All Forum Posts by: TJ P.

How does that free up the VA loan? Or did I miss something?

I'm thinking that is "quit claim" instead of "quick". I'm wondering how the LLC would free up the VA monies... Would be neat if you could...Vets could could perpetually purchase, wait a year, then roll to LLC...in theory.

I can't provide much @Craig Stephens other than an agreement with you and to tell you I'm in the same boat- "geographically speaking". I think Jay has the Turnkey Review site that has a US map on it. Not too many (none) TKs West of the Rockies. I'm in the Bay Area and it's like Mesa just magnified. I'm renting a 2/1.5 condo right now and they are selling for at least 400K. 

Until the market corrects here, I see no way to get involved in buy and holds. TK seems "nearly" perfect for folks in our situation. I mean how far would you have to drive to be able to put 15K down on a B class property with decent cash flow? I know my answer...it's not driving distance.

I played geographical- bachelor for a year away from my family last year. Lived in a 1/1 in a 100+ unit complex that contained 1/1- 3/2. I was friendly with some of the office staff and would ask about demographics for my RE "research". Turns out there were many smaller units being rented out in similar ways- Young professionals or small families transitioning (this was in Austin, TX so had many tekkies). I had a year lease that switched to a month-to-month as I went over my year by a few weeks. They had someone in my unit the next day IIRC. Easy clean up and no-minimal damage due to no family.

Long description- my point being small units aren't always a no-no.

Too many variables to give a definite "Y or N" answer but as it appears we are in similar boat, I'll give my 2¢.

Different animals when looking at house-hacking a MF in CA or purchasing out of state. Not sure your particular situation but I'll give you my "plan" and take from it what you will.

I recently moved (back) to CA for a job. I make decent $ at my W2 and plan to pick up a side job to pad a solo401K. I have to clean up some credit issues due to bad RE choices made in the past. Next year, I will purchase an "affordable" property somewhere in the South or Midwest (likely TK). With the $ I make in CA, this is much easier as my Xmas bonus can cover a nice down-payment. With significant skin in the game and due diligence on my part, I don't see much risk in this. I have PM'd before but as an accidental LL without proper research on my part. Logistically, I won't be able to from that distance.

The following year I plan to purchase a home here in CA. I am hoping that the bubble will have deflated significantly by then. We (the family) are here for many of the reasons listed- schools, weather, income, etc. In the end however, I do not plan to stay in this area. I would like to ride the cyclical wave of appreciation that CA provides and turn a nice profit or cash flow X years down the line.

@Andrew Bondarchuk

Time for an update- What avenue did you take?

 Would appreciate you keeping us posted, Lynn. You're ahead of me but have taken a similar track as I am in CA and plan to do TK in the South as well.

Please tell me this is an "FHA-only" rule.

 Allison,

Would you mind discussing how you're financed on these? Is this another service they provided or assisted with?

 I'm in the Bay Area and I wish I could disagree with you but alas...

I enjoy the W2 income that comes from living here but investing...yeh, well

Actually looking in your area along with many others way, way, WAY out of state.