All Forum Posts by: Derek Okahashi

I am in a strong financial offensive mode in building my cash position right now. I basically work two jobs and save 5k a month. It's really one demanding job and then full time school (the GI Bill pays me to get good grades...for now). I have very little time after those two things, U.S. Coast Guard Reserves, fatherhood and being a husband. 

I've been trying to work with my out-of-state cousin to find a deal. He owns 30 homes with a partner and 10 or more of his own and brokers, flips, and wholesales but the right opportunity hasn't popped up there either and, I have to face it, he is a busy guy himself. I know there are deals in any market and I have been a business owner and forged these relationships that lead to opportunities in another space, but I don't have that kind of time any more. Really, any little amount of time I have left should be spent with my family or doing something for my health. 

All that said, I am considering just going turnkey with MidSouth Home Buyers to get my feet wet in this game. I met someone today who has 2 homes with them and is very satisfied. 

I appreciate your thoughts.

I'm currently visiting family. When I proposed to my sister that she use Personal Capital, a financial tool that shows you spending habits, investment performance, budgeting and other stuff, she turned off immediately. "No because you're going to want me to read something or learn something and I aint doin' it."

People are just committed to comfort and not growth. The idea that they have this entity and own it is comforting. The idea of selling it poses growth requirements that they do not want to deal with. They'd have to maybe learn something about the market. Maybe learn something about taxes or reinvesting. It's just commitment to comfort. @Gabrielle E.

Sue K. It is @chrismason (idk if that'll tag him). I met with him last week and he taught me the same regarding my military disability income. I'm surprised that paying up front is such a big red flag. I will be moving and probably renting in the next two years. I'd pay up front for a chunk of needed. I figure most people barely have savings and it's show my strong financial position. Good to know though...

@DL Martin No sir, they aren't frivolous like that. They actually live at little to no living expenses while helping a parent. They're a good couple but just not quite sophisticated with the numbers yet I think. Hey, I wish I had bought when they bought. I was too scared. 

I read your profile. Thank you for your service. My 6 years active has also set me up for a lifetime of success. Aloha!

@Katherine S. that is a great point. I am hoping that this thread leads them to sign up and start getting a bit more sophisticated with their investment. They made a great decision in buying that foreclosure in 2009. I wish I had. Now they need the knowledge, as you said, and their opportunities are probably beyond their current imaginations. 

@Mike Flora@Don Daniels@Kory Denny@Bob Okenwa Thank you for your replies. I was using this BP thread as a means to try and offer a great exit strategy on a property that barely cash flows. I figured if it comes from you guys it's a little different than just coming from me, a guy who is working on his first deal and is a mere coworker.
She didn't know her numbers too well but those are the numbers she gave me. I got on rentometer and it looks like they should be cash flowing more like $900/mo but I'm not sure what all is going on.

Thank you for your feedback. I hope to get her to sign up and start learning more.

My other coworker has a property that is vacant and they are rehabbing it for a new tenant. Her and her fiancé aren't sure whether they should sell. What do you guys think? Here are the details:

- purchased in 2009 on  foreclosure for 118k

- currently worth about x3 that at about $350k

- just got rid of a bad renter; 5k in rehab with all their labor and time

- ^^ 15k rehab if they weren't doing it themselves

- cash flows about $200/mo with them managing the property themselves

My coworker has a SFH that is negative cash flowing but that has appreciated to give her about 90k in equity. She married recently and her husband already had a home that is more valuable than her rental property. Can she 1031 into her husbands home by taking that 90k and adding her name to his note? Any other creative ideas?

Hoping to get her to join BP as a result of this discussion. @Chris Mason prob knows the answer already...?

My coworker has a negative cash flowing property that has seen 80k in appreciation and is planning to sell. She was recently married and her husband has a home that is more expensive than her investment she is selling. Can she do a 1031 into that home by adding her name to that note or do you have any ideas? Hopefully she will sign up to BP after getting some good advice here. Mahalo!

Can you guys please chime in? My wife is concerned that my goal of purchasing one home per year over the next few years will prevent us from buying our own home (currently renters) in a couple of years when we move back home. My thought is that we have the VA loan available so we can purchase with zero down when we do move home and that positive cash flowing assets will not look bad to a loan officer. She is of course concerned that all of our money will be gone (it won't but we have the VA zero down loan anyways) and even if we still have savings, no one will want to give us a loan because of our LTV/DTI.

I'm trying to weigh and compare having say 3 performing investment properties in two years and then applying for a VA loan vs buying our primary residence with 20% down then trying to invest with a HELOC. I think I know where I stand but want to get her as much information as possible.

Another obstacle I won't go too far in to is that my mother-in-law is trying to convince us to buy a rental back home in Hawaii that will negative cashflow. She is a broker (not an investor) and just wants her daughter to have some sort of obligation to come home. That's all about that :)

Any advice is appreciated. Mahalo!