All Forum Posts by: Dan Krupa

@Lynnie Murray, that is not crazy at all. Look at any of the midwest cities. That 120k will go far, especially if you use it to put 5-20% down.  You need to find a really good, honest broker or agent who works exclusively with investors. My broker, for example, does a ton of work with out of state investors and people all over the world.  Find someone like that. Who will explain the pro forma, face time with you as they walk a house, sends hundreds of photos and videos, and even do repairs if necessary. Otherwise - it's tough. Don't use any old, regular agent. That won't work and you will get burned. Also, I would say stay away from most of the turnkey operators but that is merely my two cents. Feel free to PM me or my wife @Michelle Krupa if you have more questions. Good luck to you guys! 

@Bryan Rhoads , not be charged sales tax?? Not useless you pretend to a charity and want to go to jail for falsifying documents.  The 10% covers your taxes.  

@Christopher L. , listen to @Andrew Syrios - he knows his stuff. I would second the Waldo vote and the S/SE portions of Raytown.  

Additionally, the Northlands/Gladstone/Liberty in MO are rapidly growing and developing.  If you can find a building up there you will see great future returns. Good luck to you.  

@Benjamin Kelly, welcome to BP. I am currently transitioning out after 12 years. My wife and I recently started our own real estate investment company and to date, it is taking off. I have a good buddy out in Phoenix I served with on my first deployment to Iraq, who is also in finance.  Are you looking for someone to talk to about RE investing or more so about your corporate job/work life balance?  

@Alex Royster , welcome and stay safe brother. I am confused by your post. You said the rent and mortgage are 1527...why are you combining those two numbers?

1. Use redfin.com to search for properties- they have a broker in every state and their site updates almost as fast as the local MLSs.

2. To find rents check out rentometer.com to get an average. Then go to craigslist.com and search for rentals. They have a map feature. Plug in your zip code and search within a 5-mile radius. Look and see what is available for rent and what they are charging. That is truly the best way to find rents if you aren't back stateside yet. When you get back home do some secret shopping of places available for rent.

3. With the VA loan - put the minimum down.

4. Are you buying an SFR or a multi?

5. SFRs are harder to make work but definitely doable.(more doors = economy of scales) If I could do it again I would have bought at least a duplex to start with, if not more like a four-plex.  

6. You can access the BP calculators five times for free to run your buy and hold numbers. But honestly, you simply need to figure out what your PITI is (principal, interest, taxes, and insurance) + maintenance cost per month + CAPEX per month + vacancy. Those numbers combined should be at least $100 less than what the average rent for a property similar to what you bought, in good condition.

Does that all make sense to you? If not PM me and I will talk you through some of it.

Good luck airborne.  

@Joe Johnson , welcome to BP! Are you a Stryker guy?  Good luck to you and your investing. Getting started young is the best thing you can do! 

@Joshua Ibarra it all comes down to cash flow.  If the 300 year gives you an extra 50 to 100 dollars a month but the commercial saves you $125 a month from reduced term length - go with that. Personally, I would take the 30. Some people want their properties paid off faster. I will take the tax deduction, passive income, and decide during year 20 to 30 if I want to pay it off, sell it, 1031 it, or simply keep letting it do its thing. Only you know what your investing objectives are and your goals. 

@Chris Nordella, maybe I am slow...where is the amount for principal and interest???

@Tristyn Brown glad I could help. PM me or my wife @Michelle Krupa if you have questions. Seriously! Don't be shy to ask. We are here to pay it forward.  Good luck. 

@Joe Koppel , sorry to hear about your divorce. Unless you wanted it...then welcome back to freedom.  Phoenix is awesome, in my humble opinion. However, that market is real hot again.  Do you want cash flowing properties only? The midwest offers a bunch of great cities where your money will go far.

You are going to get a ton of offers from TKOs...do your due diligence. Find someone local to ask about their reputation and the areas they are recommending. Best of luck to you!