All Forum Posts by: Kenneth Hynes

@Ryan Dossey 

Congrats Ryan .  Off to a great start.  Any other promising leads from your DM campaign?    How many times did you do the Mailings until this solid lead?

@Bernie Avila 

Welcome to the site. seems like you are off to a good start. One note of caution, you will have other expenses besides your mortgage payment, so make sure you account for all your expenses when looking at a property. some things to consider are property management , maintenance , any owner utilities, CAPEX, and vacancies, as well as taxes and insurance of the mortgage payment

  As far as paying off one before you get another rental, that comes down to personal comfort level and how much risk you can take .  

@Tamar Mar 

 Welcome to BP and congrats o your first close .  I am down by Olympia   and there are usually BP meetups in the Seattle area every 6 months or so.  

question on your rental.  do you plan on self managing or getting a PM  ?

@Casey Lipe 

  Welcome to BP, and dont be a stranger to teh forums.  @Tyler Flagg 

did a great post about the VA loan , so make sure you check that out. Andrews might be an expensive market to invest, so it may be in your best interest to get an idea of where your next duty station will be and when. I did the classical plan of buying one at every duty station, so now have 5 rentals as I am about to retire , though they are spread out over 5 different states, so having a good local PM is a must.

@Orion Walker 

 Was goin g to jump on here but @Jean Bolger pretty much said everything I was going to say . Some excellent tuips there. If you know his motivation to sell, it would affect what type of deal you can work out with him. Save the more detailed numbers analysis for later unless his asking or stated NOI is out of wack for the area.

Hope the Flip goes well.  look forward to the progress reports :)   Do you haev a goal on when to buy your next multi ?

Elliot  were both homes in the same area ?  and what about the third ? 

Welcome @Kevin W. 

BP is a great resource. Full of great tips and reads. One tip that I picked up here is while you are starting out and saving money for your investments, start driving / visiting areas you would like to invest in so you get a feel for prices, rents , house conditions etc, and visit and look at lots of homes and open houses so your eye get used to looking at repairs / upgrades that are normal in a particular market. I really dont think you can look at too many properties, and the more you look, the more knowledge you will gain for that market

Check out the freeBiggerPockets Podcast- A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

@Roy C. 

  For this debate  , what are you considering long erm  ?  2-3 years , 5 + years <  10 + years.  for some  their job uncertainty  would preclude them from making such a long term commitment, so they would rather rent .   I had one long term tenant (8+ years) that had a goal of a certain promtion at work, and that would have meant a move to a different city ,  she wanted to be able to move with short notice and minimal hassle 

good find .  is your exit strategy buy and flip ?  or hold as a rental ?