All Forum Posts by: Richard Boyd

Hey everyone!

Just wanted to know if there are any investors here from south Ga.

If so, How's the market near Valdosta and what strategy is best?

Thanks for replying. I believe the route I should take is to rent a small apartment until I can find a place with owner financing.

Also, Thank you for replying!

So you're saying if I don't have a job offer, we're completely screwed? Are there any other options here?

Hey Everyone,

I'm stationed overseas and my fiance and I separate the military in December. We'll both be veterans and utilizing the GI Bill for college and our income will be about $3400/month from the GI Bill. With this in mind, I want to purchase a residential multifamily home. The bank told me we would have to show proof of income for one year out. Does anyone have any advice on how to do so if there isn't a way for us show proof?

I don't want to have to rent an apartment because of this little hiccup. 

What type of heating is the cheapest? I don't want the bill too high. Also, is there anything else that could fluctuate in price causing bills to go up?

That does sound wonderful; the only downfall to this is that I have a fiancé and she doesn't want anyone living with us. Any tips on that? lol

@Mark Nolan@David MacClintock

Thanks for all the great information!

I'm surely to use every bit of it I can acquire.

David, When you say duplex, would that mean to rent out each room individually or is there a different strategy I can use? I apologize for all the questions haha. I don't want too much drama, but I would enjoy the max cash-flow possible of course.

Hey and thanks @David MacClintock, 

I have looked and I assume it would be in the Amherst area. I will be attending UB and student rentals are fine. Being a student myself, I can't afford too much, if any, negative cash flow; that's the reason I don't want a duplex... It does seem like a ton of older homes in the area. I want to make this area work for me because I have a good shot at the dental school there. I will do more research on the Buffalo Billion thing. Do you know how I could do some research on where the city is heading in regards to the economy? I don't reckon there's too many reports on the subject (assuming). Back to cash flow, I don't mind being neutral, with just enough to do repairs and such, and I'm not afraid of getting dirty for repairs; I can fix the basics. Thanks again!

Best Regards,

Richard Boyd

Hello Everyone, 

I just wanted to ask a some questions regarding Buffalo's market. 

1. Does anyone have some solid reliable realtors and brokers in the area that deal with multifamily? I'm asking because in a few months, I will be on the search for a tri/quadplex.

2. How difficult is it currently to get your hands on one of those properties in that area right now? This will be my primary residence as well. 

3. Are the individual units easy to rent out right now? Will I be looking at waiting to find a renter or are they pretty common?

4. What are some good areas for buying? My budget is at about or a little less than 300k with a VA loan.

5. What kind of market is the area in right now? It appears to be close to peak. I'm ignorant though. 

6. Should I even start investing here? I will have a partner, but what are the odds of me buying a quad every year?

7. Are there any other factors that I should be aware of? 

I'm asking all of this because I won't be living there until I purchase a place and I don't want my first one to become a mistake. I have read just about everything I could get my hands on and I'm ready to start investing. Also, I have read about people using their Roth 401k to invest with while paying little taxes; does anyone know more info on that?