All Forum Posts by: Bryce Ewing

I have a pretty busy schedule on Mondays, I will try to make it. 

Hello,

My name is Bryce and I am a Sophomore at the University of Nebraska-Lincoln. We have a very good rental property community, but most of the opportunities are low to low/moderate income areas. I work as a Part time Property Manager here in Lincoln of about 184 units (Single and multi-family units). I am starting to look at deals, and although my boss is a very knowledgable investor, he is far too busy to field all of my questions. I am looking for a mentor/friend to help me go through deals, and to spitball ideas off of. I have enough financing to buy a "Pig" and put 10-15k in repairs in it. 

I am basically looking for a friend to talk about my areas real estate too, as well as someone to help me get into my first deal in the correct manor. 

Hello,  

My name is Bryce Ewing, and I am a sophomore at the University of Nebraska. You can read my bio for more information on my experience and personal life. I am reaching out to investors in Lincoln, to have a support group and possibly spit ball on ideas, areas, and deals. 

Basically friends to help each other out.

Thanks,

Bryce Ewing

Thank you guys for the replies!

@Jessica MonroeThat is awesome! I would love to house hack a duplex this next fall, I am currently keeping my eyes open. Do you think the building of all these new apartment complexes (Latitude, Aspen, 50/50) around the campus will affect things?

Welcome! I am in the same sort of situation, yet I am looking to find my first deal. We should talk sometime!

Wow thats crazy to meet someone in Lincoln.. The properties my boss owns are all over town. 

I wouldn't mind buying a pig and putting enough money into it to make it a nice place to live. I do not want to be a slumlord of some bad properties. I just know that the most money is made by buying distressed properties. 

Wow great reply! What about my income? I make roughly 1,100 a month with my internship. That is very low to consider a mortgage 

Hello, and my name is Bryce and I just turned 20. I live In Lincoln Nebraska (modest priced midwest real estate for the most part). I have an internship as a property manager of 184 properties, and I have learned SO MUCH about land lording in the past few months. The properties I mainly take care of are below average in condition, and the owner bought them as "Pigs" and put a little money into them and rents them out. 

I have been itching to invest in real estate since I was 18. I have read heavily on the subject, and I believe I know much more about evaluating a deal before buying it than a few other people did from the podcast stories I've heard. I have roughly $25,000 to my name from saving while I worked as a kid, and also my college fund no longer needed because of my scholarships. 

What is holding me back (give me feedback if you can help):

1. Am I too young to be taken seriously by a bank? Even with a 20-25% downpayment

2. Is buying a pig and putting some money into it too dangerous in a "college town"

3. How difficult is it to refinance? I will need to pull my money back out if I want to continue

4. I still am not an expert on the loan process, as well as hiring contractors, inspectors etc.. (the contractors that work for my boss are probably too busy to pick up extra work)

5. Isn't the market at a peak? I have read a lot about another dip, as the stocks have been leading just like last time (Yes I know our loan situation is better than 2007)

Thank you guys so much! Any feedback is a huge help. 

Wow thats awesome that you have been able to profit so much after making those mistakes. I can only imagine how much you will make once you start cutting costs and mistakes out of the equation.