All Forum Posts by: Matthew Gilman

@David Ounanian that would be awesome! Hope all is well with you! And I finally made it into the market last year!

@Daniel Hyman

Thanks so much for the insight!

Hi,

I am in the Saint Louis, Missouri area. I currently own my first 4 family where I owner occupy and have fixed it up over the past year. I am looking to buy my next property very soon! I have only owned this a year but want to keep growing my portfolio.

I have read a few books on taxes in the rich dad poor dad series and have some basic knowledge around the tax benefits and breaks. However, with my current 9-5 job and rent addition I am getting towards some of the limits for what I can deduct and some other financial limits based on my year. I would not like to have to pay a penalty for doing things incorrectly. ANY IDEAS?

Hey my name is Matthew Gilman I am a new member of Bigger Pockets. I have been listening to the Podcast and the biggest thing they harp on is introducing myself in the forums.

I am a 23 year old Software Engineer working for AT&T living at home in Saint Louis, MO. I am saving as much money as I can right now to be able to buy a duplex or multi-family home and owner occupy. My brother owns about 4 multi families in Saint Louis and does his own contracting and land lording, so I have a pretty good idea of what is required to do this.

Here is the twist. My girlfriend lives in Middletown, NJ and I am planning on moving there in December or January and looking there to get a multi family owner occupy property. I will maintain my same job, since they have an office in Middletown actually, so that works out very well, but I will need a place to live obviously. I have done research on zillow primary trying to get a feel for prices in that area and been out there a few times, but I am no expert at all on the area. I know it is significantly more expensive then Saint Louis. I am looking into Asbury Park, Long Branch, Middletown, Redbank, and pretty much all around that area.

The general feel I got from zillow was that the multi families were ranging from 250k - 500k or more, but since I could get a first time home buyer and I have money saved up I can do first time home buyer loans. I am no expert at this, but that is my general idea of my plans for starting my real-estate investment career. My goal is to live for free or for a significantly less amount than renting, on my first investment, so that by renting it out it covers the costs of the mortgage and taxes and such. 

If there is anyone currently out there that has any advice or tips about the area, multi families in that area, real-estate agents, and such I would be extremely happy to talk with you. Or if you just want to say hello and your from the area, it would be great to know some more people there. I am obviously very young and I know that the podcast and investors always say its good to get involved when I am young, so I am hoping posting here is a good initial step.