Home Selling in 92154>Question Details

cervantj, Home Buyer in Lindenhurst, NY

Relocating due to military, owned the house a lil over 2 years and I used my VA loan. I wont have the time to deal with being a land lord.

Asked by cervantj, Lindenhurst, NY Sat May 25, 2013

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19
I agree, since you are only allowed to have one VA loan at any time and housing in Southern California is so expensive you may want to reserve your VA zero down capability. However, if you can refi into a conventional loan, regardless if you can sell if for a profit, being a landlord is not that hard, especially when the rent covers all of your costs and you hire a manager.

Think about a long term real estate investment strategy. I have several clients in the military and they buy a house every time they are transferred. One gentleman I work for will be retiring from the Navy in 18 months. He owns 5 homes and after 20 years of having someone else pay his house payment he will have a nice cash flow on each property in addition to his military retirement income.

Think of every home you purchase as an investment. Don't just buy to buy. Have a purpose and a goal and you will be better off for it in the end.

J.R. Thrasher
San Diego Real Estate Veterans
619-929-0105
http://www.SanDiegoRealEstateVeterans.com
0 votes Thank Flag Link Thu Jun 27, 2013
I just realized your home is here. Same info applies. Cut it loose, grab the cash, and free up your VA loan. Or hire a manager and leave town knowing it's being handled. Refinance your VA loan off the rental home and use it for an owner occ purchase wherever you end up relocating to.

Dave Liesch, Realtor
619-750-6626
http://www.LieschRealtyGroup.com
0 votes Thank Flag Link Wed May 29, 2013
I assume you are relocating to San Diego, CA. If that's the case, and you don't want to be a landlord in NY... then either sell (if you have equity) or keep it and hire a property manager to deal with the tenants and toilets. Your choice. It's a great time to by in San Dog, and the VA loan is the best out there. Hit me back on email if you need a buyer's agent here. I'm a VET myself and a lot of my clients are VA buyers and sellers. Thx.
0 votes Thank Flag Link Wed May 29, 2013
If you can sell with a profit, then totally the right thing to do. Investment properties are great for a lot of people, but not good for long-distance situations or anyone who isn't "up for it" :)

If you'd like an Agent referral in your area, say the word.

- Mr Credit
Web Reference: http://www.MrCredit.org
0 votes Thank Flag Link Mon May 27, 2013
hi Cervantj,

92154 is part of my district as I ran for State Senate earlier in the year. My office is in the next zip code and only 10 minutes away from your home. I would love to help you sell your home and get you the best price. Just like you defend us, our values and principles around the world, it is my job to defend your equity and get the most from your valued investment. You bought at the right time and now you are selling at the right time. Lets make it happen!

Hector R. Gastelum
Realty Executives Dillon
REALTOR #01382940
2240 Otay Lakes Rd.
Chula Vista, Ca 91915
hectorgastelum@yahoo.com
619-954-2225
efax 619-270-2516
0 votes Thank Flag Link Mon May 27, 2013
My son is USMC Sargent returning from deployment 7/15/13. He is interested in renting in this area as soon as possible, 12 month lease. Very responsible, law school student. If interested in renting to him he would be able to manage it for you as well, if that helps. Possible rent to buy? He has a real estate experience. You can reach me at tescelfo@yahoo.com or 412 638-5366. Thanks for helping a fellow veteran. Terry
0 votes Thank Flag Link Sun May 26, 2013
Cervantj,

Don't Bother MANAGING Your Own Property -- But Don't Sell It. Rent It. There are many military families that will rent your home and their BAH will cover it. Make sure your monthly rent covers your mortgage, the cost of a property manager, basic repair savings, and some profit for you.

Hurry up and find a Property Manager (I recommend licensed professional). The monthly commission may be 8% to 12% of what they collect a month but its well worth it to not be bothered with the headache. Your profit they will put into an account for you. Have them produce flyers for you to place in the housing department.

DO NOT PAY THEM a full months rent to find you a tenant. Pay half because you are helping them find a qualified tenant. If they require that you pay the full months rent after the tenant is found still pay half and let them know the rest will be paid after the tenant has been in the property for 6 month. If they are going to charge you for finding the tenant they need to guaranty the tenant is going to be there for a specific amount of time.

If your monthy rent will only cover your monthly mortgage, property manager cost, and repair savings with no profit to you sill do it bucause your tenants are buying your house for you.

Enjoy your military career and keep yourself and your family safe.

Respectfully,

Gordon Parker, Realtor
McColly Real Estate
Marine Veteran

Contact me if you need me.
219-712-5885
gtparker@mccolly.com
0 votes Thank Flag Link Sat May 25, 2013
Hi there,

Property values have spiked over the last several months, so you likely have enough equity to sell and cover the fees. Depending on your location, you might even walk away with some, or more than some!

Agent commissions are negotiable, but some agents still like to use sales score tactics. My favorite is, agents that don't change 3% are doing their sellers a disservice. Many agents will offer all the same marketing a 3% agent offers and more. Plus, in this market, you'll get multiple offers. And, the goal is to walk away with as much money as you can. While we have to make a living, the agent you choose should have the flexibility to charge whatever they want, and NEVER pressure you into a higher amount.

One unfortunate trend I'm seeing in this market, is listing agents trying to bring their own buyer, so they can get double the commission. Some go as for as not submitting buyer offers to the seller, or not returning the buyer's agent's phone calls or emails for showings. They'll try to talk sellers out of submitting listings into the MLS, or doing one open house,or even suggesting no showings, because they can get offers without them. Their brokers often pay them to keep both sides of the sale in-house, so they too can get paid double. Have buyer's agents call you directly for showings and even have them email their offers to you directly. I've seen these behaviors over and over, and it's escalating. Until sellers get wise to them, they'll be accepting lower offers and losing money unknowingly. Agents are salespeople who can be very persuasive.

If you have a lot of equity and can stand to lose some, none of this will matter much. It's a seller's market, and you deserve to see ALL of the offers written on your home!

The selling process is really just a series of steps, each of which your agent should prepare you for and walk you through. I can even prepare a seller's net sheet so you can see up front what the general numbers will be.

I'm happy to help in any way.

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
619-825-6421
Lic # 01443391
0 votes Thank Flag Link Sat May 25, 2013
Understand. Whether you are interested in leasing, selling and buying, I professionally assist VA and/or CALVET sellers, landlords & buyers in multiple states accomplish their relo goals in record time!! For honest, assertive, timely service, please call/text Maureen Byers GRI at 760 622 6855 http://www.coastal.biz
YOU CAN BENEFIT FROM MY 40 YEARS VA EXPERIENCE TODAY!!
0 votes Thank Flag Link Sat May 25, 2013
Hi
I will be more than happy to help. Please contact me.

Manju Gupta
858-947/-8490
0 votes Thank Flag Link Sat May 25, 2013
Please email me at
claudia@fitproperties.com
or call me
858-401-9095
I have a few options for your situation.
Good luck with the relocation!
0 votes Thank Flag Link Sat May 25, 2013
Good Morning ! We can help you with your property give me a call our team is available 24/7 858-353-3947 Josh Vargas real estate pro
0 votes Thank Flag Link Sat May 25, 2013
Good Morning, I'd be happy to help you sell your home, please contact me directly at 858-229-5434.

Fay Yates
HomeSmart Realty West
fayyates@gmail.com
CA DRE#00853913
0 votes Thank Flag Link Sat May 25, 2013
Hi, looks like you have lots of good advice. It sounds like you need to sell the home and then re-apply eventually to get your VA Buyers Benefit reinstated based on a military relocation .

Thanks for your service!

Frederick Remick
TOP PRO
Keller Williams Real Estate
619-519-3287
0 votes Thank Flag Link Sat May 25, 2013
It is now a Sellers Market! Hopefully you have gained a little equity and if not there are options for veterans in your situation where you may be able to sell with no out of pocket costs. I'd love to help you and make this as easy and stress free so that you can move on. Thanks for serving our country!

Chris Gorno
Windermere Real Estate SoCAL
(619)788-4345
http://www.ChrisGorno.com
#DRE 01499885
0 votes Thank Flag Link Sat May 25, 2013
It sounds like you have a lot of help down there:
If possible, I like working with Verterans.
You should know that you can apply for reinstatement of your benefits due to relocation: When you are settled, and know what's happening, talk to your local VA office.
And thanks for serving!
0 votes Thank Flag Link Sat May 25, 2013
Good Morning,

Please contact me at 619-565-3604 or http://www.militaryhomesinsandiego.com to schedule an appointment. I would love for the opportunity to assist you as I am a Navy guy myself, and most of my clients are military. I'm available anytime, so feel free to contact me at your earliest convenience. Thank you for your time and I look forward to hearing from you soon!

Rashard Scott
RBD Residential
619-565-3604

scottie1421@gmail.com
http://www.militaryhomesinsandiego.com

CA DRE# 01703306
0 votes Thank Flag Link Sat May 25, 2013
I am very skilled at helping you sell your San Diego property while you are away. Happy to help. Give me a call and I will help you sort it all out.

Patti Adams
619-887-9313
Cadre#01229068
0 votes Thank Flag Link Sat May 25, 2013
I am very skilled at helping you sell your San Diego property while you are away. Happy to help. Give me a call and I will help you sort it all out.

Patti Adams
619-887-9313
Cadre#01229068
0 votes Thank Flag Link Sat May 25, 2013
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