All Forum Posts by: Corey Stubbs

@Alyssa McEwan,

Nice to meet you! I have been in great falls for just over 16 years now and about twelve of those years I've been in something to do with real estate. I've been in property management, construction, handyman, flooring, commercial and residential roofing and in the last three years actively investing in Great Falls. You name it I've just about done it for a home to some capacity. I am looking to renew my independent contracting and property management licenses after I've completed my current BRRRR project. Hopefully more people spring up on this post and maybe we will throw together a soiree downtown. Again, nice to meet you!

Hello BP Members of Great Falls, Montana,

I love to network.  I love to hear people's stories.  But I don't like reaching out to profiles on BP that don't actively get used.  I just wanted to see who in Great Falls, MT, uses BP regularly?  I am the kind of guy that just likes to meet up and have a brew in person from time to time.  I've been seeing people flirt with the words "BiggerPockets Meet-Up" and would love to see that happen if even on an unofficial capacity.  

Who's really here? 

@Stephen Fryer, LOL too true

Hi @Lutcien Sebert,

Here's you best startup lead generation, it costs nothing more than a cup of coffee from time to time.  Word of mouth.  Let everyone in your local area know what you're looking for and more often than not you end up with leads.  A lot of them will be crap leads, but those crap leads VERY OFTEN lead towards good leads if you ask the right questions.  Find some folks in your area that have gone down the real estate path already and have a sit down with them.  The more you talk about your interests the more practiced you are at sharing it in a quick snip-it so people are interested in learning more about you and how they can help.  

Get in touch with a real estate agent in your area and they will do a market analysis on your home.  The market analysis will provide you with a ballpark number to expect for your home.  You don't need to commit to anything using an agent in this way, this just provides you with information you need to decide if selling is right for you.  Hope this helped!

Hi @Jacob Sheets,

Interesting idea, I never thought of personalizing gifts for partners, I just thought my giving them money would make them happy. :)  In all seriousness though I think I will think on this more for sure.  

I do however try and gift the people that had touched my project in someway, be it in advertising on who did the work on a project when I do an open house, or a small gift basket to my title companies, or thank you card and gift card to a brewery/eatery to my real estate agent.  All of which don't really cost alot but make the people feel good for working with you.  All of my people I use leap up as soon as I come in the room and drop what they are doing cause they are emotionally more invested in me then their other projects.  Just a thought and good job/good luck on your first project!

Interesting, Canada recognizes LP's but not LLC's as pass thru's? I love this website. So many helpful peeps.

Hi @Anthony W.,

First of all, thank you for your service!  It's encouraging to see fellow service members make it to retirement, and that it's not too lofty or much further out of reach.  I've got 12 years in currently and it sometimes feels like retirement is still soooo far away.

Texas. I don't live in Texas but have always looked for opportunity to do projects there due to it's stability in markets. I don't know about you but when I think Texas I think military state. Being in the service as long as you have you've probably been down to a number of bases from different components all in that area. You've got Fort Hood, Lackland AFB, JBSA Randolph/Randolph AFB, Ellington Field, among many other major military and DOD presences that offer a continuing in-flux of people needing places to stay. San Antonio was getting expensive until they made an outer ring surround a nucleus and it looks like it might do another round of it, that leveled it out and made everything good again. Last time I was there they were working on a huge new tram system that was going to hook people up in the entire city with access to cross-city travel and jobs. Houston is another good choice since it is structured almost the exact same way as San Antonio. There's Temple, which if San Antonio or Houston are too big city for you Temple still offers a lot of the same things in a smaller package. In those areas alone, from what I see you can do well getting into any REI focus but I know I was going to focus in rentals and BRRRR's down there myself. The only hang-up I saw was vetting a good set of contractors is harder than most states, easily overcome but an extra step to be sure.

An interesting thing to consider too, I wanted to watch my little brother graduate from basic training in Lackland AFB and also check out the RE game down there.  While looking for a place to stay for the week I noticed a number of AirBnB's that catered to people wanting to attend Air Force graduations.  I always get a mildly raised red flag seeing military families singled out that easily but as I dug deeper they were almost all of them prior service folks wanting to provide another type of service to their country.  I will definitely be using this gentleman's AirBnB again.  With graduations happening all year long might be something worth looking into.

May not have helped, but that's outsider perspective chomping at the bit to invest in that area.  Good luck!

@Robert Koulefianou Listen to this guy, @Bob Norton.  I couldn't think of the name of it, but he's on point with the quit claim deed.  Thank Bob!

@Chris Gomes in your case, you sound like you may be in a scenario like mine where you have a live-in house hack idea that evolves into a BRRRR. The biggest thing I can say is look at all the possible earning scenarios for the property and decide if it fits what you want and can afford.

My most recent property I did just that and ran a quick spreadsheet to show me what I would get if I flipped the home and sold it, or bought and rehabbed to rent it out, or BRRRR strategy with varying equity pullouts (Different banks will let you pull different numbers of equity out of your homes). Here's a picture of the project spreadsheet I'm working right now. All the options I have out there are all showing green showing all options are cash-flowing options, I just needed to decide what one is best for me.

You'll note that I do not having carrying costs for while I'm flipping this project.  Reason for that is I do not count that in my earnings for this property because I'm living in it.  No matter what someone has to live somewhere and in fact, by my living here I'm saving myself an additional $500 a month, so like I say, I don't count this projects current carrying costs in the equation.  If anything I'm counting how much I'm saving.