All Forum Posts by: Gerald K.

@Sean Marquis 

Welcome to BP. A career in the military with a pension when you retire along with a portfolio of rental properties sounds like a great way to build long term wealth. Rich Dad Poor Dad has a great way of opening your eyes about assets and liabilities and getting money coming into your pocket, versus flowing out. BP is great for learning how to do it right. Check out the "Learn" tab up top - lots of great user guides, podcasts, member blogs, etc. Good luck and much success.

@Jordan Sweet 

Welcome to BP. Savannah is a nice area. You've received some good answers on your subject property already. One way to get an idea if an area is desirable or not is to check the school ratings. The better areas tend to have better rated schools. Good luck in your search and much success.

@Loren Thomas 

Welcome to BP. Check out the "Learn" tab up top. Lots of great info - user guides, podcasts, member blogs, etc. You've received some good info on the 1% and 2% rule. It can be pretty difficult to find a good house in a good neighborhood in the Pacific NW that meets the 1% rule, much less the 2% rule. It was easier during the real estate melt down a few years ago. Some areas of the country it's a lot easier to find those type of deals, but those areas tend to not appreciate much either. It's possible, if you find a motivated seller, but typically those low priced houses have problems that need to be fixed - otherwise they would just list them with a realtor and get top dollar. There's also the 50% rule which gives you an idea if your deal might make a good rental. It states that 50% of the rent on average over the long term will be eatten up by expenses, such as tax, insurance, property management, vacancy, capex, etc. The other 50% is for paying your debt service - your mortgage. What's left over is your cashflow. You can search in the upper right [Search the site] field for more information. Good luck and much success.

@Account Closed 

Welcome to BP. You found one of the best sites for real estate investing and networking with others. Check the "Learn" tab up along the blue border. There's a lot of great info there - how-to guides, podcasts, member blogs, etc. It sounds like you and your husband are well suited for fix and flip. Good luck and much success.

@Jennifer Shuler 

Welcome to BP. You have already received some good advice. You mentioned you want to do some flipping of single-family houses in your area. Do you mean fix and flip or wholesale type flip? In any case, there's a ton of info here on both subjects. Check the "Learn" tab up top along the blue border of this site.  Here's a good post to start with: Real Estate Investing 101 .  There is a link to a list of books there also. Good luck with your new adventure. Hope to see you around the site.

@Danielle Burrows 

Welcome to BP. As you already know, this is a great site. I'm not familiar with Kitsap County, but I think the prices would be a lot better for buy and hold. Not sure what the rent rates are either. You would want to get familiar with the area, see what areas you would be comfortable with, and see what the rent rates are. Also, try to find a local REIA in the area to connect up with people there that know the area. Good luck and see you around the forums.

@Kyle Rushing 

Welcome to the site. There's a lot of great info here. Check out Brandon Turner's blog. I think it is quite applicable to you: Real Estate in Your Twenties

You can also check out the "Learn" tab up top along the blue border of this site. Much success to you and see you around the forums.

@Michael Eaton 

Welcome to BP. Looks like you've received some good ideas. BP is a great resource. Check out the "Learn" tab up top along the blue border. Lots of great info. See you around the site.

@Loren Buchanan 

As the other's have said, list them all. As you begin screening tenant's, you will likely run across more than one that meets your criteria, so as one gets filled, you'll have backups for the others. Also, takes up less of your time to do them all at once versus dragging it out over weeks/months.

@Peter Tang 

Welecome to BP. Check out the "Learn" section up above along the blue border. Lots of great info. Good luck with your new adventure.