All Forum Posts by: Murray Nicol

As a follow up I WOULD like to say if you present me with a legit business proposition and are trustworthy, as well as would be willing to enter formally into a legal partnership, I'd be willing to invest about $400 a month *as a partner* in a number of opportunities, preferably buy and hold rentals. Message me!

I'm Murray Boyd Nicol II, I'm in the norfolk area on military orders and I am dying to get a piece of the industry. I simply want to put out that if there are any deals that you might consider taking on a (very) inexperienced hand, I'm your guy. I don't have much capital but I'll help in any way you see fit so long as I get a glimpse into the investing world. I'll work for free as long as you'd pass on knowledge and wisdom to me. Message me if you'd like! Thanks a million.

So to all wondering where I'm at now, I've decided I'm going to hold off on jumping in right now (as excited as I am to get in asap) and to focus on building cash reserves, my network and knowledge about the market and investing as a whole. I'm projecting putting away 6k in 2022 and 8k in 2023 as well as an additional 5k from January to July of 2024 (July 2024 being when I plan on getting out of the military) and at that point I'll have 25k. I want to ask, however, for yall's thoughts on putting that money in index funds in the meantime. I've come to love index funds ove the last 2 or so years, and I don't mind paying some taxes on profits.. however I know short term capital gain taxation may be something to avoid. Thoughts, please and thanks!!

@Doug Spence

@Ryan Estes

@Luka Milicevic

thank you for contributing. I don't have much reserves right now, little over 2.5k that I'd be comfortable utilizing-but right now I'm on track to put aside little over 6k a year with my current rank and progression and everything which isn't a whole lot. And I really don't like sitting around and waiting when my money could be earning me more- I know I might need to wait, build reserves and connections, and learn. And Luka I think I will definitely utilize the MLS moreso now than I would have before.

@Doug Spence thank you for the wisdom. I think house hack is simply the term I was looking for instead of sublet. I want to ask personally, if I may, if you're enlisted or officer because for me in my enlisted situation, money is a bit of a problem. I'm very tempted to max out my credit card on closing costs and rehab stuff as well as appliances and such. Thanks again! Feel free to dm me, I would absolutely appreciate a more personal relationship with you!

@Daniel Inman sounds good thank you for the clarification and further explanation. I liked the car analogy.

@Daniel Inman I appreciate the good word. When you say closing cost assistance, what exactly do you mean by that? Enlarging your loan amount so you can have some rehab done? Thanks again.

@Sean Rooks Lots of useful and actionable information, very appreciated thank you. I do plan on holding as long as it is profitable honestly. I like the potential long term tax benefits as well as I understand the idea that equity is power. I'm considering more than anything now, house hacking by myself and and renting to military people and build equity. I think I want this one by myself. Thanks again!

@Joshua Janus @Joshua Janus thank you for the reply. Between the 3 of us we would still likely be looking at taking out debt to fix a prospective house up, which I'm not opposed to, but I could do on my own and net a better profit. Thanks again!

I dm'd you back and appreciate the networking opportunity and shared knowledge! I'll connect with him. 😁🙏