All Forum Posts by: Joshua Mattson

@James Ihssen Yes I was born and raised there haha, this opportunity did not pan out. So I'm researching the market here in Great Falls, Mt where I live. Trying obtain all the the local market knowledge I can while I'm looking for my first deal. 

@George Skidis Thank you for the reply, The house is located in Dixon, Il and that would be the area I would move to. Yes I see and have thought about the lost pension, benefits and full time W2 salary. Like I said this is a very new idea and looking for a little brainstorming from the masses. 

@Dan Turkel This is an awesome idea and I appreciate the feedback. My concern would be my fathers health, recent knee replacement compounded by obesity makes him slow getting around. I do have a cousin that I could incorporate to facilitate communication to me (possible property management role) and liaison for the contractor on the updates. Just from quick real estate website rental search after updating the residence it looks like we would be in the neighborhood of $650-750 for monthly rent. Have you invested any out of state flips or rentals?

Background, I am currently in MT and am a full-time firefighter. I have been on BP for a very short time and have been listening to BP podcasts and trying to absorb as much info as possible. I have no RE experience. Currently in the process of finding partner/mentor. 

This past year my grandmother in law passed and left her house (paid off and in north central Illinois) to my father. My mother and him have no use for the house except to end up selling it. Im tossing around the idea of buying it from them. It is in good shape structurally but was an elderly persons house so no updates in decades. 

The kicker. I would have to give up my full time job of firefighting and move back to my hometown in Illinois. This idea came up yesterday while talking to my dad on the phone so the idea is very young and I am in no rush and neither are they to sell it. Housing in my area of MT is fairly expensive compared to where I would be moving in Illinois. Comparable 2-3 bedroom SFH are in the range of 50% less expensive in Illinois (rural 1-1/2 hours southwest of Chicago) compared to Montana. My first thoughts are to buy the house, do minimal updates so it's livable for my family (IE flooring, paint and appliances) then possibly HELOC it and then either flip or buy and hold duplex/Quad depending on which would be better for the market there.

What is everyone's initial impressions of the situation? what do you see as potential snags or issues I will possibly face? Again this is a very fresh idea that is being tossed around and I am not on a time constraint for the potential property.

Hello everyone, New to RE and currently in Great Falls.

Thank you gentlemen. I appreciate the welcome!

Hello BP! I’ve been on here for a few days gaining knowledge from this community. I am prior service Air Force and am currently a full time Firefighter paramedic in Great Falls, MT. I have absolutely zero RE experience. Short term i am looking to initiate my first deal which right now I’m leaning towards small single family, duplex-quad’s rental or smaller single family house flips.