ADPI_013: How The Buy A Property On TAD/TDY Orders

Aug 02, 2018

Episode Transcription:

Hey! Hey! what's going on guys happy Friday. Alright so today's episode is gonna be interesting I want to share a little story with you on how I was able to acquire property while on temporary assigned duty. It's gonna be very interesting and I'm going to prove to you that it can be done no matter how short your time is. Alright but first... 

Hey! Hey! Freedom Fighters welcome to the Active Duty Passive Income Podcast the only place where military members, veterans, and their families learn how to build wealth to real estate investing. I'm your host Mike Foster and I'm here to show you how to stop wasting your benefits. Now get off your ass, step up to the firing line and make ready for today’s lesson.

Shooters standby!

Alright! Alright! Alright! What’s going on guys welcome to the Active Duty Passive Income Podcast this is the place where we show you right military members, veterans and your families. We show you how to invest in real estate and build wealth, alright to build passive income it’s gonna be great and this episode we’re going to talk specifically about what happens when you get sent to a new location right, as the temporarily assigned duty or whatever right. Can you still invest in real estate while you're out there. Absolutely! and I'm gonna show you how okay?

Now this is a personal story, this is how I was able to do it and of course there are many ways of doing it this is just one of particularly I’m going to talk to you about but i'm afraid to tell the best stories that are personal alright so that’s exactly I’m gonna do here and hopefully you get some value out of it and if you have any questions about anything please let me know. So let’s start it out I was transferring from my last command to my current command. I was hidden from the ship we are actually underway for good bit of my last few months on board.

But you know little bit in between the other ways in a little bit on you know while I was having a sitting around I’m not doing much. I was able to do a little research on the area that I was going to get the orders to you right. As a course that down in gulf-port Mississippi and that course was about a month long or almost.

So I said to myself you know how crazy would it be if I went down to this area and found the property you know and this was literally something I got and just told myself like (haha) alright I mean I’m gonna be there 21 days and now I wouldn't it make sense but you know whatever but it's funny how you know you say things and the thought going to stick with you. You know I have know of you guys over that had happened to you but it was definitely kind of haunting me I mean not haunting in the sense that it was a bad thing but you know’s on my mind for a little bit and I even ended up joking about it with a buddy of mine who I was talking to about real estate at the time and it was weird. It was weird that’s gonna stuck on my mind so I thought to myself OK well if I was going to do it right how would I do it.

And from there it ensued it to me researching lenders in the area new researching some of the properties in the area when I saw the loan I saw the prices for the properties out there I was immediately captured I mean I was saying properties anywhere from like 40,000 to like 60, 70,000 some cases and it was that perfect Midwest type market that I was still looking for looking to invest in. So,once I saw that, that really mean to me was like a clear indicator that I should definitely consider this a lot more than I'm doing.

So I started looking into a realtors and a real estate agencies in the area is just kind to see what you know they were kind offering I knew that if I was gonna to do this I was not going to be able to do this alone. As you need a teammate of some sort and preferably someone with a little more experience of the area then a maybe an instructor or here some people that work out there. So I went you know and I hit the website, google pretty hard and do it some research I take a look at the area of gulfport. I take a look at those of the population in the areas of some hide documents.

Seeing some of the growth in the areas it's hurricane Katrina obviously that was a huge huge factor of mine. There were, I’m sorry there are still some places in the gulfport area there still recovering. However gulfport seems to have recovered a little bit and it's interesting because you know their area got hit in a pretty bad and so you think for a place that I mean this was 2005 right so we're talking 13 years now it's been a little bit but you know you would think still I mean, in the devastation that went through that hole gulf area.

Some of these places wouldn't be I don’t know wouldn't be in some in the condition that I found when I got there. Let just say I was very surprised as you go for what I find out there. So long story short I mean it was interesting you know doing some research in finding a few people to get in contact with. I contact like 2 or 3, 4 I think realtors in the area and I spoke two couple of them but I will get a warm fuzzy and the other to that I spoke to.

One of them was really good so I’m going to maintain come with him and set up a meeting and I also took a look at some of the property inspectors and contractors and I had and have a meeting with one of those guys when I got there too. And easy and pretty cool unfortunately I didn't really want to do a flip I did not do a flip just because you have not done one and I knew that that was not the time to get doing it. My focus was gonna to be in a learning everything that I could from that school and set myself upgrade from my next command which was in a what I did and then if I was able to get a property I want to be something that down before single-family nice and easy you know something that I would not require too much work from me outside of the time of I was already spending after class.

So it was great I did a little bit like work right before I got there and then when I got there  like I said I was able to have a few meetings. But ironically, the meetings that I had and the people that I met I did not do business with any of them. It was actually wasn't until second week and a half and I was able to find a realtor of craigslist. I actually really I found a property I want to take a look at off of craigslist and the realtor who was the manager. A realtor who was the selling agent or the listing agent for that property reached out to me. She contacted with me she contact with me and I met up with her she showed me 3 or 4 properties that one day I will know what I was looking at and it was awesome. Immediately it hit off I mean, let me tell you out there some good people in this world and you have that connection when you see it or when you feel it and this was, it was one of them and you know it it's interesting again because realtors coming in their mess right. They get some really good ones they get some really bad ones out there.

She was awesome right, her name is Melissa Holder definitely plug, for I gave her one when I share the story on Facebook and I'm going to give it to her here again because she's awesome. And yeah told me hook me up right. So, she showed me a few of the properties, she gave me here opinion. She has lived in this area in her entire life so she have seen it and it's best she has seen its worst. It is really, really good. So she give me a lot of sound advise. As we were looking at the last property, there was a single family, 3 bedroom and 2 bath just outside of the base which is ironic too. She told me that it was under contract at the time, but it had been in the market for a little bit and men, this deal was awesome, let me tell you. They sell it for 55,000. The house was recently renovated I mean, I guess it didn't for a lot couple years right.

The property value of the home in considering the area was like in the eighty thousands. So I was really surprise that's why they only sell it for only so low and of being older lady, I think she had the property like in entire life. But for whatever reason, it is on the market for a while and I think it was just because some of the people that were trying to get the home themselves to live in. They just couldn't get financing for a loan. I ask about that I know it's kind of a sidebar but i ask about that like is that account probably area and Melissa said yes. She was like yeah, for some reason there a lot of people they try buying a home out here that just can't get financing because the credit just not good enough and that's kind of sad. It's really sad to me to get hard workers, blue collar, you just try to make a living trying to have a home but can't find a loan that will give them what they need to afford the house and tried to buy the house.

Hey, did you know what that is good for? It's good for those who are investing in real estate and so that are a perfect opportunity. So, I picked up on a contract that is about, I want to say a week before I had live so obviously there's a lot of that process that you carry on through me being home. But and once I got on the contract to that point it was smooth sailing so I got financing for it and I'm getting the inspection. Get him started because this was him and his wife first deal so that was pretty fun and there was a win-win for all of us because we didn't know when it half-half and it was really cheap and we pick it up pretty good quick at it all happened because I ask myself that question wouldn't be crazy if I got a property while i was out there.

So I'm just going to go ahead and say, positive affirmations definitely work. 100% {12:13}that... of it and honestly you know the more you look, the more you do you research your homework and you find stuff that the more the universe a kind bend to helping you out. It is possible this stuff is very possible out there and I am I strongly recommend that you guys take advantage of the areas that the military send you. I mean you don't even go to areas where you're leaving all the time you can just go there to stay never training or for some kind of event or whatever but take a look at the area now that you're starting to get into this investing mindset right by your side to build wealth you were looking for opportunities really it's that, is that commitment to providing opportunities making the best out of them that makes you successful in the entrepreneur or investing game. You have to be able to open up your mind to be possibility of what if, what if i go to San Diego for a conference and i need someone who is that have an investor in the area and once a partner put me on a deal.

What if I end up going you now, on deployment {13:34} somewhere and I end up finding a an investment in that country that I want to invest in. I honestly the sky's the limit guys and you have to be {13:44} you to the open up yourself to that possibility and order for you to truly optimize your potential in this game. But yeah I mean, the opportunities are lessen and everything is possible if you're willing to put the time the effort in the commitment to making it work.

So, again thank you so much that was little short story, I'm kinda going to end it there. There are a little more specifics behind it if you want it any actually want to tell you were born details reach out to me I'll gladly share with you and if i'll share with you the area that i invested into gulfport Mississippi is awesome. Again short plug for Melissa Holder she is an awesome military out there and if you're interested in finding good low cost property with high returns then definitely reach out to her. She'll  definitely help you out. Oh yeah right so high return and don't even talk about the important thing about it.

So I mention the property was 55,000 I was hoping in that buy it for a mortgage with a 10-year I want it 10 year with this one . But the 10 mortgage my mortgages about by 440 something a month and I rent out for 900. so as you can see right those numbers are great and then even still with my 10 year mortgage I'm still cash loan pretty nice {15:08} which is great. And all that money is going into the home paid off faster and that I can leverage the equity that I have into another property so i'm excited. I actually just got another property under contract in that area so Mississippi and especially gulf region is definitely good place to look for, and also if you're looking for some I highly recommended and also like I said I highly recommend reaching out to you Melissa Holder I'll put her contact information on the show notes so you can reach out her.

And then yeah alright [Music] that's gonna do it here thanks again so much for listening you guys are awesome I hope you guys enjoy that story and please go out there and take some action guys. It is possible and we here in ADPI we're going to show you how it's done yeah man the skies are the limit. Anyway, think that of course,{16:01} contact to us on Facebook, contact us on our Instagram reach out and we want to hear from you. And if you guys have any cool crazy deals we've done whether an appointment or Team Live or whatever let us know we want to hear about it. how you how {16:22} eager of a portfolio of turn key properties. Guys, this is going to be you want you don't want to miss. For all this you are just getting started out there you definitely want to hear this and get little insights to how you did what we did and how you get started. I can't wait Mike Foster out I'll see you later.


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