All Forum Posts by: Seth Murray

I'm looking for my first rental property and am wondering- is it appropriate to ask for input in one of the forums here for a property I'm analyzing right now? And if so, which forum is most appropriate? Maybe the Buying and Selling Real Estate forum?

@Dmitriy Fomichenko thank you for the recommendations and links.

Hey, Mark. Welcome to Bigger Pockets!

Hey Guys, I'm brand new to real estate investing and just found Bigger Pockets! I'm a licensed architect, located in Front Royal, VA, a small town about an hour west of Washington, D.C.

I've reached the point where I'm tired of trading my hours for dollars and have been looking for investment income strategies that can replace my regular W-2 job as quickly as possible and start building passive income and long-term wealth. I've decided real estate investing is the best option for me given its potential high returns and allowing a high level of control over my investments, as well as my architecture experience being a complementary skill. 

I'm focusing my interest on the BRRRR strategy, and am actively looking for my first property, building my core four, and continuing to educate myself. I'm looking to invest with low or no money down so want to learn more about finding and using private money and other creative financing options. (I've got to read Brandon Turner's book on that soon!)

Excited to be here and starting the journey! Looking forward to getting to know people on the forums and building new relationships!

I should clarify that I don’t expect to be able to just start investing and quit my regular job right away, but rather- which niche or strategy would start producing regular income the quickest to replace the regular job within say 6 months or one year or whatever the timeframe might be. I’m thinking it’s wholesaling or flipping but maybe there are other options I’m not thinking of.

Let’s say I hate my regular 9-5 job and want to get started in some form of real estate investing full time, and need to make at least $4,000/month to survive at my current standard of living. Which real estate niche or strategy (or strategies) are best for providing income upfront, such as monthly or every couple months, as opposed to renting and holding long term?

@Eamonn McElroy

Ah, I see. Makes sense. Thanks for your comments!

Really interesting article on the tax haven of South Dakota. Any thoughts on how this applies to real estate investment? Seems like you could dramatically increase your net profits when selling properties with no capital gains tax.

“...South Dakota has no income tax, no inheritance tax and no capital gains tax.”

https://www.theguardian.com/world/2019/nov/14/the-great-american-tax-haven-why-the-super-rich-love-south-dakota-trust-laws

Great advice, Abel! Thank you!

I'm brand new to real estate. Found a vacant house that may be a good opportunity to buy, rehab and rent. I've found the owner's name and address (they live in another town) through the county online records. Any tips on what to say in a letter to an owner of such a property? Should I be upfront about my intent to renovate and use as a rental property (or other type of investment property) or just keep it a little more generic that I'm interested in buying it? Thanks!