All Forum Posts by: Jolu Talampas

@Benjamin Cook Nice! Well, I came from Minot and the rental market there is not very good at all. When I got my PCS orders to Malmstrom, I was fortunate to meet @Mark Caiazza who himself had just PCS'd out of Malmstrom and into Minot. He gave me a pretty good insight on how things are in GF and so I figured that if ever there was a time to actually get into real estate, this is it.

From what I can infer with people I talked to, GF has a competitive multifamily residential market. Residential multis get offers pretty much the same day or the next day they go on the market. Vacancy is pretty low as well, and as long as your rental is priced correctly, it's easy to find a renter. My strategy is to buy and hold and I would like to get into the commercial real estate game (small apartments). What's your strategy?

@Egan Lohman Thanks! Nice meeting you yesterday. Looking forward to finally get my feet in the game.

@Joshua D.

Thank you. I listened to BP podcast 249 with you in it and it was really good stuff. Seeing as you're in Montana and you did the same thing I wanted to do really motivated me. Thanks!

@Josiah Pisel

Thanks!

Yes, that is true and I am going to use my VA loan to acquire my multiplex. Thanks Nate!

Hello fellow members, new investor here from Minot, ND. Got military orders to move to Great Falls MT on Feb 2018 and I've heard about some BP members active over in that area. I'm reaching out to network, get connected, and hopefully be a part of that REI community. :)

I am primarily focused on buying and holding multifamily/commercial multifamily as my real estate investment vehicle of choice. I still have not gotten my feet wet into actually acquiring my first property; Been analyzing buy and hold deals in Minot and I may be doing it wrong (being new), but couldn't find anything viable. Seems like rents are too low for the prices of properties in the area. So for the remaining time I have here in Minot, I'm switching strategies and I will at least try to do a wholesale deal since I feel that that may be what could work. If I fail, at the very least I can feel good that I've taken a step forward to financial freedom and I've learned a lot of lessons from the experience.

This move to Great Falls is my opportunity to finally get my start in the buy and hold business and I'm also currently house hunting for a residential multifamily over there that I will house hack.

I'm pretty excited and looking forward to meeting you :)

Hello fellow members, new investor here from Minot, ND. Got military orders to move to Great Falls MT on Feb 2018 and I've heard about some BP members active over in that area. I'm reaching out to network, get connected, and hopefully be a part of that REI community. :)

I am primarily focused on buying and holding, multifamily/commercial multifamily as my real estate investment of choice. I still have not gotten my feet wet into actually acquiring my first property; Been analyzing buy and hold deals in Minot and I may be doing it wrong (being new), but couldn't find anything viable. Seems like rents are too low for the prices of properties in the area. So for the remaining time I have here in Minot, I'm switching strategies and I will at least try to do a wholesale deal since I feel that that may be what could work. If I fail, at the very least I can feel good that I've taken a step forward and I've learned a lot of lessons from the experience.

This move to Great Falls is my opportunity to finally get my start in the buy and hold business and I'm also currently house hunting a residential multifamily that I will house hack.

I'm pretty excited and looking forward to meeting you :)

Congrats! Now I'm getting motivated to follow you and close my first deal

Hello everyone, I'm just starting out and I'd like to get advice on what options I have or can utilize to achieve my goal. Basically, I'd like to achieve a monthly income of 10-15k (all passive as much as possible) within 5-6 years. I am starting out by purchasing residential properties for buy and hold (preferably multi-family) as my first few purchases.

I am aware that solely relying on residential rental properties will probably not let me achieve my specified goal (netting on average $100-150 monthly cash flow), so I am looking at other options that will help me do so. Since most banks only allow 4 mortgages (correct me if I'm wrong), maybe I can have 3 rental properties and use the 4th mortgage for house flipping, using the profits to slowly pay off the other mortgages, until they are free and clear, thereby freeing me up to apply for more mortgages, and increasing my monthly cash flow from those that have been paid off.

I am also open to try other methods that will help me achieve that goal and I'd like to know what you've done or would've done yourself. Such as probably moving over to commercial buy and hold, etc.

I've been reading the "20 Years to 20k month passive income" thread and found some pretty decent information there. One member mentioned something about "Commercial mixed use NNN" and "Contract for Deed". Still new to this thing so I would appreciate some enlightenment on them.

I really don't have that big of a bank account, so I am looking to start with zero or no money down. And yes, I am currently reading @Brandon Turner's book about it and finding it quite valuable as well as a learning tool for me to take that step forward.

Thanks everyone!

Thanks for the warm welcome everyone; looking forward to moving forward!