My name is Nephi Carter (knee-phi), and I live in Eastern Idaho, specifically Idaho Falls. I may look 18, but I turned 25 this past June. I have a beautiful wife named Kendra, and I am currently in the 1-148th Field Artillery here.
Growing up I helped various subcontractors in remodeling basements and bathrooms and have done other construction tasks.
I am looking to build passive income through buy and hold investing, but I have limited funds and knowledge of the politics of real estate. I've been studying up and listening to the podcasts to learn more, and am wanting to jump in to get life experience.
VA loan and house hack a fourplex -
@Nephi Vaughn Carter Congrats and glad you are here in BP! An excellent way to learn about real estate is buying and selling undeveloped land. Incredible returns, no rehab needed, and you can buy/sell all over the country. Great way to learn how to create and close deals - and any budget can work. Hope this helps!
@Nephi Vaughn Carter Welcome to BP! You're in the right place to learn it all. There are a ton of military investors on here. You should reach out to some. Y'all have a lot of advantages. Good luck!
@Nephi Vaughn Carter Everything that has been mentioned above it good advice. I'm in your market, if you want to meet up sometime I'd be glad to offer any knowledge I've picked up along the way. But as you mentioned, taking in the podcasts, webinars, forums, and reading books will get you set up with enough knowledge to not be too scared, it is still scary buying your first property but gets much easier after that. You just have to have enough drive to get over the fear and when you find something that makes sense using the BP calculators, then just go for it and make it happen. As mentioned, with limited funds and still being young, your best bet is probably doing a house hack, especially since you know something about remodeling, you can slowly improve it while you are there and then in a year or so move out to buy something else. The rent that the other units bring in will count toward your income to help you qualify for more loans too. It is the best way to get started, especially when you are young. A bit too late for me when I got started to go that route. Take advantage of it while time is on your side.
Welcome to BP @Nephi Vaughn Carter ! You definitely come to the right place, please reach out if you have any questions!
Oh, yes, you could get a va loan! If someone had told my that when I was a kid, I might have joined up! A duplex (or bigger) would be really good, although, I know all about living next door to your tenants, and its not always fun at all, but it gets you a leg in. We'd be interested in investing in ID, as the tricities area is getting really expensive. Keep us posted on what you do!
I know this post is a bit aged but I wanted to chime in and see if anyone was still focused on Idaho in here. I am a realtor in Southeast Idaho and would be more than happy to help anyone here find that investment property they are looking for. Nephi, Idahos markets have been good to me and my family, everyone on here has given great advice. if you aren't working with someone already, reach out and lets Find you some Deals
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