All Forum Posts by: Mark Millich

@Kiera Underwood - Thank you! I'd be a little hesitant with long distance investing to start, but I'm definitely open to hearing more about it.

@Mike Roy - Thank you for the feedback! I'm just trying to start correctly and limit my risk. I've heard pros and cons to both single family and multifamily homes. When it comes to building a team, where are the best places to start? Any recommendations for finding a quality real estate agent, contractors, etc.?

I'm looking to invest in my first property, but don't know where to start.  I'm going back and forth between single family and multifamily homes. While the multifamily may cost more, it seems to me to be the better investment since you're obviously getting multiple units. I'm finding some very decent multifamily homes for around the same price as some singles as well. I'm taking into account the expenses as well on these - property taxes, vacancy, insurance, mortgage etc. Any advice is greatly appreciated!

@Chad Kastel I plan on doing just that. My coworker agreed to let me tag along with him to see some of his properties and get an idea on what he's investing in. He tried to put me in contact with a potential seller, but that fell through.

To give you a run-down, he's investing in very cheap properties ($12,000-15,000) and going in half with his cousin (several single family homes and a duplex). Together they're rehabbing the properties for several thousand each and then renting them out. All in all after purchase and rehab, I believe he's putting in less than $20,000 per property (just an approximation); all in cash and split two ways. His recommendation is to start very small, partner up with someone, and use cash so that I don't have to take out a loan. The idea for me is to just understand the process of buying and renting without taking too much of a risk with large scale loans. He's been incredibly helpful with the advice. Any thoughts on this method?

@Kyle Mccaw Thank you! I was looking at contacting a property manager here soon. I'll need to look into investments clubs in my area.

@Chad Kastel Primarily, I'd like to find some cheaper properties (single family homes), put a little work into them, and then rent them out and hopefully make a decent cash flow. Ultimately, I'd like to make enough one day to "retire" off the cash flow. I'd like to apply some forced appreciation to the properties too in order to increase their value. I've already calculated some properties using both hand written calculations and the calculator on here with the Pro Membership. The deal's I've found aren't necessarily "bad", but I'm always wondering if I can find the same resulting cash flow with a cheaper deal.

In terms of my coworker, yes, I'm looking around the same areas as him as he's been finding great deals through his connections. He's ultimately looking to purchases apartment complexes down the road, but right now he's focusing on single family homes.

@Kyle Mccaw Thank you! I was

Hi, everyone! I am brand new to the world of real-estate. However, what I lack in experience, I make up for in passion, drive and work ethic. I’m currently reading The Book on Rental Property Investing and just upgraded to the Pro Membership on BiggerPockets with the hopes of networking and learning as much as I can.

A quick background: I’m currently a safety manager for the one of the nation’s premier electrical contractors. I graduated from college in 2017 with a degree in safety management and criminal justice. My career has taken me all around the country over the past several years and I couldn’t have been more fortunate to have the opportunities that I have. I’m also a soldier in the Army National Guard and was recently promoted to Sergeant. Over the past two years that I’ve been out of college, I’ve done my best to save my money and not frivolously spend it on materials that I don’t need (ie. new car, toys, etc.). My career pays relatively well for being 25 years old. I’ve had plans to ultimately invest my savings in something that will make me money, and after learning that a close-coworker of mine began investing in real-estate several years ago, I became immediately interested. My coworker recommended I read the book Rich Dad, Poor Dad, which I just finished recently. It was an inspiring read to say the least.

Currently, I’m working on gaining as much knowledge as I can in the industry before I make an investment. While I’ve been doing this, I’ve also been looking up houses on Zillow and Realtor.com to get an idea of what to buy. The issue, however, is that I’m not certain what is considered a good deal and bad deal. I’m finding decent properties, but everything I’ve been learning has me questioning whether or not there’s a better deal (which I’m sure there is, I’m just not sure where to find them). My coworker is apparently finding properties for half the price of what I’m finding. Essentially, he is able to buy several properties for the price of just one property that I’m finding on these websites. He told me that he’s been finding all of his deals through networking.

This is my goal with the BiggerPockets Pro membership: I’d like to network with as many people as I can, build professional relationships, learn what I can from the best minds in the industry, and hopefully learn about some great deals and opportunities along the way.

I’m currently living in Charles Town, WV. Proctor and Gamble just established a large manufacturing facility in the area, which is bringing in many jobs for people. I figured this may be a good area to start investing in. However, I also have family in the Pittsburgh area (Greensburgh, Pittsburgh and Aliquippa area to be specific) and am hoping to find some great deals out there as well.

Any guidance, advice and information potential opportunities would be greatly appreciated.

Thanks, everyone!