All Forum Posts by: Mason Blake

THIS POST! This post has become a gold mine. I never would have imagined I'd get this many responses. I realize many of you have an interest, but I still think it's still valuable as I am learning and soaking it all in. 

To all those lovers of the Midwest - I'm all in! I am from the Midwest, so I believe (AND it fits my price point). 

I love the advice of finding an experience investor to become a mentor / coach and learn from. 

@Lee Ripma how does one find a "partner" in a city without a network? I don't have a market selected yet but would be interested in finding someone with experience keeping contractors on track.

Hi there, I am new to REI and have not yet bought any properties. I live in the San Francisco Bay Area where RE prices are INSANE. While I want to nothing more than to buy a home for my family, we just can't come to grips with buying a $2M home for what we want; - it would end up tying up so much (nearly all) of our capital.

Instead, I am getting more and more excited about REI and plan to buy my first couple properties out of state. My question is how have others picked their first locations? With so many potential markets, it's daunting to start and imagine just throwing a dart at the map to look up various areas.

I know I want: <= $175k first home and likely plan to buy and hold for some passive income on a long-term rental (probably BRRRR method). I do know how to do the research on finding properties, comparing them, understanding the rental market - but there just seem to be so many options!

Advice or pointers appreciated. 

Hi there, I am new to REI and have not yet bought any properties. One of my first questions is how most people are legally structuring their first deal? As a tech entrepreneur in the legal space, I am not afraid of lawyers and understand the importance of the right structure for protection. You will ask, "what type of deal are you considering?" but I am not sure yet. I am thinking a buy and hold for a long-term rental, and eventual BRRRR.

Are most people doing their first deal personally under their own name?
Or perhaps setting up an LLC?
What if you plan to own many properties in the end?
What if you want to separate and protect your spouse from any exposure or debt? 

Hi there, I am new to REI and have not yet bought any properties. I am researching and learning and there is a lot to know. I love the learning process, so I don't mind, but I am mindful that my personality would be to reach some end state of knowing enough before diving into my first deal. I don't want to do that b/c I there are many deep wells of knowledge in this industry.

My question: how far to go with your understanding and knowledge before attempting your first deal? When you were new, how did you approach this? 

You may ask "what type of deal are you considering?" which is absolutely a great question, but I don't know yet. Wholesaling appeals to me, but I don't feel like it's my first one - my inclination is to buy a smaller lower-value home to try the BRRRR method or at least put a long-term renter in to it for some passive income.