All Forum Posts by: Travis Boyd

Super helpful. Thank you all for your responses. I'm excited to build momentum in this space in 2025. 

Hi BP community! I currently House Hack in Everett, WA (near Seattle) and utilize FurnishedFinder for our basement ADU with great success. I have built up enough equity and savings and will start adding multiple rental properties each year starting ASAP. I'm currently looking at markets with high demand for traveling nurses, and I'm looking for small mutlifamily properties like duplexes to help scale faster. I'm wondering if other MTR investors are having success renting out side by side duplexes (or triplex/quadplex) as MTR's? I also plan to Brrrr. Might as well start out doing as much value add as possible, right? I'd love to hear your perspective!

 Super helpful, Stuart. Thank you!

It is for liability protection. My understanding is the key is to keep separate bank accounts and financial transactions.

Hi all. I'm planning to launch my long term rental portfolio in 2025. I live near Seattle and I'm currently trying to choose between OH and TN for my target market as an out of state investor (which could still change). I'm planning to start an LLC but I'm wondering if I should wait until I have 100% chosen my market so I use the state of that market? Or should I just get the LLC formed under WA state where I live? Also, should I find a CPA that specializes in real estate investment before forming an LLC and before purchasing my first property? For context, I have $80k in liquidity and $1m in equity in my primary residence so working on opening a HELOC and plan to add multiple properties each year through the BRRRRR method. I wouldn't be surprised if I end up with properties in multiple states so not sure how much it matters where my LLC is located. Any and all advice is welcome!

Hi Radhika!  I can 100% relate with you. Over the last three weeks I've read 7 of the real estate books and spent hours listening to biggerpockets podcasts trying to learn as much as a I can and narrow down my focus. I relate with knowing I want to build my real estate portfolio but feeling overwhelmed with how to choose a market (I live in Seattle which is similar to CA with regards to the price to rent ratio challenges), so I wanted to share my current plan. I have done a couple hours of initial research searching for top markets and have an initial list that I'm researching including Detroit, Memphis, and OH (Columbus, Dayton, Cleveland, Cincinnati) to start. I have spoken with an agent/PM in Detroit that somewhat scared me away from the Detroit market (eviction rate is currently 8% down from 20% 5 years ago and such a different environment that I'm familiar with). I also have learned Memphis can be quite spotty (a dangerous block can be just a couple blocks from a good renting location so you really need a boots on the ground agent/team that you can trust).  I'm less overwhelmed the more I talk with people, and everyone has been helpful and happy to chat with me. Now I realize it is going to take a couple months of talking to real estate investors and agents etc to help me slowly dial in my market territory. I am not much closer that I was a couple weeks ago, but the more I talk with people the more confident I get that I will get there, and you will too in time!  It may not be a bad idea to give yourself a few months to network and learn. Also, I've been asking most people I talk with for references and keep getting in contact with more people, all of whom have been happy to chat for a few minutes. It sounds like you've got the ball rolling in the right direction already, so keep up the great work!

This is such a great question, so thank you @Jonathan Greene for posting this.

In 2025 I am planning to:

A. Build network within the real estate Investment community (especially in PNW) and build my core 4: 1. Rockstar agent in PNW/North Seattle area. 2. Lender that can help me utilize HELOC to get me started and then help me grow my portfolio through BRRRR in PNW. 3. Contractor for my first ever rehab project who can grow with me as I add new properties. 4 PM to ensure my first non-House-Hack rental operates well and can grow with me as I add more properties in the years to come.

B. Invest in my knowledge/education of real estate rental investment through reading, listening to podcasts, and talking/networking with other RE investors, etc. Become an export in real estate investment while (and here's the key)...maintaining work life balance so I continue to perform well in my W2 job and have quantity and quality time with my wife and kids.

C. Solidify my "why" and long term strategy so I persist in times of uncertainty and challenge. Build scalable process that allow me to stick to my plan and maintain balance according to my values.

D. Purchase my first rental property around $500k located within 30 minute drive of my home (North of Seattle), complete my first rehab, refinance, and cash flow positively.  (the amount of learning/education I complete in the next few months may influence the price and market location as I research potential deals and cash flow opportunities)

E. Keep my wife happy by updating the light fixtures in our home, but keeping myself happy by keeping those costs to $1k or less so we can build momentum with our BRRRR.

F. Improve the photos of my MTR / house hack basement and increase annual income from $18k to $20k.

Hi Ben! I also live in Snohomish County and am planning to purchase my first rental property in 2025. I'm curious to hear how your journey has progressed and your current plans!

Thank you, @Jonathan Greene for the encouragement and intro to @Leka Devatha. I look forward to checking out Real Estate at Work.  @River Sava, thanks for your willingness to connect!  I'll reach out sometime soon. :)

Hi all!

I am new to real estate investment and planning to start ramping up long term rental properties in 2025, however my first two primary residences were both converted into MIL's and rented within months after closing which effectively followed the House-Hack tactic (we currently rent our furnished basement to primarily traveling nurses for 3-6 months at a time which covers 70% of our mortgage). Now I plan to build a real estimate investment portfolio focusing on a buy and hold strategy (BRRRR) through multifamily properties surrounding the Snohomish County and Everett area (north of Seattle). I am more familiar with single family residences so will likely start there. I'd like to keep my properties within a 30 minute drive from my South Everett residence.

A fun fact about me outside of real estate: I love distance running and cycling. I previously held the Guinness World Record for fastest half marathon pushing a baby in a stroller (Heroes Half Marathon in Everett, 2013 in 1 hour, 13 minutes) as well as fastest half marathon pushing two babies in a stroller (Snohomish River Run Half Marathon, 2017). As you've guessed, I have three kids. :) We homeschool and I'm planning on making this a family business.

My team of three young kids that like to earn money for simple yardwork and my supportive wife are just the start of my team. :) I am hoping to network with all relevant professionals in the field...especially like minded investors in my local area. I would also love to connect with agents with experience in cash positive single family and multifamily rental properties relevant to the BRRRR model in Everett and the surrounding area. I also hope to build my network of lenders, contractors, etc.

My highest priority currently is learning and practicing to identify and analyze properties. If you're open to connect, please reach out!  @Scott Trench, thanks for the example intro post!