All Forum Posts by: Mischa Turner

Quote from @Jonathan Greene:

What @Joe Villeneuve said. It's like asking is this deal too good to be true. If you are asking, the answer is always yes. You ran it down yourself, you may only be there for 5 months so why buy an asset just because of temporary location. You have the benefit of 2 VA loans, don't waste them early. If you are being stationed together over this time, keep doing temp or base housing while you are there and when you really like a market, get to know it more so you have a competitive advantage. Oklahoma City is a good market, but all markets can be profitable when you learn more about them than anyone else.

Thanks. I was thinking about it similarly to the stock market where it’s about time in instead of timing. So why not start my portfolio now? I was afraid I was hesitant because it wasn’t perfect, but maybe real estate is different than the stock market?

Hey guys,

I'm going to be living stateside after being active duty overseas the past four years with an itch to get into real estate.

Will be in Lawton, Oklahoma for five months (very slim possibility for ~3 years). This market has low equity appreciation, a dearth of multi-family homes, but a stable renter's market. This leaves me with single-family turnkey or BrRR opportunities, which I would most likely convert from primary residence to rental property six months after purchase. 

I can use a VA loan to purchase a house here, then use my wife's VA loan to purchase a house in another market a year later if not DTI-restricted. Alternatively, I could hope that my next assignment will be in a better market with more options, maybe lower rates, and more cash on hand.

Should I accept that no market is perfect and get in the game now, or hold out for a year to enter a potentially better market with more capital to invest?

Thanks!

Pretty basic question concerning buying MF housing with tenants already in place, either fully or partially occupied. How this kind of purchase might change an investor's approach and how common or not this might be. Obviously the process is mostly the same (?) with an impact on financing options.

For any realtors out there, I'm looking to house hack in the Fort Sill, OK area with VA loan in the next nine months. Haven't heard back from the site-listed agent. I understand it's far out but I'm ITCHY!

First time poster/investor here!

Stationed overseas, but a house on my mom's street just came up for sale. Listed at $88k with a contractor bid for $140k for a complete reno to bring up with two comps for ~$250k. There's also an identical lot next to it that can be included for $10k (big reason for my interest) Definitely feels like a no-go, but wanted some feedback with a couple notes:

1. Appraiser said kitchen seems well maintained despite the kitchen floor completely rotted through in pics. Appraisal and bid generated in same month. Floor repair included in bid. How does this happen? 

2. It's only a single bid, but if its competitive, would demolishing and bringing in a brand-new double wide for $150k be a better idea?

3. Not even going to mess around with calculators yet on this one because I feel like my first property should not be such a huge project, but trying my hand.

Thanks!

-Mischa