All Forum Posts by: Colby Fuller

Hi, I currently have one SFH I own and am renting out. I plan on expanding and purchasing more investment properties as I get to a better place fiscally. My question is should I start an LLC to own my current and future properties under? What have you guys done, and what is the best route to go about starting an LLC? Thanks!!

Hi Collin, when is the next meet up scheduled?  I'd really like to attend, but I won't be back from my deployment until December.  Thanks for any info! 

That is correct Brian. I was thinking about exploring they route as well. It seems challenging to find 4-plexes. I suppose going through a realtor would be my best option for finding them. Thanks for your input!

Hi everyone, new to Bigger Pockets. So I’m in the Air Force living in Nebraska. I inherited my mother’s house a couple years ago (along with a mortgage and HILOC) and have been renting it out ever since. It’s a negative cash flow of $200 but I’m planning on moving back there when I retire so I don’t want to sell it and let it go. It got me interested in real estate and would like to find some property in Nebraska that will earn a positive cash flow. How are some of the ways you guys landed your first deal? Did you save up and buy a $15-$20,000 property in cash? Is the best way to find a property to go through a property management company who can help me find a place? I’m just trying to get the advice of more experienced people on how you all secured your first deal. Thank you so much for any and all input!!

Thanks @Stephanie Fowler.  A 2-4 multi family house is what I was thinking.  A colleague of mine did just that.  Bought a 3 unit complex and lived I one of the units until he saved up a down payment for a single family house, and then he moved into it.  @Edward Peugh, Since the Air Force will give me approx. $1,300 for rent (or a mortgage) & utilities once I move to the states, I was thinking it'd be wise to put it towards property I would own one day instead of renting a place. Then if I happen to get orders elsewhere, I'd move out and rent to another military member and have them pay my mortgage for me. I can't decide if I should look for a multi-family of a single family for my next property.. As I said in my first post, I don't have much to put down and since I won't qualify for NACA, I suppose the VA loan might be the best option. Unless there is another better avenue I'm unaware of. @Kerry Baird, how did you go about buying your first property?  Thanks everyone for all the advice and information you've given me so far!!  I'm kinda of blown away.  I'm looking forward to giving back after I become more educated in this world.           

Thanks Ed for your reply and your condolences.  I really appreciate it.  Thanks a lot for the advice!  I'll for sure check out that agency.  What is your involvement with real estate if I may ask?    

Hi everyone, I became interested in real estate kind of by accident. My mother very unfortunately and unexpectedly past away in April of last year with a mortgage and a HILOC still on her house, the house I grew up in. The amount owed totaled $134,000. Since I'm in the Air Force currently serving in Japan, I only had a short amount of time to get home and take care of some of her affairs and prepare the house to be empty for a while. A few months later I faced reality and realized I had to allow it to be rented to help pay the Mortgage and line of credit. My tenant has been great and haven't had any major problems. With the help of the monthly rent payments and me throwing big chunks of money at the mortgages each month, I calculated I should have them both paid off in 8 years, just in time for me to retire from the military and move back into my paid off house. In the mean time, i'm about to be stationed in Utah and was considering buying a house or a multi family building and renting out the other units. The VA loan can help me get the property since I don't have really anything to put down. I've listened to a few pod casts and am currently listening to a first time land lord book on tape. I would really love to increase my passive income and eventually my net worth so I can be financially free living off my stocks or real estate income. Looking forward to connecting and networking with you all, take care:)