All Forum Posts by: Perry Thomason

Hey Jim. I'll actually still be here in Lexington! The MBA from northern Kentucky is an online degree. The only time that I'll be moving is when I move into my first small multi family home!

I'll check it out! Thanks. Again, nice to see another member on here from Lexington.

Thats what I'm here for! I'm very happy to see another poster from Lexington. I do want to get a duplex, triplex or fourplex as my first home. However, My investing strategy is fairly unique because I'm in school, and I feel as thought a multifamily home with 3 or 4 units may be out of my income range. I have a very stable part time job. I've worked there for 4 years and I make nearly 15 an hour(Plus a 30% discount on groceries, which unfortunately I don't think a bank would count as income). Because I'm in school I should be receiving income from scholarships, grants, and loans as well. There in lies the possibility of saving the entirety of what I get back from school, and using it to make investments. So long as I stay in school, any loans I have don't need to be paid back. I could make smart investments so that whenever I decide to finish school, I have the income needed to pay it all back. I start graduates school this fall, and with it comes the possibility of saving 30-80k within the next 2 years to invest. What do you think?

I plan to do a combination of homes and apartments. I feel as though to only select one would lessen my chance of finding solid deals. Plus it may take some properties to build the income or equity it would take to purchase apartments. I do believe I will have a preference for multi family units. I do have some questions about construction. One of the things I'm considering in order to buy my first property, is buying land in a neighboring county outside the city, and having a duplex built on it. I would prefer a fourplex but it may be out of my income range for a standard bank loan. I could theoretically get a USDA or FHA loan depending on the area, and if the home is constructed new then I wouldn't need to rehab the home. Is building a home as good as an idea as searching to buy one?

I love audiobooks! I listen to them on long car rides or bus routes to and from class. If I could make a minimum of 100$ cashflow per unit then I would set a goal of 100 units. I hope to make more per unit but 100 units is a great standard. If I make more than 100k a year so be it.

@Kevin Seele I love audiobooks! I listen to them on long car rides or bus routes to and from class. If I could make a minimum of 100$ cashflow per unit then I would set a goal of 100 units. I hope to make more per unit but 100 units is a great standard. If I make more than 100k a year so be it.

@Michael Lee I plan to do a combination of homes and apartments. I feel as though to only select one would lessen my chance of finding solid deals. Plus it may take some properties to build the income or equity it would take to purchase apartments. I do believe I will have a preference for multi family units. I do have some questions about construction. One of the things I'm considering in order to buy my first property, is buying land in a neighboring county outside the city, and having a duplex built on it. I would prefer a fourplex but it may be out of my income range for a standard bank loan. I could theoretically get a USDA or FHA loan depending on the area, and if the home is constructed new then I wouldn't need to rehab the home. Is building a home as good as an idea as searching to buy one?

@Ryan Camenisch Thats what I'm here for! I'm very happy to see another poster from Lexington. I do want to get a duplex, triplex or fourplex as my first home. However, My investing strategy is fairly unique because I'm in school, and I feel as thought a multifamily home with 3 or 4 units may be out of my income range. I have a very stable part time job. I've worked there for 4 years and I make nearly 15 an hour(Plus a 30% discount on groceries, which unfortunately I don't think a bank would count as income). Because I'm in school I should be receiving income from scholarships, grants, and loans as well. There in lies the possibility of saving the entirety of what I get back from school, and using it to make investments. So long as I stay in school, any loans I have don't need to be paid back. I could make smart investments so that whenever I decide to finish school, I have the income needed to pay it all back. I start graduates school this fall, and with it comes the possibility of saving 30-80k within the next 2 years to invest. What do you think?

Greetings Bigger Pockets community,

My name is Perry Vincent Thomason. Friends and acquainted address me as Vincent or Vince. 

I live in Lexington, Kentucky. I graduate a month from now with a Bachelor's in Psychology from The University of Kentucky.I plan on completing an online MBA within the next two years from Northern Kentucky, and I'm considering a PhD afterwards.

I'm currently working a part time position in a meat shop at Whole Foods market. The pay is fair and the discount on groceries is a blessing.

I am new to real estate, but I can see a bright future in it. I'm currently working on finding my first home. My plan is to own enough rental properties to achieve a passive income of 100k plus every year.

I found bigger pockets through Brandon Turner's youtube channel and books. I'm looking forward to learning as much as I can on Bigger Pockets as well as meeting new people!