All Forum Posts by: Nicolaas W.

welcome George, I grew up in the bay area. Does the bay area seem like a better environment for flipping compared to buy and hold?

welcome to BP! you have been busy! I am new to this and just reading all you have done is motivating! hows Texas? I am moving blindly to Austin in October pending my separating from the military!

How's it going guys (and gals) my name is Nico!

I am new to bigger pockets. I have been listening to the podcast and skimming the website but just now finally setting up an account!

I am getting out of the Army, and moving from Kentucky/Tennessee, to Austin in October/November.

I honestly have never been to Austin, much less Texas, excluding some layovers at DFW. But I have heard great things about the state, and the Austin area. I figured, I am single, young, and have no debt, why not go to a new place?! I am working on transferring my college credits and getting a degree at UT at Austin.

I am going to take some time before school to work and research the local area's to make my first investment, as well as get involved in the local real estate investing group/club.

but here is where I am looking for help! While going to school full time, I am eligible for living assistance due to my service and the GI Bill or VOC Rehab (whichever I decide to use). I can also get a home loan. the Austin BAH (Basic allowance for housing) that the government would pay me is around $1400 a month. I figured that, along with renting two rooms in a three bedroom two bath or something around that size would be a great way to get started in real estate. Not only would I be insured that my mortgage is payed (as long as I don't fail classes) but I could also acquire additional revenue or equity from the two tenants, and use any excess money to create a safety buffer say 6 months of mortgage and utilities, for when I am not in school or a tenant leaves, damages etc. Once I have that, I could pursue more investments. This would also give me the experience of being a landlord.

I have currently only read 1 book on real estate, and while it is not as heart pumping as being a professional motocross rider, I find real estate quite interesting, and an understandable way to not only make a living, but improve one's life, and standard of living.

My father got me to read The 15-minute landlord by Scott Taylor.

I am currently reading: Building Wealth One House at a Time: Making it Big on Little Deals by John Schaub.

I am also a consistent listener of the Bigger Pockets podcast, and The Real Estate guys. I just listened to the july 21st episode of real estate guys, and it brought some very privacy points to light.

Thanks for your time! and Hello Austinites! If saying that is wrong, I appologize!