All Forum Posts by: Nicolas Jefferson

@Account Closed

Thank you Glenn for putting yourself out there, it is greatly appreciated to have someone in the industry (especially in your location) you can go to and ask questions. I'll be sure to send a few your way, as a new, young investor my mind is always racing so I have plenty of questions! 

Hello BiggerPockets!

I'm a new investor who has been focusing in the area I live in currently (Muncie, IN) but I am wanting to broaden my horizons in the future, and I've always loved the Carmel/Fishers/Noblesville area. I plan on getting a career in Indy after I get done with my Master's degree, so my goal is to live in the Northeast area. I'm wanting to get to know the area before making any drastic moves.

I was curious if there were any investors who would let me "pick their brain" and ask them a few questions. The more the better!

Knowledge is power, right?

Congrats on this killer deal! I live in Muncie so if you ever need help or have any questions on property near here, don't be afraid to ask.

@Marlon Wilson

I appreciate the welcome Marlon! I'm glad the community has been so helpful!

@Jay Orlauski

Thank you Jay! I look forward to talking to all the investors with varying levels of experience. I know that I have a long way to go, but I look forward to every step of the way on my venture.

@Craig Wilcox

Thanks Craig! I'm not gonna give up, and if I ever feel overwhelmed, I always have the BiggerPockets forums to encourage me to follow my dream career.

@Michael Lee

Excellent Michael! I will definitely throw a message or two your way if I need any help. I'm actually looking at three fixer-upper student houses tomorrow, so I might need that advice soon!

@Michael Boyer

Thanks for the confidence boost Michael! Always nice to hear from a seasoned investor that I have a bright future ahead of me. My plan is to get into real estate on the side while I finish my Master's degree (and hopefully Ph.D soon!) and see if I can get a successful career out of it, combining both my Master's experience and real estate into one luxurious career. My Master's is mostly statistical analysis so we will see. However, if my real estate career skyrockets, I wouldn't be opposed to making it a full-time thing!

How's it going everyone?

My name is Nick, and I'm a newbie to the real estate investing world. I am currently getting my Master's degree at Ball State University, but I have been in love with real estate for years. Last summer, I decided to go ahead and get my real estate salesperson license to get my foot in the real estate door.

I am new to the forums, but I have been lurking and reading how to guides/blogs for well over a year now. My main focus is investing; whether this is student housing, flipping, BRRRR, or maybe all of the above!

I've been given a golden opportunity in the fact that my dad has been in the lumber business for 30+ years and my uncle is an architect for 30+ years, so they've been supportive of my real estate ambitions. I am very interested in houses in the Ball State University area (Muncie), but I want to further my boundaries to the Carmel/Noblesville/Fishers area one day (hopefully soon!). So if anyone in the area wants to lend a helping hand, I'll gladly accept it.

I am looking forward to getting to know the best of the best in the real estate industry; the fine people at BiggerPockets.

@Steve S.

Awesome Steve! I still have a lot to learn when it comes to the financial side, and those are some great ideas I would've never thought of. I really do appreciate it!

@Russell Brazil

That would definitely make sense to me if there is a guideline that does forbid a transaction between family members. I'm not sure if it would depend on the bank as well, but 15% would definitely make the scenario more difficult. Thank you!

@Steve S.

This would be a dream scenario if it would go smoothly. I have looked online for any details, but I haven't seen a scenario posted. I'm not sure if it has been posted on the forums before either. Thanks for the input!

@Clayton P.

Hahaha he's a push over, just have to say please!

Hello BiggerPockets!

I am new to real estate investing. I'm only 22 years old and currently pursuing a Master's degree, but I've always wanted to invest in real estate for the past 2 years. I always find myself back on this website looking at people's ideas and successes, so I decided to finally take a chance and join the forums!

To get back on topic, I've had a scenario for awhile and I didn't know if it was possible or if there is something wrong with the logic of my thinking. Can you buy a newly constructed property with an FHA loan if a family member built that newly constructed property? My father has been kind enough to say that he would help me in my investing endeavors, so he mentioned possibly building a whole new four-plex property, and I'll buy that property from him with an FHA loan.

Our dream scenario would be that he would be able to make money as well as I would be able to buy the four-plex from him with an FHA loan for more than he spent constructing the property. Once I acquired the property, then I would be able to rent out the other 3 properties and be able to live for free and possible have some cash flow. No idea if that is flawed thinking, but I'm not sure if this scenario is possible. It might be possible that construction of a new property is generally more than the appraised value, but that's why I'm asking you guys!

Another great thing about this scenario is that my father is lucky enough to be a manager of a lumber business, and it's easily quite possible that he can get most materials for less than the normal cost, so that could widen the profit margin as well.

Thank you!