All Forum Posts by: Doug Spence

@Scott E. If folks are buying real estate for the long term (which they should be) then a decrease in home price in the short term doesn't really matter! Their home value will gradually go up over time, but their interest rate won't. 

@Dezmon Jackson Start going to local meetups and talking to folks who are already doing what you want to do! My buddy Johnny Lynum does multifamily as well and has helped a lot of folks add units to their portfolio. Happy to connect y'all if you want. 

Good luck!

@Craig Cecin Welcome to BP! I'm also active duty Navy stationed in San Diego, and I can assure you it is possible to invest here using a VA loan. My wife and I are house hacking here and its been fantastic.

That being said, most of my real estate portfolio is NOT in California because of how expensive it is and the landlord/tenant laws. I own in Wisconsin, Florida, and Oklahoma, and I'm a limited partner in syndications in other states as well. My out of state BRRRR's and flips have been in Oklahoma (I'm a big fan of the OKC and Tulsa markets!)

You'll be successful investing in any of those markets you listed, but you need to be crystal clear about your long term vision and goals. Also consider where you have a competitive advantage. The answer to those questions will help you narrow down the markets to one that fits you. 

Since you're in the SD area, we're doing a military real estate meetup tomorrow (Friday). Its all active duty and veterans who do real estate. You should come out. 

Good luck!

@Dustin Taylor Talk to @Erik Browning!

@Dennis Adams Time to hire a property manager. Let them do the screening (they won't violate any federal housing regulations if they're good), and if it ever comes to an eviction, let them be the bad guy!

Good luck and let us know what you decide to do. 

@Patricia Andriolo-Bull Make sure you factor in the rapidly rising insurance costs!

@TJ Woolum Gobundance has around 900 people, and the other one (War Room) has about 200 people. Gobundance has "microtribes" people can join that have different topics, like multifamily, STR, fatherhood, buying businesses, etc. so people can connect with others that have shared goals.

I'm also in a 5 person group within gobundance called a 'gopod' and we meet weekly. We're also doing our second annual gopod trip later this year. The War room has something similar called a 'squad'. We also meet weekly to discuss our wins, challenges, etc. 

Hopefully that helps!

@TJ Woolum Wow what a great question. I feel your pain when it comes to the high cash flow, but low appreciation and potentially high maintenance properties. I own three in Milwaukee and they are my problem children for sure. 

I'm starting to lean towards buying B or better properties, which don't cash flow as well in the beginning, but will have better long term appreciation and attract better tenants. 

Regarding the masterminds, I'm in two and they have been hugely impactful for my growth, both as an individual and my real estate/business growth. 

One is focused on real estate and its all military folks and vets (I'm active duty Navy) and the other one is focused on being well rounded, while also building wealth and passive income. That one is called Gobundance. 

Hope that helps. Good luck!

@Beryl Colbert Great! If you do decide to sell, one of my good friends is an agent in St. Pete. Happy to connect you with him. 

@Jack S. Its a common goal indeed! My profile has an overview of the properties I've acquired, including the strategy and location. Let me know if you want to discuss further - I'm happy to help however I can. 

Good luck!