to market properties like this to more green investors that could house hack. Someone that may not be opposed to living in a duplex for some, this could cut their mortgage payment in half. If you pair that with the appreciation side of things it makes sense, to me at least.

Hi Jacob!

I am in Utah and would love to connect to help out any clientele you have! I am an investor agent as well that focuses on helping people find affordable SFR house hacks in the area!

My girlfriend and I have had our STR in Tucson AZ for about a year now. We want to purchase our third property this year to continue to scale by house hacking with a VA loan. Currently her mother does all the managing and does a great job and we do pay her. We want to implement a property manager there so that it can take some of the stress off of her mother and be a little more passive. We already have some pretty decent systems in place we just want to hand it off to someone new.

We have spoken to other potential managers but seeing as though they were all virtual it would be like paying someone to do the same thing that we are already doing. Does anyone know any good managers that actually live in the area that wouldn't mind implementing some of our systems to help manage our STR there?

As a military investor myself, I would probably sell this property. Knowing that you would be able to restore your VA entitlement fully with more liquid capital could put you in a great position to buy a multi-family property in FL and have cash for other, maybe out of market investments.

However if you did want to keep it for sentimental reasons i.e. family in the area or plan to live there after separating you could use the Navy Federal homebuyers choice loan which is another 0 down loan option military members have access to. Although a little higher interest rate still a great tool. You can purchase up to 2 unit property with it and then still have VA entitlement left over.

Quote from @Malcomb Stapel:

@Carl Davis taking out a HELOC on your home with the low interest rate will do nothing to your low interest rate. The HELOC will be separate from the original note, and you will just pay whatever the interest rate is on it.

My question for you is, what do you owe on the home vs its current value of $274k ? Most HELOC's will only go to 80%ltv with 85%ltv being the highest I've seen.

 I owe 226k on it right now.