All Forum Posts by: Ben Biggs

@Bill S. Thanks for the reply, 

It's looking like I will start an LLC for AR. Thanks for the tip.

Everything I've read (no actual experience), says that you need to start an LLC or some form of entity when investing in Real Estate, if you're serious. I plan to build a stronger and stronger presence in that market as time goes on, so it makes sense to me, to just start the LLC now so I can start building a name for the company, seeing as I won't be physically there very much.

I have had several loans with my CU; I just paid off my car loan in full and one year early last month. But I'll have to just ask about the business loans...

I will be paying my Father well for his services, I only want to do well by the people I work with, especially family. 

Thanks again

Hey BP, 

I have a unique situation I need a little help with, 

I'm living in Japan right now, and will be until May 2016. I'm moving back to Fort Collins, CO when I return to the U.S. to attend Colorado State University.

My goal is to acquire 5 single/multi family homes as rentals in and around Conway, AR, while I'm still in Japan. The reason for doing this is because my father lives near Conway, and it is the closest population draw near him. He has agreed to manage the properties for me. He has detailed knowledge of home construction, has a background in real estate, and I believe he will be good at it. 

I'm getting ready to start my LLC using LegalZoom right now, just so I have an entity to go to banks with, I plan on using my Credit Union for financing, which I have been using for four years and have a great relationship with, or potentially going to local portfolio lenders in Conway.

Ok, here's the question: does anyone have experience using an LLC to buy properties in several states, and/or putting deals together long distance?

My criteria: Single family/Multi Family in move in Condition under $100,000 in Conway proper or within 30 minute drive. 

This is going to be my first deal, and It's going to be difficult to manage, but I believe i will be better off if I push through and make some deals now. My eventual goal is to buy up enough cash flowing singles and multi's to provide collateral for large commercial units. Once I return to the U.S. I will begin investing in CO and will either continue to use my Father (who is retired)  as the manager or hire it out, and fly back a couple times a year. 

Cheers, 

Ben

@Elizabeth Colegrove 

Thanks for the welcome, and the information. 

I'm pretty much interested in all of the things you talk about in your blog, will be stopping by for sure. 

My main focus is commercial properties over 10 units, so as I'm learning about that I'll be asking questions and running around the forums. See you around!

@Paul Timmins Thanks very much for the helpful response! 

Student Housing is definitely high on the list of potentials, will be investigating. 

Thanks for the education references, the Start Page is great, first time seeing that. 

I have all of the books you mentioned, they are sitting in my computer waiting to be read. Brandon Turner's new book, "The book on investing in real estate with no (or low) money down" is in the mail. 

I'm listening to the podcasts one by one, I'm on #32

Sadly there is no REIA here in Sasebo, Japan.

Chapter 10 "Real estate rewind starting over" that sounds great, will be adding that to the funnel. 

Thanks again

Ben

I've heard that...I wonder how the numbers change up for commercial (30+ unit apartments), from what I've read, they run off of performance not market value. Makes more sense, to me, to buy commercial properties based on performance in a market where single and multifamily are based on comps. Thanks for the reply btw. 

@Mark Ferguson Thanks for the reply, I'd be interested to see the market comps between Greeley and FoCo, seeing as they both have large Universities. 

Awesome, thanks for the post. I'm new as well, currently active duty. 

Best of luck and see you out there!

Good Evening from Japan, 

I'm currently active duty Navy, stationed in Sasebo, Japan. The reason why I say i'm from Fort Collins is because that's where I'll be heading back to when I leave the Navy in May, 2016. Looking forward to meeting FoCo area people here on BP :) (and anyone else of course). 

A short Bio, 

Born in GA but I call Denver, CO my home town. 

I'm 26 years old, I began in business when I moved to Denver in 2007 and started my first company. I owned several companies and worked for a few start-ups until 2009 when I moved to Shambhala Mountain Center to pursue my interest in Meditation and my love of the Rocky Mountains. I also filled their position of IT technician until my decision to join the military in 2010 to get some life experience and save up some capital.

I'm getting towards the end of my enlistment and am looking forward to getting back to business, and Real Estate is my chosen vehicle. 

How i Found Bigger Pockets, 

I have two friends who are also passionate about business and Real Estate and they showed me the site, a great find!

My Real Estate Goals, 

I go ALL IN or I don't go. This is my dedicated field of study and I'm not stopping until I become successful enough to pursue something else. 

1. $10,000 a month in income by 2020

2. $100,000 a month in income by 2025

I plan to achieve these numbers by way of acquiring as many doors as I possibly can by any (legitimate, of course) means necessary, in a financially safe and responsible way. 

I love talking about Real Estate and my main goal in this community is to become a genuine contributor.

Cheers, 

Ben Biggs