All Forum Posts by: Kerry Smith

@David Lee I will definitely check out the podcast! It will give me something to look forward to on my drive to/from work everyday!

@Brandon Turner I am going to read the house flipping post this evening. I am a little nervous about undertaking a flip, but I am certain I will feel better about it after reading the thread.

@Warren Foster That's great Warren! I am certain we've crossed paths at some point. It is a small world we live in. Yes, so far I have been able to pick up a rental in every location, with the exception of my very first assignment in Ft. Benning. I look forward to staying in touch with you, and stay safe while you are abroad brother!

@Paul Timmins Thanks for the advice on the books, I will pick up a copy from Amazon. I am planning on attending the next REIA meeting in Fayetteville, and possible a couple in Raleigh. I also like the idea of student rentals, I wish there was a mid-sized college near Sanford. I may have to branch out in to the Triad..

@Steven E. I know what you mean about the 20-25% down. It can be a roadblock. My wife and I have been brainstorming on how to use OPM to acquire that initial funding to get started. I think attending a couple of local REIA meetings will help me network and develop some ideas. The rental I have in Sanford is doing well. It rents every month for a profit. Could it be more, sure, but I did not have the same knowledge base that I do now to lean on back then. In hindsight, I would have purchased a cheaper/smaller house.

@Brooks J. Thanks for the link to the site! I will definitely attend the next meeting.

@Bryan H. - Thanks for the welcome, and serving is my pleasure. Sanford has a couple of "old money" neighborhoods that most of the major personalities in town live in, and on the fringes of those neighborhoods is what I would call the "middle ground". In the middle ground, houses range from 75k-180k, and you can find some nice houses that need a face lift, but make ideal rental properties. While Sanford lacks a large commercial entity, college, or tourist attraction to draw people in, it is a major through fare for people that work in the Triad. Also, for those seeking to escape the bigger cities in the area such as Fayetteville and Raleigh, they are turning towards smaller places like Sanford for housing.

@Ken Yarborough & @Jimmy Jones - Thanks guys, I appreciate the welcome and look forward to getting to know more of you. Jimmy, I can learn something from everyone my friend. New Bern is great little coastal town by the way. My wife and I have driven through there a couple of times on the way to the beach etc. How long have you lived there?

Hello everyone! My name is Kerry Smith, and I am a beginner real estate investor. First, let me say thank you to the Bigger Pockets community! Just in the few days that I have been a member of the site, I have already expanded my real estate knowledge greatly. I look forward to becoming an active member and contributing to the site.

I am active duty military and enjoy real estate investing on the side. I currently have two single family rental properties. One is located Fountain, Colorado, the other is in Sanford, North Carolina. Both properties were our previous primary residences. The house in CO I purchased with my VA loan, and the place in NC I used an FHA 203k. Going through the 203k process was a challenging, but rewarding experience. It also gave me a lot of insight in to the renovation process.

My short term goal is to develop a business plan (thanks for the guide!), flip my first house, learning from the experience, and gaining the confidence I need to continue in the business. My long term goals are to buy and hold multiple single family properties, eventually earning $1000, $5000, and eventually $10,000 in passive income per month.

Once again, thank you for sharing your knowledge and experiences!