All Forum Posts by: Kenneth Hynes

Welcome @Georgia L. 

BP is a great resource.  head over to the new member thread and introduce yourself .   you are sure to pick up some netwroking info there

Also,  BP is 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. n.

@Kendall Harn Welcome Kendall 

  There are a variety of ways to get information education.  

Go over to the new members thread and introduce yourself, where you are from and your REI interests. you are sure to pick some hits from people in your area

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.

@J. Martin 

Great topic and thanks for posting .  

I have another bit of advice that leads to a "frugal" / savings lifestyle.  If you are in a job where raises are structured based on time and or promotions , take 1/2 of every raise and start / add to to an investment account.  That way you never see/ miss the extra money coming in.  Especially helpful for some military first starting out, as you get pay bumps at 2/4/6 etc. 

Hello @Shepard Solomon 

I am in a similar position, and moved quite alot over the past 20 years .  I currently have 4 homes (4 different states)  that I rent out that I used to live when I was stationed at that particular base.  Couple of tips I picked up

Use the time you have on location to scout / vet property managers.  View how they list properties and  what there maintenance procedures are .

When buying , view the property through the eyes of your prospective tenants.  that means schools, security and commute , usually to and from post 

your main "competition" is from On Base housing, so you can check out to see what the wait times are for families , and what are the amenities they offer on post residents 

get to know your neighbors so they can act as a second set of eyes after you leave

Have some others if you are interested

Ken

@Kris C. 

Welcome to BP and to Washington

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 free BiggerPockets 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

@Joshua Morris 

By deprecation , it means you can take a "non cash" expense on your tax return to lower your income and possibly show a passive loss to shield some other income.   This will show up on your schedule E if you are filing as an individual 

Will try and make it.  Coming in from Olympia.  

@Mark Godlewski 

Welcome to BP ;  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 70 past ones to catch up on.

Read some of these books ; personal favorites are the McElroy books

http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/

@Leonid Stakhov 

Was it a Bank or Tax auction? first step is to follow Maire advice and see what is is zoned for . If it was operating as a duplex and you have to turn it back to a SFH, that could significantly increase your rehab $$

@Joshua Starbuck @Caleb Mclamb 

Both Welcome to BP. Paul has some excellent suggestions. for other REI books, check out the post

Read some of these books ; personal favorites are the McAvoy books

http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/

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 70 past ones to catch up on.