All Forum Posts by: Matthew R Curcio

I'm currently living in a house I purchased with a VA loan and I'll be moving in around a year and a half and I'd like to keep the house and use it as a rental. I'm military and I'm near a major military installation and the home is in the most desirable area. But I have two problems, the home is high end and the mortgage, taxes etc are almost 1,900 a month. Add to that the management fee and it's got a limited rental market and not much cash flow.

Also, I purchased it with a VA loan so I'd need to refinance. I've lived here for 2 years so I have a bit of equity and it's appreciated a bit.

Better to sell?

If a place is priced at roughly market value, what is a good offer?  I'm looking at a place for 170k and wanted to offer 150K but my real estate agent claimed that would insult them and I need to stop with the "low ball" offers.  Closing coasts in NY are around 10 thousand so i'm looking at around 160K even if they accepted the offer.  Is she right?  In my way of thinking i'd rather make 10 low offers and be rejected on 9 so I can get the one that accepts at a good price.  

Love the spirit and realism Jerryll!

I attempted to make an offer and it’s now under contract...

@Vitaliy Volpov I’m interested, I sent you a connection request. Also, the more I think about it the more the multi makes sense. The purchase at 25% and closing costs uses up my disposable funds but I don’t need to tap into any retirement accounts, I also have enough to cover anything major if it occurs prior to rebuilding my investment funds (although hopefully it won’t come to that)

BAH is an untaxed benefit expressly for housing and living expenses.  The CO should take it away and force him to live on base as the soldier has obvious difficulty managing finances.

I'm looking in Albany NY.  

I could possibly refinance after a bit if I need it to flip into another place and the market continues to rise.  

I need to pay an inspector to gauge the potential repairs accurately because I lack that skill.  

I haven't put in an offer but I'd say both are basically market value.  The one family is very nice though, the difference between it and homes in the 140-150 range is very evident.  I just don't like the cash flow aspect.  Is 300 a month worth the effort?  

It's fully occupied at the moment with month to month tenants.  The repairs and or other possible expenses are a big concern though.