All Forum Posts by: Jim P.

@Alex Silang,

What do your tenants say?

What does your bank account say?

What does your conscience say?

----  Those are the only things you should be listening to.  If there is any bad feedback from those sources- then you need to listen, and act...

I bet you're doing fine...

I've been doing this for about 1 1/2 years- I get the same stuff.  I do think most people are too scared to do it themselves, and jealous of anyone who is doing it.  Also- everyone's a self appointed expert- and love to give you input when they don't have any risk/skin in the game.  Sadly, I find most of their "education" is from reality fricken TV, or "I knew this one guy who......" type stories...

I'm happy (and thankful) that most of my knowledge was found here on biggerpockets- much better source of info than negative people...

If you're doing good things- keep doing good things!  If you're not doing good things- change/fix it!

Jimmy

@Bryan McCloskey,

Thanks for the honest background info.  Many will learn from your, and everybody's input to this thread!

- None of your decisions seemed "easy" or "black and white"- glad you shared so I, and others can learn...

thanks,

Jimmy

@Tyler McGee

Congrats! "percolating" is awesome...  "Fools rush in"... Right???

Anyway, welcome to Biggerpockets- the first of many great steps you've made toward intelligent RE investing...  Many, many, great people here who help each other out.

Welcome! and Good luck to you!

Jimmy

@Patrick H.

Congrats on your big decision toward living your life on your terms.  We're only here one time! I'm in a similar boat- great paycheck- horrible job, lost family and friends along the way (which reminds me to live life while I can)...  Working my way toward my 8th,9th, and 10th units as we speak (should close on two next week).

Anyway- thanks for posting! Very motivating for the many of us on here that are contemplating the same thing--- maybe we need a little "kick start" like your post did for me.

lots of luck!

Jimmy

Hi All- I'm in a similar boat.  I'm searching/learning now...  I can't remember 100% but I believe one of the earlier podcasts addresses the benefits(tax help, etc...) of historic properties...  Just searched quite a bit- can't find it!  Will try to find it later, when I'm not busy...

thanks,

Jimmy

@Dan Ward 

I don't have a question- but have already learned a bunch from your previous answers...

thanks for making your expertise available!!!

thanks,

Jimmy

Jabari,

Thank you for your service!

-I'm also in the Boise area (live in Kuna).  You will find an amazing amount of info here on Biggerpockets.  Very helpful folks.

---  Also, check out the Boise meetups (I've only made one meeting, but great folks there as well.  Like minded people sharing great info to help each other out.

Also, if you need anything- Jonna Weber is a great resource, and a great person.  I haven't bought anything the in Boise area (yet)...  But Jonna has been very helpful and very patient with me- I'm still looking to buy here, maybe sell my house in Kuna--- Jonna will definitely be the one I go to when I decide to do either of those things... I don't know if you work in the Boise area or Mountain Home--- I'm sure she can help at either location, or recommend someone in MH if you want to invest there too.  I've talked with her about some properties in Pocatello and Idaho Falls, and she was happy to refer me to Realtors up there as well...

Welcome!

Jimmy

@RIck Montanari:

Sorry- haven't had time to read all of this thread (and have to get back to work also)...

This is something I've considered- but possibly a slightly different way.  Small homes- but prefab homes.  On Ebay (I know...   Ebay???) there are several designs that are below $20K delivered.  Of course- you need to buy land, utilities, foundation, etc... etc...  Also building codes, etc...  need to be looked into also.  But looks like an option.  I haven't run all the numbers yet, but It appears like a solid cashflow option...

A few of my "almost" deals have had extra lots attached, so this is something I'm looking into to put that vacant land to use- if I close a similar deal in the future...

thanks,

Jimmy

Thanks all, it wouldn't be possible without a lot of 'learnin' here.

@Patrick Martinez - I subscribe to Realty Watcher, which gives me an email update of whats on the MLS every morning in my Inbox. That, and @Jonna Weber - has been very, very helpful with general information/Boise area MLS, etc... I haven't found the "perfect" property here in the Boise area yet, but Jonna and I have been searching quite a bit. I have very strict buying criteria- and I am passing on some deals that are good deals- but we'll get there...

It is true what they say about increasing your odds of success by working with good people... I luckily found a great realtor in Butte this time, so I'm luckily starting to amass a "team" of great people. A couple hiccups here and there---- but things are progressing very nicely!

thanks,

Jimmy

Hello all,

I just closed today on my 2nd property (now 3 doors with hoop dreams of many, many more)....

Very small 1 bed 1 bath house (cottage?) up in Butte Montana. Up on the hill- in an area that's seeing improvements. Very close to a paved biking path (we call it a "greenbelt" down here in Boise). Basically this biking path goes to/thru the College there and should be a great renting/selling point.

This was bank owned- had buy it at $25k cash, as there was another potential buyer on the line... A few minor improvements and I'm hoping to get $500-$600 gross monthly rent(that may be high, we'll see)...

Anyhoo- thanks to everyone here at BiggerPockets- I've learned a bunch and am still learning a bunch from all here....

-upward and onward!-

thanks!

Jimmy