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All Forum Posts by: Timothy Benford

Timothy Benford has started 1 posts and replied 7 times.

Post: How I Created an Additional $7,000/Mo. Cash Flow in 4 Years!

Timothy BenfordPosted
  • New to Real Estate
  • Philippines
  • Posts 7
  • Votes 3

Todd,

Thanks for sharing your victories and defeats.  Much of what I read about on BP is from the perspective of a 20 or 30 year old looking to get rich, so it was refreshing to hear from someone more my age and the thoughts you have on retirement.  The line that stood out to me was, “ I am tired but this can be done if you put your mind to it.” Honesty mixed with wisdom.  Thank you again for sharing.

Tim

Post: From 2 to 18 Units ($1M+ in Real Estate) In 12 Months Using OPM

Timothy BenfordPosted
  • New to Real Estate
  • Philippines
  • Posts 7
  • Votes 3

Cory,

Thanks for sharing your wisdom. As a new investor it is helpful to not only see the numbers but see what the number buy in renovations.  Whoever your contractor is, he/she did an amazing job.  Best wishes.

Post: Goal Setter, Goal Achiever, Millionaire.

Timothy BenfordPosted
  • New to Real Estate
  • Philippines
  • Posts 7
  • Votes 3

Michelle,  

I have not invested here yet.  I am starting out my investment journey this year.  But...I have several friends who own property here and I can get you information if you need it.  One of my friends has a very successful Airbnb near my house in Poblacion.  I would be more than glad to help out any way that I can.  

Post: Goal Setter, Goal Achiever, Millionaire.

Timothy BenfordPosted
  • New to Real Estate
  • Philippines
  • Posts 7
  • Votes 3

Matt,

This article was exactly what I needed.  As I am starting out, it gave me a perspective of what to expect.  I especially liked the ‘bad’ and ‘good’ example you gave for ‘What can you teach me about?’  Thank you for taking the time to share you journey with me.  

Post: American Living Abroad Trying to Start Out

Timothy BenfordPosted
  • New to Real Estate
  • Philippines
  • Posts 7
  • Votes 3

Thanks Kevin.  

Post: American Living Abroad Trying to Start Out

Timothy BenfordPosted
  • New to Real Estate
  • Philippines
  • Posts 7
  • Votes 3

Thanks Anthony for the advice.

Post: American Living Abroad Trying to Start Out

Timothy BenfordPosted
  • New to Real Estate
  • Philippines
  • Posts 7
  • Votes 3

Hey BiggerPockets People,  

I’m new to BiggerPockets, Real Estate, and Investing.  This is my first post and I’m sure many more will follow.  As mentioned above, my family (wife and two kids) have been living in Manila for almost 9 years now.  We were teaching in Phoenix and the education system just ‘crapped out’ there.  We looked to overseas teaching and landed an amazing job in Manila.  This job has aloud us to pay off all debts, improve our credit to 800+ and save money.  The goal now is to build wealth!  

As an overseas worker, I have no tie to a particular state. This affords me the opportunity to choose the best markets to invest in. We are eager to start the BRRRR process with Single or multifamily homes. The areas we are looking into are Fairfax Virginia, Charlotte and Austin.

The advantages we have being in Manila are: great savings, freedom to choose an area to invest in, and we can invest 2 months during the summer in full time focus on real estate.   The disadvantages are: trouble finding funding because we receive income from a foreign employee, not in country most of the year, and building a business from abroad.  

  I am extremely motivated! I know this will happen no matter how long it takes.  The goal of this post is to find some answers and get some advice to make the process a little easier and run smoother. So three top questions are:

#1. Do you know of finance companies/banks/institutions that will lend to overseas workers for BRRRR?

#2 If you could choose any market in the US that will grow in value over time and is also a great area for rental property investments.  

#3 Anyone out there who has been in a similar boat (Overseas foreign investors and US citizen) that can give me some tips?

Thank you for reading this post and I look forward to gleaning some wisdom from you all.