All Forum Posts by: Kerry Baird

Please explain what you are referring to?  All of my properties are managed by licensed PMs and are very well NOT discriminating on any basis whatsoever.

I like the upper end of blue collar.

Keep up the rapport with her, and keep following up. The neighbor could buy or not. Still, good follow-up might very well gain you the deal. 

Younger airmen (since I can only speak to the AF) are largely in on-base dormitory style housing, but if they are married or have dependent children there is (often, but not always) the opportunity to live off base.  I added the DoD link so you can determine what the pay is by locality and by rank.  As I said, we look at E-5 and up.  

Our property is currently rented through a property manager, who is familiar with the regulations at our local base/s.  The housing office on the base will want to look over the rental agreement...give them a call if this is a strategy you consider.  They may have an "approved" rental agreement for you to use, that is vetted by their legal department. 

Also, the military member must be able to break a lease in the case of a short or no-notice move, caused by military orders.  

http://www.defensetravel.dod.mil/site/bahCalc.cfm

A number of military personnel have security clearances, and do not want to lose their clearance, and so do not want to risk damage or late pay to the landlord.  All the best~

Tapestry

http://www.arcgis.com/home/webmap/viewer.html?webm...

Lease option out and demand higher than market rents.

Owner finance an installment sale where the interest rate is higher than the original.

Short term or vacation, rental.  Accumulated nightly rents are higher than current monthly payment.

For a long term buy-and-hold, I don't care about the purchase nearly as much as I care about the monthly cash flow.

We are using a Texas Series LLC. Each property goes into its own cell, or series, in the LLC. The properties do not all have to be in Texas. My CPA files the LLC tax return, with a K-1 for each cell in the series. We have used land trusts to transfer title (no bank mortgages on these houses, so no due-on-sale clause).

We aim for E-5 and up, so they have some time in service.  That also allows us to determine what they are paid, also called their BAH cap.  Many of our rentals are near Air Force bases.  All the best~

We, too, have a number of houses near an Air Force base in West Texas.  We like newer 3 beds, and have 1 4 bed, brick houses in a nice neighborhood.  A few tenants are in the oil fields rather than military.  We have the houses managed by a property manager who is familiar with the needs of the military community.  We set our rents at the cap of an E-5, since they are forming families, have achieved a bit of maturity with leadership skills...and there are many more E-5s than O-5s at this locations.  We haven't bought in the nearest neighborhood to the base, which is often dodgy, but close by.

I was marketing, sending out letters to a couple of ZIP codes near my house.  I got a phone call from a woman who had just experienced a divorce.  I asked about the details of her mortgage, while looking it up online.  She was not behind yet, but knew that she would be soon.  I went over to view the house and to talk with her.  There was one stripe of floor tiles missing, where they took down a wall and hadn't filled in the tiles to match the rest of the house.  Other than that, the house was clean.  I checked local records, looking for additional liens.  

I gave her a couple of options, one being slow and a low price with a conventional mortgage, and one being a lease option, and the third fast and sub2. She wanted out immediately. I agreed to pay her moving expenses and first month rent at the place she selected. She agreed. We called a traveling notary to come to the house, and drafted up a purchase agreement and transfer of title document. She also signed a specific POA to deal with the lender. The notary notarized the documents. I got the mortgage information from the woman. There were no late payments. This woman was thrilled to have the potential problem house off her hands, and I bought a great house for a few hundred dollars of moving money. She didn't want to lose any money, and she didn't.

A couple of days later, I found a owner-occupant buyer, who wanted to get a new mortgage in place.  There was about $15000 in the middle.