All Forum Posts by: Kevin Toland

@Michael Macklin, Will do and thanks for the information. 

@Michael Macklin

Michael, I appreciate you responding to my post. I'd definitely like to hear about that realtor and lender in the Fayetteville area. Thanks, Kevin

@Brett Campbell

Sounds good. I'd love to talk with you. I'll contact you on PM to talk. 

Thanks, Kevin

@Greg Scott 

@John Leavelle

Thank you both for the response and sorry it has taken me a whole month to respond. I'm currently on deployment in the Middle East and the internet connection is limited so I have not spent much time on BP. Thank you both for your time though.

-Kevin

Hello all, 

My name is Kevin Toland. I am an active duty military member in Fayetteville, NC and also a real estate investor. I currently have 1SFH rented ( on the north side of Fayetteville close to Methodist University) and am looking to purchase another soon. I am using a property manager for my current property and due to deployments and a busy schedule I will continue to do so going forward. I am looking for referrals for my "Investment Team" in the greater Fayetteville area; I'm looking for a good:

- CPA (familiar with Real estate investing as well as military tax issues)

- Lawyers specializing in Real Estate law

- Real Estate Agent familiar with the needs of an investor

- Bankers and  Mortgage professionals

- Financial planners (familiar with REI)

- Property Managers (I'm happy-ish with mine but am always open to suggestions)

- Contractors

- Home Inspectors

- Any other valuable professionals I have forgotten to mention 

Thank you all in advance for your time. I'm getting back from a deployment at the end of October and am ready to hit the ground running. I'd also like to meet up with anyone in the area looking to network. Hope to talk to some of you soon.

-Kevin Toland

Check out areas a little south of the greater LA area like Oceanside, Vista, Temecula, etc. Many of the areas that service the enormous pool of Camp Pendleton renters. Oceanside is becoming an even nicer town than it already is and is definitely on the up. You can look at what the Basic Allowance for Housing (BAH) in that area based on rank and geographic area (just google BAH, Camp Pendleton 2017) this will give you an idea of what active duty people would most likely be willing to pay in the greater Camp Pendleton area. Just a thought. Good luck

Hello all, I have a quick question about the Cap Ex and having a home warranty; are you not preparing for some of the same things by having a home warranty as you would be by setting aside said amount for Capex?

I have an American Home Shield Warranty on a single family, 3&2, rental property I have (its my first rental and things are going well) and it costs me a $550/ year or $45/month. I want to ensure that I'm covering myself safely for Capital Expenditures; but are not some of these situations, not all but some, covered by the home warranty and with that do you subtract that amount of coverage from what I should budget for each month for Capex? For example should I now budget $150/month instead of $200/month?

The American Shield Warranty has been awesome and has already much more than paid for itself, I will  definitely  use one with future properties. Please let me know what you think and how you budget for that stuff. I appreciate your time.

-Kevin Toland

@Natalie Schanne, @Nathan Gesner

Thank you all for the advice and taking the time. I'm probably going to hire the PM, I've spoken with a few in the area and have decided on one. Thanks again, Now I'm interested to see how the next phase of this goes- actually having a renter.

Everyone, 

Thanks for taking the time to answer, all very good advice. Yes, I do feel like I've answered my own questions. It does make sense that if I'm out of the country then I would need someone to do the heavy lifting. 

Ron Rohrssen, to answer your question the PM fee would not be the difference between being in the black or red so I guess it's worth the investment to cover my bases. 

Thanks everyone. 

-Kevin

Hello all,

 I am about to complete my first rehab and have it rental ready. I've never done this before, so I'm looking for a little "been there done that" knowledge. I'm an active duty military member with a couple of young kids and I will be deploying in a few months. My wife has no interest in dealing with tenants (understandably) but I have an offer to rent coming from the guy who has done most of the work on the house. He and his wife are established contractors who've been in the town for like a decade or more and own a business there. He's a busy contractor who sub contracts for my main contractor and I know they have a lot of work (I'm mentioning this because I think it speaks to him not skipping town). My question is- Should I spend the money and hire a property management service or give a shot a doing it myself? If I do the lease and paperwork right up front then what's the worst that is likely to happen and I'm not asking that rhetorically - am I not protecting myself by using the tenant screener tools on here and having a lease drawn up by a lawyer? Property management is about 10%, but on the flip side I will be out of the country for a few months. Any thoughts? Thanks in advance for your time.