All Forum Posts by: Chris Parker

@Shaun Weekes Thank you for the reply. I didn't realize there was a difference between Fannie and Freddie with the two year rule. I read your blog and it was very helpful. I will make sure the loan is structured correctly.

On banks, we're about to start looking into pre-approvals from local banks. The area we're looking into is a relatively small town (10,000) and prices are relatively cheap so hopefully we can find someone willing to loan at under 50k. If not, I'm learning tons of ways around the whole bank loan deal. Thanks again for the information.

@Bill Gulley My goal is to pick a degree that will both help my RE endeavors as well as help obtain a career to feed the RE machine. Six months ago I would have never considered a career in finance, but that's what happens when you find your passion. I was reading nolo.com's Every Landlord's Tax Deduction Guide last week and couldn't put it down. It took me turning 30 to finally find my passion, but I guess some people never find theirs. Thanks for the advice!

@Michele Fischer Thanks for the welcome! There are of course still good things to learn from near the other Bellevue as well! We're definitely looking more at the properties in TN, but we're wasting so much money in rent right now we want to get something that will make us money while we're still in NE. 

I've bought a few of the books I've found mentioned on BP (HOLD, Buy it rent it profit, The Richest Man in Babylon, etc) but haven't gotten into the costlier books yet. I will definitely look into finding those. 

Thanks again for the welcome!

@James Park While I do have the time and money for college, I wasn't aware of the opportunity with CCIM you referenced in your post. I will definitely be adding it to my education plans on top of everything else. Thank you for the suggestion as well as taking the time to link to the classes. Much appreciated!

 I think that is very sound advice and pretty much what I'm looking for. I somewhat have the vision, I just want the degree that will help make that vision a reality.  Great advice and I think, as @Brandon Turner would say, very Tweetable!

@Account Closed That was the idea originally, to use the VA to get our first home, move and rent it out, and buy another to live in. Since we may not live in NE for the long haul I don't think it makes sense to buy the very best, but instead get a nice investment going.

@Robert Leonard Thank you so much for the references. It makes me feel better about my plan hearing it from someone else. We were approved for 150k a few months ago, before the extra 35k came into the picture. The property you described is exactly what we're looking for, a 3 BR SFH or duplex in a good neighborhood. For SFH we're looking around the 80k mark. Only considering the higher number of 110-120k for a duplex, but there are lower priced duplexes available.

It's taken some time to get my wife on board (she wants a nice house with all the bells and whistles) but she's starting to see that this is best for our future. Thanks again for the great advice.

Thanks for all of the great advice and insight guys.  

@Greg Baker I was thinking the same thing about accounting, marketing, or finance. There's a course at a university nearby that has a pretty comprehensive degree called Business Enterprise and Essential Management Skills that I think would be useful toward both RE and an entry level W-2 job. I'm currently in the Air Force and will be for then next five years so I luckily have that income for that time period. Planning for the future though. 

Any thoughts on RE management certification courses? The school I'm with now, AMU,  has one available and may have good information. Then again so does BP. 

@William Strong Definitely hit me up if you're ever in town. I'm out of town until the Spring, but plan to get involved in the groups once I get back.