All Forum Posts by: Sonny Ruckstuhl

Welcome to @Ryan Hurd!

I am an out of state investor in the Medford area closing on a 4plex next month. Will likely be moving to the area in a few years as I transition from the w-2 world.

Meant to put @Willow T.

@WillowT. Amazing and inspirational.  I am contemplating just such a thing in the next year.  The next is emptying and will look to sell our current home. Have started to look for a monster and the estate idea is a great source to look. Thanks!

Am planning for this to be up to a 2 year flip to avoid capital gains and will have this project be my last step to working solely for myself.

Thanks for the inspiration. And great job. Your post has even gotten my wife excited so I can't thank you enough for that. :)

Kids today!  That is a time honored refrain.  What I like about this whole internet thingy is that information is available freely to people who want to challenge the ideas they grew up with. Friends of mine who came from successful parents might build something bigger than their parents or decay into alcohol and drug abuse. Other friends who had less growing up would strive for something better or copy their household's example.  Millenials, and whatever we label the next group will be no different.

I just like that Bigger Pockets and other communities are available to be used for education, networking and wealth building if that is what you choose.  I know at 22 I didn't have the mind to do this on my own. And, at 22, there wasn't a readily available place to learn the vast amount of knowledge and wisdom that is available 24/7 across the world like this site.  So, I do it later in life. I am happy with my experiences from my 20s. And 30s. And 40s. This forum and others like it gives us all another place to enrich ourselves

If I was young, unmarried and no kids (don't know if that is your situation), I would find someone at your local meetup that is doing the type of investing you want to do.  Then, I would offer my hustling abilities for any jobs they needed done but were not cost efficient for them to do.

Now, I am an old fart without the time or energy for hustling in person until I retire in 2 years. The kids are cooperating by growing up and out about that time.

I have to hustle with my brain and not my body until that time.

Good luck and welcome to Bigger Pockets!

Martin and Russell,

I am thankful for your thoughts about this.  I am new to investing and looking at places that are in high demand but with corresponding price tags.  With all of the comments on the podcasts about doing a deal but looking for "great" deals, there was little talk of how to look at the value of deals other than the 2% rule.  I am in escrow on a 4 unit and feel it is a solid single and will cash flow easily.  Your thoughts about depreciation and land values are appreciated as another evaluation of real estate.

And, I have a question.  The MF is in an area I plan to spend time in retirement.  What happens to any depreciation if I live in it for 2 years?

In escrow on 1st 4plex to close in January.  Looking to do more MF in areas where I have lived or have family in place such as Gainesville, Columbia SC, southern Louisiana, southern Oregon, and northern Washington state.

Plan is to get as many units as possible in next 18 months that all solidly cashflow. Don't need them to be great deals. Just good ones.

Congratulations, @Billy Maloney! I am excited by this community and hearing folks just getting started. I am in escrow on a 4 plex for first REI property. Transitioning from a well-paying job to retirement in 3 years and looking to get as many units as possible in next 18 months so I can use that income for purchases after I stop salaried job.

Also looking out of state. Escrow is in Southern Oregon (5 hour drive) and am looking in places where I have family as well in southern Louisiana/MS, Gainesville, and Columbia, SC.  Like the idea that either I or someone I trust is close to any purchases. 

Mark, I have an Individual 401k with Schwab.  I don't see a solo 401k option. The Individual 401k explicitly states I cannot purchase real estate.  Will keep looking there, but wondering if I am missing something.