All Forum Posts by: Frankie Woods

Welcome to BP!  You seem to have a wealth of knowledge.  I expect you to fit right in! 

I'm jealous that you are making moves in NYC. I'd like to get in on some of the action up there, but it is definitely a "high" risk, high reward area. The reason I say high risk is that the NOI in that area generally do not justify the cost of purchase. But the appreciation has been incredible. Will appreciation continue? Probably, but it certainly isn't guaranteed...especially in the short term.

Anyway, happy investing!

Hiya!  I'm guessing you are stationed at Travis?  What a great assignment!

While I was stationed at Edwards AFB down in the central valley (Palmdale/Lancaster), I ended up using the VA loan to purchase a foreclosure in 2009. Granted, I was a single Captain, I "house hacked" by getting 1-3 roommates at any one time while living there. For the 3 years I was in the house, I received about $40k in rent and essentially paid about $400/mo to live in the house when I was getting about $1250/mo in BAH. What a steal right??

It has now appreciated by about $100k, albeit, it is cash flow neutral.  Bought as a Class B property built in 2005 in Class A neighborhood and is now probably closer to Class A.  This should be a great investment property for years to come!

I wish you similiar success even though I know your situation is slightly different being in NORCAL!  Please keep us posted on what you decide to do and how it works out and be sure to keep asking those questions!

I'll definitely hit you up when I get more confident about the area.

I've got a CBR600RR and 250cc dirtbike.  Love them both!

Complexes all day!  It's all about economies of scale!

Welcome to the site!  Fellow motorcycle enthusiast myself and interested in the ATL market.  I wish you the best as you grow your business!

@Jim Viens is spot on!  Really good advice.  I would say in my experience, there are not a lot of awesome whole sellers at there.  But, they definitely exist...and if you find one, the relationship can be an absolute gold mine.  Keep up the persistence and good luck!

I agree with @Terryl D.  completely.  Leverage is one of the best aspects to real estate.  As long as you find deals that are below market value (built in equity) and have enough for emergencies (e.g., 6 months expenses), I would use every effort to acquire more high quality properties!  Regardless of what you ultimately decide, I wish you the best of luck!

Welcome to BP @Account Closed !  Fellow active duty member here (i.e., Air Force) as well!  I wish you the best of luck go forward!  You'll meet some really amazing people on this site, and the knowledge is bar none!

This seems like a smashingly good deal, especially considering you will have to put in minimal work to get it rent ready.  I am looking for a PM in north county.  Do you have one lined up already? 

I seem to remember similar issues in LA awhile back due to social unrest.  I wonder how much property is going for there now...

Great advice on this thread!  I would be upfront with the agent because you really don't want to burn any bridges if you are wanting to be a serious investor in your market.  Your head is definitely in the right place, so don't be turned off if several agents turn you down.  Eventually, you will find one where the situation would be a win-win.  Good luck!