All Forum Posts by: Account Closed

Awesome hopefully there's some gems of advice scattered in there! 

Hi Jared, welcome to the forums! I'm pretty new here myself but I read the post and thought I might point you towards a particular podcast. Biggerpockets did a podcast that had a solid segment about investing while in the military and how it can be managed. 

The link is biggerpockets.com/show23

If you haven't already I'd also check out the Ultimate Beginners Guide, free on here as well. You seem interested but there's definitely a good bit of research and learning you can do before you try to pull the trigger on your first investment. It really just comes down to making it work for you and real estate is something you truly have to stay interested in for the long term.

Sure thing Adrian! Yeah it was one of the best choices I have ever made, great program. 

Hi Michelle, thanks for the welcome to BiggerPockets! That's great your kids did/are doing Running Start it gets you a lot of credit coming into college. Your oldest will also love UW it's a fantastic school, little large but you can definitely make it your home!

With the affordability calculators I was having trouble factoring in the potential rent income from multi-unit properties Although I suppose in a bad scenario I should be able to cover the mortgage entirely on my own. I definitely have a lot to learn about other ways of financing a potential property as well. I'm about 10 podcasts in and continue to keep listening to them when I can, its been very informational thus far. Books I still need to get started on though, so I'll get on that and learn some alternative ways to finance properties. Thank you for the advice and kind words.

Appreciate it Steve! Running Start let me do 2 years of community college for free and my parents/working through college definitely helped me out along the way. I'm very grateful and plan to make the best of it! I'd like to be financially independent and BP will definitely be able to help with that.

Thanks Troy,

That seems pretty reasonable enough to budget in and be worthwhile. Figure as long as I do deals occasionally it would be beneficial. I also may end up getting more involved than I'm thinking at the moment. It's nice to see you coming out in support of becoming licensed, I just don't want to get ahead of myself. If anything going through the process of getting licensed would be a great learning experience.

In regards to the REAPS it looks like you can attend any first event free and go from there! The memberships seem pretty reasonable as well.

Thanks Kelsy!

That's pretty much where I'm at right now. I figure it'll be a bit before I try to do my first deal so I've been listening to the BP podcasts and have a few books lined up to read.

Getting out and meeting people/making connections would probably be a good next step. I think I'll get a guest pass and attend one of the events and go from there. Membership looks like a pretty good deal so thank you for sending that my way!

I’m 19 (almost 20) years old in Washington State looking to start investing in real estate. I recently graduated college with a B.S in biochemistry and started a production job at 40k/year with about 20k in savings and no debt at all. I’m currently moving back home from Seattle to Federal Way in the next 4 months and looking to save further to buy my first multifamily home.

With that introduction I would like to get my real estate license so that I can actively look on the MLS and handle my own deals. I may also want to pursue being an agent as a part-time gig as well but I want to be an agent primarily for my own interests. I believe this is necessary so that I can acquire investment properties to cash flow and ideally get deals by acting swiftly.

On these lines I have several questions in regards to hanging my license and if it may be to soon for me to try to do. While I plan to save aggressively I still don't see how I could be buying lots of houses per year. Are there places where I can hang my license and only pay on deals that I do as to avoid monthly fees? Also am I missing other costs aside from monthly dues, insurance and potential cost to access the MLS? Any advice in regards to putting this off or pursuing this further would be greatly appreciated!

I also have a couple other questions I may as well ask while I’m here. Based on my yearly income how can I properly estimate how much I can spend when looking at duplexes/triplexes/4-plexs? Furthermore how can I determine what I could likely get financing for with an owner occupied first home without actually applying for financing quite yet? I’m just trying to set goals for myself and look towards what I need to save up too. My mother will also be more than happy to cosign for me we both have good credit (750+) and she does very well for herself.

I suppose I just have no basis for what I can actually afford/get into here and am looking for guidance. I'm open to anything and willing to put in the effort, book recommendations based on this post would be greatly appreciated as well. 

Thanks for helping me get started and sorry if this is a little long! I hope I can contribute to the community as I read more and get more involved in real estate!