All Forum Posts by: Kerry Baird

There are deflationary pressures: Eurozone is deflating, UK not raising mortgage rates, Fed not raising.  Oil is still weak, Boomers are retiring debt and Millennial buyers are not out in force yet.  

I see weak mortgage rates in the near term.

We started out buying where we lived...first in England, and then near our base in the States, and then in England again.  I thought I was out of the "game" on our last stint in England, but then I started reading here at BP.  I found a guy here (look in my profile) whose methodology I liked.  We bought two properties at a distance.  We bought those in 2012 and just drove past them last summer, and I haven't been inside.  However, the checks have been coming, and I couldn't be more pleased.  Did I pay market price?  Yup.  But the properties were rented, the rent checks came in before the mortgage payments had to go out, and we've been running smoothly ever since.  Do your research.  Partner with someone.  Read reviews.  Whatever it takes for you to feel confident.  At the end of the day, it ALL is a risk.  But, heck, you are in the ME, right?  Is that not the very definition of risky?!  At some point you must *decide* and *take action*  NO excuses.  There is either DO or DO NOT, grasshopper.  Decide and do.

That's what we have done. We've bought near Air Force bases, starting with our first owner-occupied house in England. We sold that, and bought a couple of houses with the money we earned on that first house. We bought another owner occupied house in England, and we bought a couple from a distance while overseas. We continue to buy houses in Florida, where we are stationed now. We've used the tax-free savings from deployments, you know, the 10% on your funds, as down payment money. We have borrowed from TSP for down payments. We have used bonus money for houses. We've seen young airmen get huge bonus money and buy Audis...we buy houses instead.

Nice!

No major tips...but encouragement along the way.  It would be great if you'd get a bit more specific.  Rural and urban covers the entire US of A.  LOL

While we were stationed overseas in the military, we bought a couple of units from a distance; they are located in Texas, and our rents continue to be strong in the Fort Worth metro area.  We've got rentals in a smaller Texas town, but the oil patch slow down is starting to hit with a couple of slow rents due to layoffs.  House prices are strong through the Austin area, and a lot of building on the East side of Dallas...probably all over the Dallas area, but I can't speak to that.

Our other investing location is the Space Coast of Florida; this area is looking busy, with aerospace industry coming back, the Space Center has Space X launches, the beaches are a draw, and Orlando is an hour to the West.  

Some of the turn key folks have lender referrals, which might be of use to you.  I prefer local lenders, relationship lending, which can be hard to develop at a distanced.  ~All the best.

Sounds like this is a great confluence: the right skill set being moved to a bustling metro area.  :D  I don't have any guidance, but want to welcome another military spouse and wish you all the best on your journey.

I'm interested in the same thing ^^  

Have you made any choices and taken any action?  I would also like to suggest following your mentor's advice until you get the retirement "bucket" handled, before going in a direction that would start you out looking to create income (and possible losses)  as you also retire.  I say this because it was at a similar stage that we got "shiny object syndrome" where we got bored with the same old, same old of buy-and-hold.  But that is also where the Golden Goose lives.  And we killed her the first time around.  Now we are trying with a new Goose and (like you) could do a beans-and-rice retirement now, or a buffet a few more years (and acquisitions) down the road.  It has been awhile since you posted, but this post caught my eye.  

Oh.  My.  Goodness.  What a story!  Looks like you've got a great building and awesome tenants.  

I, too, received "the gift of desperation."  I bought a pricey car as mental leverage to get through military Officer Training School.  I didn't finish OTS, and then had a nice big juicy car payment to make, and now no job.  The "gift of desperation" kept me focused. An up-trending market and strong rents made those car payments. We've done the pure flip, fix-and-rent, fix and flip, buy and hold...and it all works if YOU work.  Some of these methods are more forgiving than others. 

I want to know "everything" and you just can't.  At some point you have to choose good people to advise you, such as Realtors, lenders, title folks, lawyers, and then get on out there.  And FLY.