All Forum Posts by: Grant Boynton

@Kendal Lamb

Thank you so much for the response! I will definitely take what you said into consideration. Just a crazy transition right now so I appreciate all you said.

Hey guys,

So I am not new to bigger pockets and I know this discussion gets talked about frequently but I am in kind of a dilemma. 

So I know you can buy and sell real estate without a license. I have a job that is capped out at 67k/yr, I live in Montana where the market right now is absolutely crazy and cash buyers are coming in from out of state and buying up real estate. I don’t have the funds to compete with that.

I have an opportunity to work under one of the top real estate agents in my area and a personal friend of mine.  So the question is, do you guys see it as beneficial to work under this person,  gain mentor ship, and after a couple years have better access to deals, have the ability to buy or sell homes as me being the agent and to quit my current job currently making roughly 67k. I feel that there is more opportunities to grow and not have a capped salary but would like to hear your thoughts. Any input is very appreciated. 

Thanks Guys

Thank you all for responding to this thread. I appreciate it very much and all are great ideas!

Hey @Dave Passey, I would in fact be comfortable taking  you through the property and appreciate you reaching out. What does your schedule look like this weekend or next week. We could set an appointment and meet somewhere to talk numbers and maybe go take a look at this property :)

Sincerely,

Grant B.

Hey all,

I am in the process of maybe wholesaling a home here in Missoula, MT. I have an appointment to go check out this property but want to make sure that if indeed I do want to pull the  trigger on putting the home under contract, I can find a cash buyer quickly. I know there are a ton of great real estate minds on BP so any advice or help on the matter would be very much appreciated.

-Grant B.

I know that this thread is a little older but I stumbled upon it anyway. I have a question @Ailini Misiluki… If you don't have a buyers list (which I am struggling with wrapping my head around right now with my own situation), and when you have a deal, how do you personally find the buyers so easily? Do you just go to the BP marketplace, craigslist?

Thank you @Jim Goebel for the information I will look into a house hack opportunity. Thank you @Shmuel Waldman for your input and the link. Also, @Daniel Kong, I am more of a "red" kind of guy ha. Thanks again guys.

Hey all,

I am relatively new to BP but I have a question. I am new to real estate investing but want to jump in with both feet. I just was approved for a HELOC of 85K and I am having trouble with where to start. I need some advice on the best possible way to use that $$.

Do you purchase land and build rentals on it? (I found some land that would be a good fit)

Do you just purchase a multifamily home and rent it out?

Do you try to pursue a flip opportunity?

I know that all these are possible, but what seems like the best option here? If anyone has any thoughts advice, it would be very much appreciated. 

Thanks guys.

Hey @Maria Vogel, I actually met with my realtor about a month ago and we are going with a slightly different approach. It is the same concept and it should have a similar result but it doesn't require any family transfer. 

Missoula is surrounded by mountains and is quite landlocked but my realtor and I have an area picked out that is bound to grow due to some new amenities in the area. There are some people who have been on the edge of selling for quite some time now in this area and my realtor is going to give them a call and try to set up an appointment. I received a new job that pays better and have been saving more and more the last couple of months but haven't been as active on BP as I would like to. This plan, like any in real estate I suppose, is going to take quite some time to happen and I just have to be patient.

I hope all goes well with building the townhouses. That is a great route to take. 

That is great to hear that your kids are doing that up in Kalispell @Shelli Callan.. It is an awesome area up there.

@Ed O. I had been looking for quite some time and stumbled across that property and was just thinking of how I could make it work. It wouldn't have and would have cost a pretty penny. Since then I have been in contact with a very experienced lender and have had meetings with prior builders and have an upcoming appointment with a Realtor who specifically looks for the type of land I want. Everything is falling into place in terms of what the plan is. 

The money that I have (especially doing an owner occupied investment) can actually get you quite far here. The only thing is that everything on the market right now is sooooo old and run down. Example:  I just went through a potential 4 plex before I had the idea of building, did a walk through of the property, and the floors were sunk in, needed an entire new roof, electricity wiring was way off to where there was only one light in the corner of the room. It was hell. It would have cost a ton to get this thing fixed up and a lot of properties around here are similar. If I can take the cash I have now and build something brand new for about how much it would take to fix up old. I am just choosing to go new and build my own future and portfolio starting out.

Thanks for all your feedback. Yes, the zoning for the property is 4 units per acre. I know I don't have enough cash but that is why I am trying to think creatively just due to the location of the property. I would have to create an easement through the property and the land does have access to public sewer & water.  It is a good idea to take this to a commercial lender and I actually had an appointment with my lender, but a situation came up so we had to postpone the meeting. This may be a little too big of number to start with, but I refuse to let my mind shut down and have my first thought on a potential opportunity be, "I can't do that".  I just figured I would get on BP and get some more feedback before I spoke with my lender. I very much appreciate all of the responses. 

Thank you all again.