All Forum Posts by: Christopher Labonte

@Derrick Powell How long have you been investing up in Evansville for?

Hey there @James Hatfield! 

Welcome welcome.  My names Chris.  I'm down in southern KY at Fort Campbell, but I have a property under contract up there.  I'm still pretty new to this too, and I'm always looking for new friends.  Good luck on the switch!

That’s the question I suppose

Hey Derrick,

Thanks for the tip.  As much as I agree with you, the reason I posted the question is because even though the numbers work (even at the asking price), I just cant shake the feeling that I don't want to leave any money on the table.  I'm not necessarily worried about offending anyone (its just business) but I also don't wanna loose out on a deal.  I'm doing it to myself, I think.  I wanna say its approaching analysis paralysis 

Hey there all!

I'm a new investor, and have been looking at properties in and around Nashville TN for about 3 months.  The market seems to be quite hot, and I cant even get a property for the asking price.  Too many investors and not enough properties.  I will continue to try, however and opportunity has presented itself in Evansville IN.  

I'm not planning on managing it, purely for passive income.  I have some questions that maybe the BP community can help me with.

Im familiar with the Nashville area market (enough to invest semi confidently).  The Evansville market I haven't started looking into until a few days ago.  Population growth is flat, as well as income.  Average income is about 50k which isn't terrible.  My issue/question/problem (hopefully from that market will see this) I have no clue what to offer.  The listing agent as well as the property manager both say its high, but also say its renovated (t-minus 0 years aka brand new).  The market has been so flat for so long barley any properties have been changing hands so there is nothing I can compare it with.  Does anyone have suggestions on where I can go from here to find out what a fair offer would be?

What does seeing the same realtor tell you?

Hey guys,

I'm new to real estate investing and I couldn't be more excited.  The past 2 weeks I identified a few multifamily properties I was potentially going to invest in.  I have been talking to fantastic person in my market whos been helping me along the way.  He walked me through the process from start to finish, took many hours of his time to help me make sure I knew and understood everything i needed to so I could invest. 

Literally the day I decided on a plan of attack, numbers being solid any way I put it even buying at asking price, every property went under contract.  Now, this doesn't discourage me what-so-ever.  I know that's how things go sometimes, and the next property that I find I wont be nearly as slow before I jump in. 

The question I want to post to the collective is this-- Now that these multifamily properties have been potentially purchased, there are NONE left. At least none that I can find. I'm searching on Zillow, realtor, and remax. I am sure though, that they all are going to show similar if not the same information. So I guess my first question would be, am I looking in the right places? Are there ones that I'm missing? The person I'm working with is a broker, and has access to the MLS so I have that as well. Now that I missed these I'm antsy to find a deal. I wont rush into one that's bad or doesn't make sense.

The other question I have is more about strategy I think.  Personally, I'd prefer multifamily.  However, what information leads people to chose single families?  What markers do people look for when deciding which property type to pursue?

 Hey there Grant!

Thank you so much for the tips!  I really don't mind properties that need work, I'd rather loose sleep now getting things done so I can relax later.  So I have a question I'm sure you can answer- what exactly is a wholesaler?  I have a general idea from listening to the podcast, but not a true definition.  I'm also trying to figure out where I might go to network.  I have no problem meeting people or talking to them.  At the stage I'm at right now, I don't know my @$$ from my elbow so I would come off very inexperienced.  I really need more good sources so I can start to speak intelligently about real estate.  

I was actually thinking about getting my associates real estate license just so I can get some structured education on the subject.  Do you, or anyone have any thoughts?

Good Morning Everyone!

My names Christopher Labonte.  I'm brand new to BP and Real Estate.  Ive never done an introduction like this before, so forgive my ignorance.  

My journey started about 2 years ago.  I currently serve ative duty in the army, and did 2 years ago as well.  Without getting to deep into my current occupation, I became extreamly dissatisfied and unhappy and began looking towards my future.  I've been affliated with the military since I was 18, although I never planned on making it a carreer.  I've been using it as a place holder while I find my calling, that purpose that drive me to get up in the morning.  It was a long road with lots of pot holes and sharp turns, but I eventually found out something simple- I dont want to work!

Now I know that sounds strange, but I'm sure many people can relate.  I hate my job.  It makes me miserable and sucks the life out of me.  The things I enjoy doing- hiking, traveling, camping ect, they just dont pay the bills.  So I started looking for ways where I could work and do those things.  On my deployment last year, I started reading books on investings.  Specifcally Rich Dad Poor Dad, which again I'm sure many people read and got inspired.  I found some other books, but most importantly I found Bigger Pockets podcast.  And I've been listening and schememing ever since.  In the second Bigger Pockets: Money podcasts, Scott Trench  said that you should shoot to save 50% of your working income to start your nest egg.

So, here I am at the begining of 2018.  I have 11 months left of military service.  My projections say that by the end of this year Ill have 100k saved, and please dont think I'm bragging.  If anything its pitiful, because its money that does nothing for me.  But I'm now in a spot where I want to put it to work!  What better way then to start investing in a rental property.

Which brings me to why I joined the BP community.  I'm finally at a point where I have alot of scattered knowlege.  Like a shotgun blast pattern.  I have lots of information that related, lots of books read and podcasts listened to.  Its all great information, but now I need some help putting it all together so that I can reach my goal-- Buy my first rental property by April 1st.  

For those who took the time to read my story, thank you.  To you and everyone else, I look forward to being a part of the community!