All Forum Posts by: Kai Hodge

 I know Temecula well. My home was in Lake Elsinore ( between Perris, Corona, and Murrietta). I agree with your perception of the market at this time: I wouldn't invest now in that area. I bought my home in 2011 and it was a great opportunity to buy at that time. I'm actually in the process of selling because it never cash flowed as a rental. However, I gained a great amount of equity and hope to use it for future investments.

Good luck to you as well! 

 I'm glad you have a good PM! I think it has a huge impact on your success levels with properties. The PM that I had earlier cost me more than the tenants because the house was vacant for awhile. 

I'm not sure if your investing in rentals in CA or where you are exactly.But I would start looking early before your PCS move. My house was in the Inland empire (which draws military from Camp P and March AFB) and I had a hard time finding a good fit to take over the home. 

 Great advice Jason, Thank you! Actually,  I ended up firing the property manager as well!  He was horrible. He took his time to fix the repairs and couldn't get the house rented out. He actually listed the home to rent with a 1/1  pic and it was of the house next door!  And he claimed to be a former marine but, I would never recommend him to another service member. We usually take care of our own. I could go on more but I'd just get all spun up.lol

Good thing you have a good property manager. I still use property managers but with caution.

 Thank you for your advice. I definitely agree with your mindset of tenant issues being my fault. All of my issues could have been avoided if I had a business mindset instead of a "friendly person" approach. 

Hi BP world!

So, I have been debating for about a year on whether or not to file a lawsuit for damages against my CA rental property? I weigh the pros and cons and overall it seems like it won't be worth the fight. However there is a strong force in me that doesn't like the idea that people can get away with renting properties this way.

Last year,  the former tenants caused $3,00.00 worth of damages and did not pay $1600 worth of late fees and pet fees. They also skipped out on the last months rent but, I was able to keep that from their security deposit.

Im active duty military and have been transferred from CA. So,I would also have to fly to CA to pursue this case.

I take a lot of responsibility for being too nice and not screening the tenants better. Their income was great but their credit was bad and the income was all from disability, child support, workman's comp, etc.  If nothing else comes from this, I learned a lot of valuable lessons. 

Does anyone think this is worth pursuing? Or have any guidance to provide? Thank you for your thoughts!

Hi Joseph!

I would recommend buying a house at every duty station! I usually prepare at least a month out prior to my PCS date. 

The VA loan is a huge asset that you have over other investors. You can buy a property with no money down, which means you can start now if you want. In my situation my husband is in the navy as well, so we have two VA loans to play with in a sense. My plan for us is to rotate out our VA loans when we continue to PCS.* I finance one place, he does the next, Refinance with a tradional loan then repeat the process. *

How I see it is we are just putting our money in the right places. We use our BAH to pay off a mortgage instead of wasting it on rent. 

Also, since we are active,  we buy close base. Which means we are specific demographic for renters when we leave.

Hope this helps! Please let me know if you have any questions. I'm glad to offer what I can.

Kai

Hi Tyrone,

Thank you for the welcome and support! There seems to be a lot of resources and knowledge on the site that I need to take advantage of. I'm eager to learn and excited about this new journey!

Hi Jennifer! I haven't had any formal real estate training at all. If your aware of any local real estate resources,  I'd love to know. I have a great Realtor that helped me find my current home. But that's the extent of my WA resources...thanks for the welcome!

Hello!!

Im Kai and I currently live in WA, about an hour north of Seattle.  I'm active duty navy so we own property in various areas including, Ca,WA,  and MI. I'm looking to invest in rental properties preferably near military bases. My ultimate goal is to invest in as many properties as possible, to prepare for my retirement after service. I've been "creeping" around bigger pockets for about a year. I've read a lot blogs and viewed many videos but, I'm just now deciding to make the commitment to join and be an active member. I hope to gain a lot of education, colleagues, and even friendships! I also hope that I'm able to give all those things back to anyone that wishes.

Have a great day!

Kai