All Forum Posts by: Benjamin Thompson

Hello! 

I need help structuring a deal to prospective investors because like most just starting out, I need help funding it. What would be a good deal for an investor that gets me what I want as well?  Here are the basics.

Full disclosure: my business partner currently works in the industry we are targeting.

We have an idea to target a specific group of maintenance workers who regularly travel to several different locations around the country for 3-12 months of the year. The maintainers are given a monthly per-diem rate and are required to secure their food and living arrangements from this pay. Typically, the maintainers are staying in hotels where they are spending anywhere from $1,400-1,800 per month on a basic hotel room. Most of the hotels they stay in don’t offer more than a continental breakfast, if anything at all.

After their tour is complete, the company sends a maintainer to replace them forming a constant stream of workers out in the field. Between the two or three contract companies, there are roughly 20-30 maintainers in a given area, depending on work requirements, but rarely are there less than 10. We have already contacted a travel manager for one company to advertise directly to the maintainers. Unfortunately, because of tax structures and current per-diem take home for the maintainers, we cannot make a deal directly with the company, we will have to advertise to the maintainers. That being said, we have already made arrangements to fill all of the bedrooms upon signing.

We want to buy a house with at least 4 bedrooms, preferably 5 or more, and rent each room. We would pay for utilities and amenities (TV/internet) and maintenance costs, such as yard maintenance. We would have to fully furnish the house as well.

We have specifically targeted an area my business partner is currently operating in. I have been talking with a real estate agent about this deal, in brief at least. There are a few minor things to work out. My business partner will be the property management for the time he is located in the area, roughly 6-12 months, from there we need to secure a property manager, grounds keeper; we need to draw up contracts and run it by lawyers in the area; and we need to specifically decide on payment methods. I’m sure there are other things I’m forgetting at the moment.

We have some cash on hand and a soft offer from an investor, though it won’t be enough to purchase the house, it will cover furniture, lawyers, inspections, and other initial setup costs.

@Account Closed, thanks!  I'll look into that more.  Cheers!

@Robin Searle Thanks for the response!  We'll chat, cheers!

@Tanner Crawley, thanks!  I sent you a message.  

Hello, I'm currently stationed in the UK but will be moving back to the States next year.  Most likely, I'll be moving to the Colorado Springs area  I'm looking to do some homework on purchasing a mutlifamily complex, such as du/tri/quad-plexes.  I am looking to do the "house hacking" thing, so preferably the more units the better, but, at this point, I'm not too picky.  Not yet anyway.  Where are good places to look.  I've been looking on the big common sites like Century 21 and Zillow, but I'm only finding individual units in Townhouses and such.  Any advise would be appreciated.  Cheers!

Hello!  

My name is Benjamin, I'm currently serving in the US Air Force stationed in the United Kingdom.  I'm set to return to the States in about 18 months.  I've had an interest in real estate investing for a long time.  I was put off by some perceptions (misconceptions?) and some fear of the unknown from my spouse.  I was also heavily deployed, for long periods of time (30 months deployed in the first 48 months of service), making me feel that I wouldn't be able to manage property investments while gone.  I've now decided that I should have gotten started years ago, but better late than never, I suppose.  

As mentioned, I'm married and have been for nearly 16 years.  I have two kids, a dog, and a cat.  I have hobbies, but they seem to change on a monthly basis, I've been told my biggest hobby seems to be school.  I completed my Bachelors in Criminal Justice in about 2.5 years while deployed to Iraq and Afghanistan all while having a new born.  I then finished my Master's Degree in Forensic Psychology in about 18 months.  Having only been out of school for about 6 months I've thought about going back for my MBA.  I'm not sure I'll be doing that, I haven't seen a real value in it yet.

I am a new subscriber to the Bigger Pockets podcast but my first exposure to real estate investing podcasts was the Old Dawgs REI podcast. I found Old Dawgs by doing some research into real estate investing. I don't really have any experience with real estate investing, though I really want to get involved.

One of the the Old Dawgs REI podcast episodes, then later echoed in the Bigger Pockets podcast this past week, talked about a statement that Simon Sinek has, more or less, developed his entire leadership strategy on, which was "know your 'why?'" I guess for a long time I didn't really know my "why?" but I've recently come to know my "why?" I have two, one that is selfish, and one only slightly more selfish. Firstly, it has been a lifelong dream of mine to be able to be able to afford a Lamborghini. The second, is that I want to build a non-profit business dedicated to the housing and rehabilitation of homeless veterans. I call this my most selfish reason, not because I have ever been homeless, and not because I personally know any homeless veterans, but because I don't. Because I have served, giving blood sweat, and tears with some of our nations finest men and women, and have a great love for them. They are my brothers and sisters, and many are suffering. I have ideas similar to what is already being done in several states, things like "tiny house" villages in urban environments, to farm/ranches. Both ideas are intended to help veterans get the physical, mental, and emotional support they need to help them return to civilian life as happy and productive contributing member of society. It pains me when I see veterans suffer and I can't help.

I am very much in my research phase of how to get started.  I love learning new things, so this is an opportunity for me to learn.  I'm here to learn how all of you have been successful and even unsuccessful.  Thanks for having me! 

Cheers!