All Forum Posts by: Josh Bugbee

 Great advice! I haven’t delved into the education section on the website as of yet, but I have been binge listening to the podcast. From what I can tell so far I think my personal niche I’d like to get into is multi-family buy and hold. But things could definitely shift going forward, I’ll be sure to take full advantage of the course. Thank you for taking the time to reply Kenny, I appreciate it! -Josh

 Well put simply, firstly to achieve financial freedom, and to work for no man but myself. Secondly because I want to be able to take care of my mother, and my future children, so that they never have to go through things like my family and I did when I was younger. Third, I’d like to hopefully be able to provide people with better service than the experiences I’ve had with “Slumlords”. Also I enjoy the rehab process or at least the transformation aspect. 

I tried to keep this in a nutshell, as I’m sure you’re not too interested to hear my entire life story, and motivations that are driving me toward these goals.

Either way this is a great and thought provoking response, thank you Jay! -Josh

 No need to apologize! I do appreciate this look into your plan and story, as I also believe it’s good to compare, contrast, and keep open to new possibilities.

Thank you Andy! - Josh

I may just jump into one of those, even though it’s not my area I’m sure I can still learn a lot from talking with people or even just listening in! I appreciate it!

Thank you so much for the welcome! Hopefully I should at least be able to connect with some good investor focused agents. My cousin and (future) sister in law work at RE/MAX and Keller Williams respectively. Both of them said that they could connect me with an agent experienced in dealing with investors when the time comes. Aside from that though, I haven’t the slightest where to begin! Are these meetups a good place to meet contractors and others involved aside from lenders?

 This is great. I really appreciate this grounded take, as I can sometimes get overzealous. Do you know if any meetings are still operating on a regular basis? I’ve looked into it some, but it seems like Covid-19 has put a halt on things like this. Are there virtual meetups happening in their stead? Also what a great idea! It hadn’t even occurred to me to focus on listening to episodes featuring guests from my age demographic to hear how they may have conquered similar problems!

Thank you so much for taking the time to reply Jonathan, I appreciate it!

Yes this is definitely something I need to not only police myself on now, but continue to enforce on myself down the line. I’ve got terrible spending habits. While those can be hard to break, nothing will change if I don’t make it. 

I appreciate the insight, thank you for taking the time to reply!

That's the plan as of this moment is to make huge changes to my spending in order to save ideally 20% of my income. I appreciate the encouragement. I have spoken with a mortgage lender in my area, and apparently they do offer FHA loans on up to 4 unit multi family properties. These do have lower down payment requirements, but there is a cap on the allowed loan amount depending on the number of units. As for the emergency fund, is this something for the purposes of rehab, or just an "in general" safety net fund?

Thank you for your reply!

My name is Josh Bugbee, and I am 25 years old. I was born in Iowa but raised in Minnesota. I work in fabrication currently, but I have recently discovered that I have a huge passion for Real Estate. I have very little capital and no experience or knowledge behind me, but I have this incredible fire and energy to act on this newfound passion and get into it as quickly as I can.

I have recently been trying to do as much as I can to dive into learning as much as I can, and have been binge listening to the BiggerPockets podcast. I’ve also reached out to people I know personally to gain their knowledge or experience. Since I’ve been listening to the show I figured I would join the BiggerPockets community to try and get in touch with some like minded individuals, connect with, and learn as much as I possibly can from this community and those in it.

So with all that said, what are some pointers, tips, advice, on any and everything having to do with getting into real estate as someone in my position? I feel all I can do right now is save money and continue to learn. I hear about some aggressive funding strategies, but wonder if I have the ability to take these routes due to my lack of knowledge, experience, and reputation.

My girlfriend and I were thinking at first of starting with a duplex, triplex, or fourplex, and continuing to buy those in succession. I start thinking of starting with a multi unit, house-hack, and scaling up in units immediately on the second deal to grow. Yet, I’ve been wondering how feasible starting with a larger multi family complex would be, am I dreaming too big?

I hate to make such a long post that’s so all over the place, but I am just looking for any and all advice or knowledge that anyone can give me on any aspect of real estate investing.

Thank you for reading, have a nice day!

-Josh