All Forum Posts by: Richard Capers Jr

@Patric Moore

Hey and welcome to BP! I live in the area and also have interest in getting in to the commercial real estate one day. How long will you be in the area for? I know having the VA loan is a benefit but like all good things, they eventually run out. Have you begun to plan for your ETS? It's good to know your cash flow number so when you get out you'll be on stable ground. Good Luck!

@Eric Smith

Hey and welcome to BP!  What are you looking for in an investment property?  Brick? Beds? Baths? ECT?

@Shiyear Woodbury

Hello and welcome to BP!  Everyone has good advice on this post so for sure look into every detail before jumping in.  Also, if you are able to pay for this home you need to conduct an inspection prior to closing.  I know a few good home inspectors in the area that could help you.  One of those guys invest in real estate as well so you could pick his brain and he'd be able to give you some guidance.  Good luck to you!

@Branden Kline

Like everyone else said, BP is the place where you can learn just about everything you need to know.  Also I recommend reading books that focus on the type of investing that you'd like to do.  You'll never have too much knowledge.  Good Luck!

Richard

I'm a member of USAA and I have never considered using them for anything other than auto and home insurance along with standard banking.

Many local banks have easily beaten their rates for auto loans and it looks like home loans as well.  I'm not here to bash them by any means but in my experience looking elsewhere would be best.

Richard Capers Jr.

@Justin Young

I'm assuming you are a government employee, veteran, or service member.

They should not be able to go after you due to the fact that you will be leaving/moving sooner or later. I also considered using my TSP as a down payment but decided to use my VA Loan to purchase our home.

The problem I had with using the TSP loan is being able to pay it off fast enough to be able to use it on the next deal. For some reason TSP requires borrowers to wait 60 days after paying off the loan to be able to take out a new one. One idea is to buy the home right (at a discount), use the TSP down payment, live in it for a year, try to refinance, and pay off most if not all of your TSP loan.

One benefit is that you pay yourself back with 2% interest. TSP payments come directly from your pay as indicated on your LES (pay stub) every pay period (2 weeks). I'm not sure if you'd be willing to have 50K tied up for 5 - 15 years.

Hope this helps with your decision!

Richard Capers Jr.

@Jayson Hinkson

Welcome to BP!!

Many people who work on Ft. Gordon move to those areas because of the school systems.  Most of the secondary schools are rated 7+.  The Middle Schools also follow this trend of being highly rated.

http://www.greatschools.org/georgia/evans/columbia...

This list doesn't even include ratings of some the newer Elementary Schools that have been built like Bakers Place Elementary.

As a result, the home prices have been nuts in the area but there are deals out here.  Cyber command has a lot of their people here already but they have plans to increase their workforce even more!!!  I hope this helps!

Richard Jr.

@Will Menard

Great Job! You property looks awesome!!!

Absolutely,  @Joel Owens!

It's one of the major problems with society today.  Many believe that if you have money to burn that you need to spend it.  They don't understand how to live below their means.

@David McCracken I would also pass on this tenant.  He seems to enjoy spending more than he makes.  I hope things work out for you!