New Member Introduction

[Matthew Boos]

Hello Bigger Pockets!  My name is Matt Boos and I am a 43 year old accredited investor from Sioux Falls, SD.  I am a passive investor in a hospital as well as retail/multi family fund.  I joined bigger pockets for the networking and information.  My goal is to continue to find passive real estate options to become financially independent as well as become more philanthropic.  Something interesting about myself is that I picked up the banjo a couple of years ago and play daily.  I look forward to becoming a member of the bigger pockets community.

[Chris Levarek]

@Matthew Boos Welcome! This is a great place to learn. Every topic under the sun regarding real estate. Sioux Falls! I spent my military career at Ellsworth AFB, near Rapid City. Was my first experience with South Dakota and the Midwest for that matter, coming from Arizona ;) 

Happy Investing!

[Julio Gonzalez]

Welcome to BiggerPockets, Matthew! This is a great place to learn and to connect with people so take advantage of all the great resources.

[Anthoney Hanks]

@Matthew Boos, welcome to the BP community! 

[Justin Windham]

@Matthew Boos

It’s nice to have you on Bigger Pockets!

Make sure you check out all that this site has to offer. You will be able to get answers to so many of your questions regarding real estate investing, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance from many of the knowledgeable members. Take advantage of the networking opportunities and best wishes to you.

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

Alerts can be really helpful too: http://www.biggerpockets.com/alerts

[Dan Guenther]

@Matthew Boos

Welcome to the community! 

Passive investing in a hospital is a very interesting strategy, I'd love to connect and learn more about that. Good luck on your networking and investing journey. 

[Dmitriy Fomichenko]

@Matthew Boos

Welcome to BP. It's a perfect place to start your real estate investing journey.

Read Beginner’s Guide to help you get started: http://www.biggerpockets.com/real-estate-investing

Good luck on everything!

[Gabriel Tapang]

Welcome! You'll love this community. Accredited investor, huh? #lifetimegoals

[Doug Spence]

@Matthew Boos Welcome to BP! This is such a fantastic real estate community - lots of people looking to help and provide value to others in any way they can. Have you looked into Gobundance? That might be up your alley as well since you're an accredited investor. 

Best of luck on your journey and let me know if I can help in any way. 

[Andrew Adam]

It is great to see you on here! I am glad you made it to the local REIA and I am sure you will gain a lot of value from both. If you ever need anything let us know.

I have never met a Banjo player, VERY COOL!

[Benjamin Aaker]

Hi @Matthew Boos and welcome to BP. Looks like you are already started investing in real estate. This group is happy to help with your future goals!

[Paul Moore]

Welcome @Matthew Boos!  If your goal is to learn more about syndication opportunities, I would check out the Biggerpockets book by Brian Burke, The Hands-Off Investor.  Good luck! 

[AJ Shepard]

Welcome to bigger pockets!  Networking is a great way to find out more about real estate investing and hopefully leads to bigger pockets so that you can be more philanthropic.  

There’s a lot of groups meeting online now as well, so check the meetups section in your area and maybe the areas you would want to invest!

[Stephanie Ro]

@Chris Levarek Thank you for your service. This is a great place to learn and I am new, too. Just out of curiosity, would you recommend investing near military bases? Surely there is a high rental market near the areas, right?

[Lara White]

@Stephanie Ro My husband is military (27 years), so we've lived near our fair share of military bases!  Right now, I live near Tinker AFB (in OKC area), and there are tons of rentals near bases for sure!  There's good and bad about rentals near bases IMO. 

Good - steady, good rents from military and their supporting civilian workers.  You don't have to worry about evicting military members as much (not always true b/c people are still people, but definitely less likely).

Bad - If a base closes, and there is not enough employment beyond the base...your rental could be in real trouble.  For larger metros (like OKC), this is less of a problem.  But if the base is out in the middle of Oklahoma (like Altus, OK or Enid, OK) and (not saying they will b/c both bases have clear missions currently) but IF they did close... there aren't a lot of jobs to replace the jobs lost from the base closure....therefore renters might leave.  So just use caution when selecting your military base, they are not all equal IMO.

[Stephanie Ro]

@Lara White Thank you for this. I really appreciate it!

[Chris Levarek]

@Stephanie Ro Thank you. We are invested in Fayetteville, NC since 2019, the market surrounding Ft. Bragg, the biggest military base in the world. In my experience, markets around bases are cashflow markets. Meaning, appreciation is lack luster and in fact, many will be C class assets with some crime and shadiness sprinkled in. However, they cashflow well because there is a consistent rental demand from civilians working on the base living off base and military working on base living off base nearby.

Additionally, the rental rate is often supported or inflated by the BAH of the military demand. Since this is a fixed rate, most landlords can align their rental rate alongside this with confidence.

Again, this a big generalization of these markets as Fayetteville, NC is it's own Tertiary market at this point and appreciation is steady. So comparing it to say Box Elder, which is next to Ellsworth AFB in South Dakota, does not measure up. 

Yet typically, cashflow is king and appreciation is secondary in the majority of military base surrounded markets with dependability on a government employer for the long term.