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Updated 12 months ago on . Most recent reply

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Matthew Coltrin
  • New to Real Estate
  • Utah
8
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10
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New and getting started. AKA in need of a mentor

Matthew Coltrin
  • New to Real Estate
  • Utah
Posted

My wife and I are new to realestate. Our plan is to buy a 4 plex rent/bnb our current house out move 8n to one of the units in the plex str the other units and repeat the process for a few years to grow our portfolio.

Areas we are interested in,  Branson Mo, Myrtle beach SC, and Utah (our current state of residence)

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Jaycee Greene
  • Real Estate Consultant
  • St. Louis MSA
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2,964
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Jaycee Greene
  • Real Estate Consultant
  • St. Louis MSA
Replied
Quote from @Matthew Coltrin:
Quote from @Jaycee Greene:
Quote from @Matthew Coltrin:
Quote from @Jaycee Greene:
Quote from @Matthew Coltrin:

My wife and I are new to realestate. Our plan is to buy a 4 plex rent/bnb our current house out move 8n to one of the units in the plex str the other units and repeat the process for a few years to grow our portfolio.

Areas we are interested in,  Branson Mo, Myrtle beach SC, and Utah (our current state of residence)

Hey @Matthew Coltrin, welcome to the BP Forum! What is your price range/down payment amount? Are you looking for turn-key properties or something along the lines of a "fixer upper"?

do you have a personal connection (other than just living in UT) to any of the areas you're targeting (lived there before, have family/friends that live there now)?

 Hey there @Jaycee Greene, Thank you for the reach out! I grew up in the Branson and love the entertainment aspect. I have family in the Myrtle beach area and I love the combination of family, entertainment and beach aspects. And Utah. We live here and enjoy the outdoors and have lots of family around.

We'd prefer turn key, but we don't have any issues with a little fixer upper. Iv been in construction for 10+ years. So I know my way about getting small and a few big things done. Move a wall add a bathroom ect.

On the payment side this we are unsure about our abilities. We are currently trying to understand all of that. We have an appointment with a financial advisor/planner? June 10th.                  (but I am worried he will just try to sell us a life insurance policy) is this even the right person to be meeting with?

@Matthew Coltrin I love to hear that you have some personal connections to the areas you're targeting for your investment. I'm going to predict that the financial advisor is going to try to steer you away from real estate and towards stocks/bonds and other "market" investments. One of the great things about REI is that most of the financing is based on the cash flows of the properties rather than your personal income.

As for a fourplex in Branson, would something like this be of interest to you: 121 Toni Ln Unit 1-4, Branson, MO 65616?

My apologies. I am trying to read your message. But my ap seems to have a bug that reloads the page to not show anything everytime I scroll up to read it.

@Matthew Coltrin Believe me I understand, the BP app leaves a lot to be desired. My email is shown in my signature, so feel free to use that if you want.

  • Jaycee Greene
  • [email protected]
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