New Member. Currently in Europe. Summers in Oregon/Utah.

New Member Introductions

New Member. Currently in Europe. Summers in Oregon/Utah.

Riley Luettgerodt

Salt Lake City , UT · Member since 2015 · 7 posts · 1 vote

Hello Everyone,

This is Riley Luettgerodt. I'm 29 years old. Born and raised in the Portland, Oregon area entail I went to college in Hawaii. I live the summer months in Oregon and Utah, with the rest of the year spent abroad. I'm currently in my 6th year of playing Pro Basketball in Europe. I have played in Portugal, Czech Republic, Spain and Switzerland. I enjoy traveling and seeing the world in my free time, which has taken me to over 20 countries all over the world.

I have always been interested in Real Estate and have some family and friends who have been successful in different Real Estate adventures. I will most likely play in Europe about 2-3 more years and I would like to dedicate my free time and summer months to finding a niche within Real Estate. This forum has been a tremendous source of information. I'm constantly reading all the posts and listening to podcasts. I'm interested in experimenting with wholesaling, but the plan is to get into Multi-Family investing. I'm anxiously waiting the end of my season so I can get back to the USA and get started.

Any advice on things to do in the next couple months remotely so I can hit the ground running would be very appreciated. I look forward to connecting with many of you. If there is any value I can add to anyone please don't hesitate to reach out.

Best,

Riley

[email protected]

801-783-4198

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Most Popular Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

11y

@Riley Luettgerodt

Both Oregon and Utah are great markets to invest in RE.. I think you will find some nice properties in the MF sector.. secondary cities in the Willamette valley offer some good value.

At one time I owned personally 350 out of state SFR's so I have a little experience at this :)

And I had a lot of Aussie clients investing with me in the day.. And a lot of them were having troubles cutting through the white noise.. So I wrote a little E book on the Do's and Don'ts of out of state investing.. I make no market recommendations or company recommendations. Just 20 years of owning out of state and all the little things one needs to know and to look out for.. Things your just not going to get from Sales brochures ( which of course only talk about the positive) Happy to send that along you can PM me and will send it right over.

Also Will Bernard one of the most respected posters on BP wrote in a thread the other day can't remember which one.. But he was commenting on its the little things that will kill you in out of state investing he made some pretty neat points as well.

Best of luck to you.. I am here in Lake Oswego myself.

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William Hochstedler
Broker · Logan, UT · Member since 2013 · 1k+ posts · 1k+ votes
11y
Welcome to BP!
While you are still in Europe you can set up property notifications in Zillow to start watching activity in your target markets. Even better, you could reach out to agents here that can set you up with daily listings of activity in your target area. You may be disappointed with prospects for multifamily in both Portland and Salt Lake right now.
Continue to post questions here. It is a great place to make connections and get answers. If you are not aware, many users have keyword notifications setup, so with geographically specific questions, be sure to include the city and state names in your posts.
Good luck!
0 Reply
Larry Fried
Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
11y
@Riley Luettgerodt Hi and welcome to BP! I live in Eugene but don't invest locally. Rather all my buy and hold investments are passive and out of state.
0 Reply
Randy Johnston
Residential Real Estate Broker · Beaverton, OR · Member since 2014 · 335 posts · 149 votes
11y
@Riley Luettgerodt
Welcome to BP, this is a great forum for anything real estate. Feel free to contact me anytime you're in the Portland area and we can meet for a coffee and talk about the market.
I sure you're having a great time with your travels . . . I lived in Spain for several years and had a chance to visit many countries before returning home.
0 Reply
Chris L.
Investor · New York, NY · Member since 2014 · 156 posts · 48 votes
11y
Welcome, Riley! Did you listen to podcost #108? That was about multi-families. Grant Cardone talks about how it's important to do lots of research on the area first and also make sure that your name is known by the brokers in the area, sometimes that's more important than the bid amount itself. Good luck with your investing!
0 Reply
Mike Gallagher
Ogden, UT · Member since 2013 · 266 posts · 51 votes
11y
welcome to bp, if I can be of assistance, just let me know
0 Reply
Sean Mitch
Investor · Alexandria, VA · Member since 2013 · 8 posts · 0 votes
11y
Welcome to bigger pockets! Sounds like you're on the right track. I'm living in Italy these days, let me know if your season brings you down this way. Love to see you play.
0 Reply
Riley Luettgerodt
OP
Salt Lake City , UT · Member since 2015 · 7 posts · 1 vote
11y
Thanks for the warm welcomes everyone. This forum is a tremendous resource.
@Sean Mitch Sounds great. What part of Italy are you in and for how long? I was just in Milan last weekend.
@Mike Gallagher Thanks! I will be in Utah in mid May. We will have to connect.
@Chris Lad I just listened to that podcast the other day! Great insight in that one. What other podcasts did you find most informative for your investing?
@Randy Johnston Spain is a great place to live. I was lived their for 2 years as well. I will be in Oregon the end of April I will defiantly take you up on that coffee offer.
@Larry Fried Thanks for the welcome. Go Ducks! I was just reviewing your website. Great stuff.
@William Hochstedler Thanks for the welcome. Do you recommend any area's in Utah that provide decent Multi-Family options?
0 Reply
Micki M.
Flipper/Rehabber · York, UK · Member since 2013 · 895 posts · 453 votes
11y
@Riley Luettgerodt welcome to BP, the suggestions about using online resources are great. Do you know @Kevin Fletcher , he plays bball overseas as well. He got started online from afar and might have some insight for you.
0 Reply
Riley Luettgerodt
OP
Salt Lake City , UT · Member since 2015 · 7 posts · 1 vote
11y
@Micki M. Thanks for the welcome! I don't know him personally but I have defiantly seen his name on some European Basketball websites over the years. Thats very cool that he started in a similar fashion as I'm trying to do. I will for sure reach out to him!
0 Reply
Kevin Fletcher
Denver, CO · Member since 2013 · 185 posts · 160 votes
11y
Hey @Riley Luettgerodt I am doing the same thing man. I'm playing on Poland now but I think this is my last season. I will go straight into real estate investing when I get home after this season. Where are you playing now? I went through the same thing overseas. It's hard for us athletes to know what to do next. When I got serious about REI It gave me a true goal for after basketball. I've been investing part time for about 7 years and I have a multi family and sfh. Let me know if you have any questions or just wanna knock ideas around. Levin
0 Reply
Lumi Ispas
Real Estate Consultant · Chicago, IL · Member since 2014 · 720 posts · 439 votes
11y
Hi @Riley Luettgerodt welcome to BP! I hope you enjoy Europe. I am from there and I miss it in the summer.
Multi-unit buildings is the way to go if you are not going to be in town for a while. You'll have to decide on a market, and start looking on loopnet to see who are the most active commercial Realtors in the area. Then contact them and let them know you are in the market for a good property.
Most of the multiunit buildings are sold as pocket listings, and they never end up on the market, also, financing a commercial property is going to be easy, even if you live out of country. Due to the size of the buildings, you can have a property manager or an onsite janitor to take care of the building.
Your local commercial agent with pair you up with a good local lender.
Good luck to you and let me know if you choose Chicago! It might sound as a boring city, compared to your traveling, however is the 6th wealthiest city in the world, so it's a great place to invest!
0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Riley Luettgerodt
Both Oregon and Utah are great markets to invest in RE.. I think you will find some nice properties in the MF sector.. secondary cities in the Willamette valley offer some good value.
At one time I owned personally 350 out of state SFR's so I have a little experience at this :)
And I had a lot of Aussie clients investing with me in the day.. And a lot of them were having troubles cutting through the white noise.. So I wrote a little E book on the Do's and Don'ts of out of state investing.. I make no market recommendations or company recommendations. Just 20 years of owning out of state and all the little things one needs to know and to look out for.. Things your just not going to get from Sales brochures ( which of course only talk about the positive) Happy to send that along you can PM me and will send it right over.
Also Will Bernard one of the most respected posters on BP wrote in a thread the other day can't remember which one.. But he was commenting on its the little things that will kill you in out of state investing he made some pretty neat points as well.
Best of luck to you.. I am here in Lake Oswego myself.
Podcast Guest on Show #222
JLH Capital Partners51 Review
Website View Page
1 Reply
Crystal SmithPro Member
Moderator
Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes
11y
@Riley Luettgerodt One of my business partners has a few million air miles so I get plenty of stories about travels across Europe & investing from a far. Things to do in the next couple of months;
- Research some markets you may want to invest and some places you may want to live.
- Research the BP forums & other sources about the markets - There are multiple & different strategies for each market
- Start interviewing agents, investors, lawyers, turnkey companies, general contractors,... in the markets that interest you
You'll know when it's time to pull the trigger.
312-681-7487
1 Reply
Dmitriy Fomichenko
Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
11y
Welcome to the BP family @Riley Luettgerodt you came to the right place to learn all about real estate investing! Here are some recommendations for you:
Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Wishing you the best!
0 Reply
Riley Luettgerodt
OP
Salt Lake City , UT · Member since 2015 · 7 posts · 1 vote
11y
@Kevin Fletcher Thanks for reaching out. I'm playing in Switzerland this year with the last couple years playing in Spain so it's a bit of an adjustment. I feel the same it can be a tough transition after the playing career is over. I'm 29 right now so the plan would be to get some things going in Real Estate so I can transition into that over the last 2-3 years of playing. Sounds like exactly what you have done and currently doing! We will have to connect at some point, good luck and stay healthy.
0 Reply
Riley Luettgerodt
OP
Salt Lake City , UT · Member since 2015 · 7 posts · 1 vote
11y
@Lumi Ispas Thanks for the warm welcome. Great advice I will defiantly take action with your suggestions. If I ever find anything in Chicago I will let you know!
@Jay Hinrichs Thanks for reaching out. Yes, I would say you defiantly have quite a bit of experience in out of state investing! I would love to read your book. Perfect for the long bus rides to games. Take care.
0 Reply
Riley Luettgerodt
OP
Salt Lake City , UT · Member since 2015 · 7 posts · 1 vote
11y
@Crystal Smith Thanks for the welcome. Thanks for the heads up!
@Dmitriy Fomichenko Thanks for reaching out. This seems like the place to be! Continued success to you.
0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Riley Luettgerodt
send me a PM and will send the book right over... Bus ride you guys don't fly in private jets to the games ??
Podcast Guest on Show #222
JLH Capital Partners51 Review
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0 Reply
Quintin Mortensen
Residential Real Estate Agent · Salt Lake City, UT · Member since 2014 · 71 posts · 19 votes
11y
Hey @Riley Luettgerodt
Welcome to BP, it's so cool that you get to play basketball for a living. I watched some of your videos online and I'm impressed. I wish I would have stuck with sports in high school. I have so many questions (I know this is a real estate forum...)
Anywho, I'm in salt lake, I'm a real estate agent and just started into investing this summer. I'd love to chat ball and Real Estate whenever you're in town. Take care.
0 Reply
Riley Luettgerodt
OP
Salt Lake City , UT · Member since 2015 · 7 posts · 1 vote
11y
@Jay Hinrichs Sadly no private jets to games but it makes it easy to see all of Europe from the bus window! ha. I look forward to reading your book.
@Quintin Mortensen Nice to meet you. I will be in Salt Lake in early May. We will have to connect. Thanks for reaching out.
0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
11y
@Riley Luettgerodt
well you would think you get to at least go on the Bullet trains.. I love those.. that is a great way to get around France
Podcast Guest on Show #222
JLH Capital Partners51 Review
Website View Page
0 Reply

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