All Forum Posts by: Josh Obregon

Tom Glaspie I think that's spot on with $900 after renovations. Where do you find the dates and times for the auctions?

Jeffery Griggs Alabama address is 3528 Court F Bob Malecki I would love to meet up for coffee and pick your brain about the Kitsap County

Jeffery Griggs with regards to the 4 VA loans, do I have to show intent to make each property my primary residence? Can I hold them concurrently? Or do I obtain a property via a VA loan, then refinance with a conventional loan? Thank you in advance for sharing your knowledge.

Jeffery Griggs all problems I can attribute to me being a novice, first time investor - I bought the property over priced through an online investor network without conducting proper due diligence, I allowed the seller to get away with not fulfilling their promise to place a Section 8 tenant prior to closing and not fixing the noted deficiencies in the inspection. Then because I was in and out to sea and didn't understand management terms negotiation, I allowed the property management company to charge fees while the property sat vacant for 6 months. I hired a second management company that I allowed to charge me "monthly maintenance" fees or at least it seemed that way. Additionally I allowed the second management company to allow the tenants to run a past due balance for a long time. To date the tenants are scheduled to be out of the property by June 1 but now past due on greater than 2 months and I fired my second management company. I do have the property listed "As Is" but have only received offers for about half the listing price. It sounds like a horror story but I learned a lot on invaluable lessons and didn't lose my shirt on the deal. Even the year where it sat 6 months vacant, my RIO was 16%. So it has not been a total disaster but has been an absolute head ache that I want to get rid of now.

I just joined BP. I'm living in Poulsbo, WA. Like many people I hear in the BP podcast and other real estate podcasts for that matter, I was introduced to the idea of real estate through "Rich Dad, Poor Dad." So I took took action shortly after by acquiring a rental property in Fairfield, Alabama right outside Birmingham. Let's just say I've learned a lot from that mistake. Around the same time I joined the Navy which kept me at sea more than I've been in land over the last 4 years which has really kept me from being more involved. I'll be getting out of the Navy in approximately 1 year and want to turn my attention to real estate. Now I'm trying to partner with somebody with experience in Section 8 housing to learn more and help me turn that property around. I am concerned though because Walmart recently closed and many other businesses are following them. To me that is a huge red flag. Once I can move past the Fairfield property, I would like to start investing in the Kitsap County area. I see huge opportunity! The Naval Bases and Navy Shipyard are the big employers followed by academia (the colleges and local school districts). Adding to the appeal of the area is the development of Silverdale which has added a new shopping center that features Forever 21, Total Wines & More, & Chipotle; and renovating older shopping centers that have brought in notable stores like H&M and already hosting Kohl's, Macy's, and Barnes & Nobles. I've been following the area closely. Some key indicating numbers in single family housing are as follows: -Median Sold Price: $292,000 -Sold Listing Price: Up 18% -Avg Days on Market: Down 33% Although single family housing it appreciating well which creates a great fix and flip environment, multi-family seems like a better long term strategy because of the 3-4 year turn over in Navy and Marine Corp personnel. If you've taken the time to read through novel of an introduction, I'd appreciate any feedback! Thank you in advance.