All Forum Posts by: Ben Volk

Here is a quote I found in another thread from Chris Martin: 

"Every state has processes relating to defaults on mortgages. Each state is different, and that's why there are few (national) books on the specifics of 'foreclosure investing'. The best resource I can suggest is a local resource. In my case, I've posted my views that the best in-depth resources are local community colleges and/or law classes geared specifically to your state statute. REOs, in contrast, are completely different animals.

http://www.biggerpockets.com/forums/41/topics/80531-learn-and-work-on-trustee-sales-in-raleigh-nc

http://www.biggerpockets.com/forums/52/topics/65118-purchased-foreclosure-home-with-occupants"

@Ali Boone Santa Barbara haha, it seems like that's a very tough area to invest in.

@Elizabeth Colegrove thanks! It's good to see other military pilots and especially their families having successes despite the challenges of the job, good for you guys :D I've actually been to your website already and I'm sure I will be back many more times. I hope to someday have the skill to handle REI half as well as you guys have, especially in the circumstances.

@Tyler Flagg thanks sir! I can't say I envy my friends at Vance, even for the weather. I can deal with corn in one, maybe two directions, but corn in all four directions is insane. How are you liking AFSOC? I'm very much split between attempting to track hueys or -38s. What I keep hearing from people is regret from not starting sooner and by the time I graduate I'll be 25, so I would very much like to figure out how to work the impossible. Honestly, the options we are considering are 1. owner occupied, so no down payment and management is much easier or 2. an almost turnkey rental property that we can add a little value to and just hand to a property management company. Maybe my bud will chime in soon, but I believe he will have more time as he has already completed contact through formation in the T-6 and doesn't plan on T-38s.

@Dave Visaya and @Sean T. cheers!

@Paul Timmins  engineering was definitely a let down as far as entry level positions went, nothing like being a speadsheet and coffee jockey! Luckily I was indentured to the Air Force so I didn't have to go down that road :D  I don't know whether I'm more jealous or in awe of your bravery for investing in that area... how do you do it?

Columbus, MS

@Paul Timmins thanks for the advice! I have read all of those and they were invaluable. 

The major problem that we're running into mentally is that Columbus' population is in very slow decline (less than a tenth of a percent per year). We still have a great school here (Mississippi Women's University) and obviously the base provides much of the business for the surrounding area and neither one of those are going anywhere. We're trying to formulate a strategy for our specific situation so my question is would it be good to start a start a separate thread to discuss our strategy options?

@Brandon Turner and @James Wise thanks!

Hello from paradise! 

I've recently escaped from an engineering school in Florida to the warm embrace of the real south to pursue a career in "not crashing million dollar government owned aircraft." Recently, a good friend introduced me to the Rich Dad, Poor Dad series and long story short, I inhaled it. I was already considering real estate investing on a small scale, similar to what a lot of Air Force type characters do, by living in a house and renting the remaining rooms. 

However, my strategy shifted significantly after being exposed to both the Rich Dad series and this website. I absolutely love free education and have not surprisingly spent about 60 hours in the last two weeks on this site and other investing sites in an attempt to get a grip on this challenging game as quickly as possible. 

As of right now, my previously mentioned friend and I have entered into a blood pact / partnership / cosa nostra type agreement that we will combine our meager government sponsored resources and intelligence into a REI venture. This will, of course, be in writing when it counts. We are actively seeking any way to gain knowledge, contacts, and mentors (this is not a request, just a statement) but we are marginally intelligent and understand that there is no such thing as a free lunch. Our long term goals are to be financially independent by our late forties / early fifties. As far as the road to get there, that's still under construction.

We'd love to connect with anyone in the area, even if just to talk, since our social circle is limited mostly to the base at this point. That being said, a huge thank you to everyone that contributes to this awesome resource!