All Forum Posts by: Joe G.

Chris D., I have been in the military for almost ten years now and in three location where I spent the longest time I purchased a home. After I departed the area, military move, I hired a property manager and rented out the home. None of the homes are in SC nor have I looked into the numbers as much as you have, but I have to say it has paid off for me.

Like Jeremiah B., I can't say I bank tons of money each month, especially using property managers, but I know I do bank over $900 in principle each month. I also agree with him about cash reserves, nothing beats that...the next best thing is having a credit card with a HIGH limit, but I don't recommend that. Depending on the mortgage payment, I am of the mind that a couple hundred dollar loss each month over a year or two is easier to handle than 1-3 months of a vacant home. Recently a friend of my had the Heat Pumps/AC units at his vacant home stolen...who wants to rent a home without them. Even if insurance does for the replacement, more time lost.

Sorry, back to your questions...turning a primary home to rental has worked for me for several reasons: Lowest interest rate, care and maintenance of the home is understood before tenants moves in, jumping in and getting your feet wet is easier with a 'known' home.

Hope this helps. Looking forward to what you decide to do. Please keep me posted, very interested.

Glenn Espinosa my experiences are going better than I first expected 8 eights ago and very much blessed because of timing and other decisions. I calculate a small monthly cash flow in the three properties I have, but I am sure that is negated if I factor in year-end taxes, fire-insurance, and flood insurance on one home.

James Vermillion, did you retire from the Air Force? I would love to discuss with you about the transition, use of the VA Loan, and your calculations for determining which properties are adequate for rehabbing.

First, I am super excited to be joining a community of professionals in real estate. I am eager to learn from you all and take my activities and myself to the next level.

Second, thank you Joshua and all the founders of the site for creating and maintaining this forum.

I am active duty military and have been passively investing in real estate since my first home purchase in 2004 at the age of 23. After ten years in the Army I have moved five times and purchased a home at three of those locations. After moving from each area I found a reputable, and reliable property manager to take care of my investment. The homes are located in Hinesville, GA, one in Monroe, NC and one in Woodbridge, VA.

I am joining your community to expand my knowledge, drive, and connections to build a portfolio of rental homes to supplement my retirement, do real and permanent good, and shine the Lord’s light in ways only He can imagine.

Ultimately I am seeking a mentor in the business to assist with decisions and specific guidance. Until that person is discovered, I am looking for advice on keeping rental homes in owner's name vice an LLC or living trust, tax strategies, owner visiting rental home that is managed by a property owner, dealing/negotiating with property managers, expanding into commercial real estate, using VA loans, and traditional and non-traditional financing.

Super excited and honored to be here with you all. Looking forward to all the future discussions.