All Forum Posts by: Triston Blodgett

Very Helpful!

The leverage I am talking about is the down payment used to purchase a property. As someone may get hurt on your property and sue you. If you still owe 100K on a property and its only worth 110K, then theres not much to go after. On the other side a 110K property is paid off in full, then there is money to go after. 

Thank you for the clarification of the LLC tax formats. I did not know that a multi member LLC had the hybrid ability as you state. Thats why i'm here learning ! I Appreciate your time

Ive recently learned about the pros and cons of an LLC, starting out I've figured out creating an LLC is not the best option to begin investing. Ill stick to insurance and leverage. I understand to keep personal and property income/expenses separate, it all makes sense to me... heres the dilemma, (correct me if im wrong) eventually I will have an LLC and have a few partners that I will work with. I learned that a multi member LLC is taxed the same as a corporation... if we aren't able to be tax efficient with a Muti member llc, then whats the point? any guidance, advice and experience is much appreciated! Im not 100% on the way im thinking about it..

@Bruce Woodruff Thank you for the advice! 

You got the answers , I got the questions! Starting out im scrolling through Zillow, and WOW! I can get 2 acres of bare land for 25K. Mountain views, 15/20 min from center of town, no septic tank needed. Plumbing and electrical ran to the property line. The land needs very little grading, maybe half dozen of boulders and trees removed. Rural area, check if zoning allows multiple homes on property or if multi family can be constructed. My thought , put concrete foundation (so unit can be financed) and place module homes down or even container homes down. Apply for USDA? construction loan?... that gets the foundation paid for and construction? correct me if im wrong...I would need a few thousand for down payment, closing costs and miscellaneous fees. WHAT AM I MISSING? CORECT ME IF IM WRONG! Than you for your time and knowledge!

Back at it again with the questions! Im looking to get into the real estate investor community... however I can not find events. Anyone know of a meet up/event soon? Stockton , Sacramento , Modesto California.

 Very helpful! Thank you for reaching out , I appreciate you spending the time to reply! 

Thank you @Chris Davidson ! I look forward to hearing from you in the future! 

WOW! YOU GUYS ARE AMAZING! TO PUT IT IN SIMPLE TERMS! So I do have a plan in mind as im looking to use my VA loan for multi family property. I have low savings and need to do some house hacking. Low savings, I am not able to rehab, so good condition units. Also the VA loan is not rehab friendly. I also wanted to look into the specifics behind a DSCR loan, correct me if im wrong, DSCR loan allows me to use the property income to add to my primary income.

For me, walking in is important. Call me old fashioned but a good handshake and eye contact are everything. In person I can quickly get the feel for people , and decide to further a relationship or not. I feel a personal connection is what I thrive from. But I am here to learn and figure out whats works best! So if phone calls is what I need to do to further my financial freedom, then that is what I will do! 

I CANT THANK EVERYONE ENOUGH FOR LENDING THEIR EXPERTISE ! IT IS REALLY APPRECIATED ! 

I have made a list of my local "good" mortgage brokers. I will be walking in and talking with a few brokers this week. I was wondering if anyone could shoot me some interview questions ? Is there a specific answer to a question that would have you throw a red flag and walk out the building? 

Is there a certain way to approach this interview? As I am simply starting a relationship and looking to gain better understanding of mortgage world. 

Any and all advice is welcomed! Thank you for your time!

-Triston Blodgett

Really just wanted to start getting into the community, my name is Triston Blodgett. Im a veteran that served a term for the United States Airforce as a sheet metal mechanic working on the C-130s. I've been out for 5 or 6 years now, I've always had a bigger vision for financial freedom , just not quite sure how I would get there. I have a construction background specifically roofing. I've also always had a passion for owning and being my own boss. I grew up with grandparents and a father that built, managed and invested in property. Everything from a 9 door commercial building to 24 unit apartment building and a dozen or so of single family homes. At a young age I saw how difficult but also rewarding the property investment world is. at this stage im her on bigger pockets, reading Brandon Turners "Rental Property Investing" and daily listening to the groups podcasts. My struggle right no is the savings account. I am learning creative financing, keeping an ear out for team members and watching how to lock market is going. Any and all advice , tips or tricks are welcomed! I just wanted to say hello and thank you for this opportunity to learn! Also looking forward to meeting and talking with the Bigger Pockets community!