All Forum Posts by: Matt Musser

Ryan,

I'm not a lawyer and recommend talking to one. That being said, I would make sure the son has a special power of attorney for the house and the loan. If he doesn't then you will have to deal with the bank. Most bankers will be happy to hear you out assuming you can get a hold of a person that can help you at the bank.

Margaret,

When I lived in Little Rock, some of the smaller towns within 40 min had pretty good cash buyer opportunities. Specifically, Heber Springs and Vilonia.

I've been in the military for almost ten years now and I would recommend the Roth TSP and the investment properties. You can use your VA loan for up to a 4-plex and take those cash flows and continue to roll it into real estate while putting money in both Roth's.

I would try the 203 loan option and depending on how long it's been on the market I would offer lower. Ft. Carson has a dependable stream of renters along with the flipping possibilities with a home like this.

David,

As active duty AF I understand what you are going through. My recommendation is to use your VA loan for a 4-plex each time you move. The 4-plex will help with the cash flow and when you move you should be able to utilize an FHA loan for the next property. My guess is cash flow now is less important then cash flow once you've reached 20 years of service. If that is the case, you may want to pay the mortgage off earlier rather then later. As far as area goes, I stay around the places I have been stationed. JBLM will not close, it's too big.

I have some land also I thought about doing the same thing with. After running the numbers, it didn't make sense for me to do it. It is in a rural location and the demand is not there. I would look at your target market and see how many people are within a 1,3 and 5 mile radius along with your competition in the area.

The trick with condos and town homes is to make sure that the HOA allows you to use the properties as nightly rentals. Most resort areas I have looked at have been very upfront when asking about their policies. You also want to make sure the property will cash flow with the sometimes high HOA fees.

Alex,

I currently live in the UK and think you are getting out of the London market at the right time. If you want to 1031 to another property in England I would recommend Cambridge or Bury St Edmunds. Cambridge has a great 100 year city plan. Both are very popular places for US military members to rent and usually stay for 2-3 years. The cash flows are terrific.

Matt

David,

Thanks for setting this up! Unfortunately, I will be out of town for this one but I look forward to the next one.