All Forum Posts by: Will Uter

Welcome aboard, @Ricky Gibson!  I'm a buy & hold investor in the Midcity area of Baton Rouge, which is also my farm area.  I'm working on a deal right now so it may be a few months before I'm ready for the next one, but I'd like to get on your buyer's list.  You never know!  If the right deal comes along I'll figure out a way to make it happen ;)

@Robert Leonard  is right about "The RING".  It's a very active group.  I went to my first meetup last month at his suggestion.  Unfortunately, there won't be a meetup this month due to loss of meeting space, but that should be sorted out by next month.  We're sure to cross paths if you attend meetups, or you can always get in touch with me here.

@Robert Leonard, sounds good!  I'll be working all day today (and it's my wife's birthday, so my evening is spoken for) but I should be off work in the early afternoon tomorrow.  I'll send you an text and we can coordinate.

@Brandon Turner, thanks for the welcome!  I've recently set up keyword alerts and I'm already finding it very useful.

 Though your books are excellent, I'm a little skeptical about your tenant selection advice ;)

Thanks for the warm welcome and the tips, everyone!

@Robert Leonard, I feel certain I'll see you around.  Hopefully I'll be able to make it to the next meeting of The RING.  I'd love to get to talk to some local investors.  Though my family and friends are as supportive as I can hope for, there's a limit to how much they'll listen to me ramble about real estate.  Good luck with the property!  Is it a rental?

I once had an applicant ask me if it would be a problem that his taxes show he has no income.  Apparently, he earns his living playing poker and tells Uncle Sam he makes no money.  But it's okay, because if his gambling winnings aren't sufficient to pay the rent his family will give him money.  I told him the lack of verifiable income was an issue, but a bigger issue was my hesitance to enter into a business relationship with someone who introduces himself by admitting to felony tax evasion.

What kind of rental property are you looking for?  There are lots of multifamily opportunities south of LSU, though college students may not be the easiest tenants to deal with.  I'd also worry about all the new, enormous apartment complexes being built down there.  They might cause a surplus of student housing which would make the older units much more difficult to rent.  Single family homes are everywhere, of course, but I'd recommend looking in neighborhoods that you already know.  My part of the city (Midcity) can turn from "Better Homes & Gardens" to ghetto in the space of a couple of blocks.  An investor who's not familiar with the area could easily get a great deal on an unrentable house.

Hello, BiggerPockets community!

My name is Will Uter (rhymes with "computer") and I work full time as a biomedical equipment technician.  I've owned a triplex in New Orleans since 1999, where I lived before Hurricane Katrina blew me up to Baton Rouge.  Like many others, I bought it while in college as a way to live cheaply.  Despite some newbie mistakes and having to learn a few lessons the hard way, the triplex has worked out quite well.  I got married last year, and with plans to start a family in a couple of years I realized my job doesn't provide the income necessary to provide my family as well as I'd like.  Real estate seems like the best way to earn a better income given my past experience.  Besides, I've always loved houses, especially pre-WWII houses.  My plan is to buy enough rental properties in the Midcity area of Baton Rouge to generate enough cashflow to be able to quit my job and try my hand at flipping.  I've gotten most of my ducks in a row and I'm currently in the process of finding my first rental property in Baton Rouge.

I've been lurking BiggerPockets for a couple of months now, browsing posts and listening to the podcasts.  If only I had this resource available when I started out fifteen years ago!  It would have saved me lots of needless headaches, not to mention a few bucks.  I look forward to meeting new people becoming an active part of the forum.  I'm happy to be here!