All Forum Posts by: Guy Bailey

@Jason Wray I have a couple I am going to look at this weekend but mostly to get pre-approval. 

I am looking at a couple multi-family properties located within about 50 miles of Omaha, Nebraska. Properties could be a quad-plex or small apartment. We have zero debt and a decent annual income along with 1M+ net worth. Not really sure what to expect as this will be our first multi-family purchase. 

Any referrals for financing?

Thanks Alex, That is helpful. I have been looking into a few other investment types as well. Really I have a certain income I am targeting for this year and the small apartments seemed to be the best fit. Over the summer I saw a few of them up for sale in Omaha but I was not yet in a position to buy. This spring I will be much better positioned to jump on the right deal. 

Thanks Dmitriy. It seems the post count is very high here. I've already had to dial back my key terms so that my inbox doesnt completely overflow!

 Andrew, thanks! I watched your episode and I really liked the portion about how you setup your inhouse property management company rather than using an outhouse. Great stuff!

Thanks Matt, I might take you up on that. 

Owen, thanks for the tip on the FB groups, I will be sure to join. Regarding the limited number of multi-family homes in Omaha, that matches my findings. I am not against going outside the Omaha area though but would like to stay within a couple hours drive, at least for my first property. I believe based on location of property there be some implications on what I need to do with my RE license but that shouldn't be anything I cant work through. 

Hello BP community! My name is Guy Bailey and I am 42 years old. Today I am working a W2 as a systems engineer but I am hopeful that I will be able to transition to a replacement passive income within the next 4 years using real estate investments as my financial freedom vehicle. I have past business owner experience (5+ years) and some limited real estate experience with a rental I owned in the the early 2000's. 

Currently I am working on getting my real estate license in Nebraska and am targeting completion in early March. The intention is to use the license for commissions on my own purchases, access to the MLS, networking, and anything else I can do with it as I learn more.

My purchase goal for 2021 is to start with a multi-family apartment complex, maybe 8-12 units with a possible closing date in April or May. Once that is proven continue down the path until we have about 30 units in total by end of year. To support such an aggressive time line I have been preparing by paying off all debts, saving cash, and aggressive learning. In February I make the last mortgage payment on my primary property which will leave me with zero debt. I am planning to use a combination of cash and equity to finance my 2021 goals. 

Building my network and real estate knowledge is my primary goal right now so feel free to reach out!