All Forum Posts by: Mike Hansen

My first question would be how long do you plan to be overseas? Is it a term commitment or are you just employed with a company until you choose to leave or move on? The reason I ask you this is because if you're overseas for several years, that is potentially wasted time as time is the most valuable resource you won't ever get back. You can find a rental property and secure it via conventional loan or dscr, either way both you'll need around 20%, and let it do its thing until you get back stateside. You can then find a multi unit that at least has one vacant unit so you can utilize your VA loan. Now, you have an appreciated first rental that's hopefully generating cash flow, and a multi unit that provides a roof over your head and 1-3 units paying down your mortgage while all units continue to appreciate. Hope this helps and provides a different view point

Would it be situation based to determine if a cost seg is worth it when not having REPS or utilizing the STR loophole? It was my understanding that when rental income is in the passive state, one could only write off a max of $25K

Quote from @Travis Biziorek:

Hey Genesis, congrats on looking for your second rental.

I'd highly recommend throwing Detroit on your list of places to check out. It's near most Ohio markets but is far less saturated. It's also seen some stellar price appreciation with the median price doubling in the last 5 years.

I own 12-doors there myself and live in California.

Travis, 

if you don’t mind me asking, what brought your attention to the Detroit area?

 Samuel, would you be willing to share that with me? Been entertaining the idea of investing in Dayton but I’ve only ever been there a couple times for military training. 

Hello everyone. Active duty military and New here to BP while still considering myself new to REI. I do have a couple of LTRs between SFH and duplexes but looking to get into STRs and expanding my current portfolio. I believe there's always a deal to be made but one must have the necessary tools and most of the time those tools are Individuals with Experience. Let’s network!!!