All Forum Posts by: Sean G.

Hey Man!

I'm looking for places in Meridian and hoping to learn the area a little more about buying and renting in general. If you've had any experience in the area, I'd appreciate it if you could explain the general reasoning behind your decision making in terms of identifying and acquiring successful properties. I'm still new, so I don't have much to give you in return, but I'm willing to connect in case I can help possibly help out at some point.

Thanks!

@Carolina E. Thanks for the reply. Rental Details: 80k 4bd 2 ba House, 1950 income with 3/4 rooms occupied, 700 expenses, so 15k/yr CF with only ~5k closing costs/cash out of pocket. Any other factors I'm overlooking that I should include in the decision making?

And for the VA loan, I was planning on living in the house for a year or a little more until the entitlement would pay off so I think I should still be able to use it, even when I eventually move for work. I'd live in the 4th room and rent the other 3.

Doing the math for my first rental, but I'm just too ignorant on real estate to know if its worth it or not.

https://www.biggerpockets.com/...

Military base nearby and located on a community lake where vast majority off base workers like to live. But the rest of the town is fairly depressed economically.

Might use VA loan to get the 0% down. For the analysis, most of the expenses were a little more than I expect and rent is in the mid range I would like to get assuming three of the four rooms are occupied at $650. And I don't know how much closing costs are so I guessed 5k.

Any possible red flags I should worry about?