All Forum Posts by: Jennifer Slaughter

I think @Michael Hastings, kind of touched on this, but finding a common goal or value definitely helps.  Any time another person feels like someone is trying to change them, or forcing them to drink from a fire hose, it can make someone shut down or be disinterested.  I know I would probably feel that way! It's amazing what finding a goal together or speaking your spouses language can do.  

I caught the REI bug first and my husband is an engineer. Once I started analyzing properties and showing him the numbers he took off on his own making spreadsheets. His excel work has been hugely valuable to our goal setting/business plan. His gift set is completely different than mine. I can hardly open excel ;)

@Sheeva R. I want my investments to be in an area with a diverse job economy, population growth, jobs not based on tourism but in public and private sector, strong renting population and a reasonable point of purchase compared to what my tenant will be paying in rent.  A good place to start is by purchasing a property evaluator app and start analyzing available properties to develop criteria.  Get comfortable with the numbers. Read some of the books available on investing and start talking to people in the markets you are interested in.  

I am far away from my best performing investments, as long as you have a great team you get get anything done remotely.

@Erik Peddle has a point, it is important to zero in on an area where your goals are feasible.  As far as what you should do, well you could do anything.  Figuring out what your "why" is is helpful when defining goals.  Why do you want to invest? How would you spend your time if you were financially independent? Questions like that will give your goals some purpose.  Once you identify your goals I think it is important to pick a strategy, build some traction and become an expert.

I always think you should get started as soon as you can. It was pretty simple for us to get started while my husband was still in the military with our rentals under management. I'm pretty sure your VA loan can only be used for owner occupant so it just depends on where you want to invest. We invested remotely in specific markets but we had friends who would purchase a home with a VA loan at each new duty station. When it was time for them to leave they would convert the loan to a conventional and keep it as a rental, and then repeat at the new station.

Thanks @Tim Spires, try this link

@Lucas Mills, this is such a good question and I'm not surprised you are getting different opinions/standards.  It really is subjective to the type of property you are purchasing.  

When I am analyzing a property I usually conservatively add costs for cleaning/maintenance/capex/property management/vacancy.  However, the properties I buy out of state are completely renovated before we place a new tenant and the tenant brings all of their own appliances.  I plan to hold those properties for 5-7 years because with a newly renovated property, my capex will typically be lower for the first 5ish years. After that period I will sell, rinse and repeat.  Does that make sense?

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I agree with @Greg Scott, whether I see a house or not it is all about the numbers.  Most of my houses I have bought without seeing in person, but I always make sure one of our professionals checks it out in person.  

Similarly, when we have bought stocks or invested in mutual funds I have never visited company headquarters or sat down with the CEO's of the companies I am investing in, it is all about returns and track record.

@Diane Stinebaugh, I would evict.  He might have all the time in the world to keep your place clean if he isn't working but the biggest bother to me would be not getting paid.  I don't know what the eviction process is like in Arkansas but I would bet that once you are done you can find a tenant that pays and takes care of your place.

Click on the link to view our Offering Memorandum