All Forum Posts by: Dustin Beck

Hello,

I am trying to purchase an operating guest Ranch (not a working Ranch, but a place guests come to stay, ride horses etc). 

I am looking at ways of financing the property and I am interested in using an FSA loan. I was wondering if anyone had any advice or experience with this type of loan. The purchase price is 350k and I currently have 40k. I am trying to come up with the money before the place goes on the market and therefore time is becoming a bit of an issue. Any help is greatly appreciated.

Do you have any experience with an FSA loan?

Okay sounds good, and we are in the works on that one. Good to hear from someone from Montana! 

Hello,

I am seeking advice about possible ways to buy my dream home. The story is that my family has caretaken/ran this piece of property as guest Ranch in Montana for 35 years. The owner is about to pass away and the owners brothers are attempting to sell the property. The place is valued at 350k and I currently have 40k in the bank and make six figures a year. I need ideas on how to get pre-approved by a bank. Other issues are if I can buy the place as a home loan or do I have to get a commercial loan? Also i have 20k invested in another home how risky is it to take a home line of equity out on the 20k on my other home?

Any help would be greatlying appreciated as time is running out for us/me to come up with the money. 

Tyne,

What's up man. In the same shoes as you. Born and raised on the East and West Side of the mountains. I hear things are prime for rentals in Kalispell. Anyways hit me up anytime and good luck. 

Everyone,

Thank you very much for the kind words and great advice. I look forward to becoming part of BP community and reaping the benefits as well as paying it back when I can. Again, thanks for the warm introduction and advice, it is much appreciated.

Hello,

My name is Dustin Beck. I am new to real estate investing and heard about Bigger Pockets through a friend. I recently graduated from the U.S. Merchant Marine Academy and currently sail as a 3rd Assistant Engineer in the Maritime Industry.  I spend on average between 7 and 8 months on a ship at a time, and am out to sea most of the that time. When I am not working I spend my time in NW Montana and Greensboro N.C. 

Now, that I graduated, have a job and making money, I am starting to think about my future in the long term, and where I want to be in 20+ years. I personally feel more comfortable investing in real estate because it is more real and tangible then the stock market.

I am currently trying to establish the step-by-stop process to purchase my first rental property. I realize there is more than one way to accomplish this and many variables involved, consequently I am searching for the formula that works best for me!

Any help, tips or comments are much appreciated. Thank you!