All Forum Posts by: Greg Foley

Thank you @Steve Babiak!  I'm brand new to BP and getting educated about the various strategies for getting started.  Many thanks for putting together the resources in your original post!

Welcome @Dionis Dvorin!

@Adrián Nemec welcome to BP!  I'm pretty new myself, and also feel a bit overwhelmed at the moment, but mostly excited.  As far as the legal entity you should use for your business, there's no one correct answer.

There are many things to consider, such as liability, tax treatment, and recordkeeping compliance requirements for each type of entity.  Your best bet is to consult with a lawyer in your state (and perhaps in the state you're going to operate in if you're going to be investing out-of-state) to help you work through the options and find what will best meet your objectives.

I wish you the best of luck in your journey!

Thank you @Ned Carey!  I appreciate your encouragement.

@Karim E. I just dove into the Tucson market with a funky MFR that will take some creativity to make work. It probably isn't the best deal in the world, but I believe there's decent upside. It was just time to make something happen!  We relocated to the Bay Area in 2016 after 13 years in the Old Pueblo.  The cost of housing here led us back to the more affordable (and still fairly familiar) Tucson market to start our RE investing journey.  From what I understand, there are some good things happening at the southern end of town, but I'll defer to the local experts as far as that goes

@Ivan Dodic congratulations on the MFR deals...something to aspire to!

@Elan Spreiser I'll be in Tucson from 2/2 - 2/10, and would love to touch base with you while I'm there.

This is timely @Patrick Allen!  I am a former Tucson resident now living in NorCal.  We just purchased a rental property in Tucson sight unseen and will be in town all next week to get the lay of the land (and do some maintenance/repairs I suppose).  I hope to meet you at the AZREIA Meetup!

@John Whittington my story is similar, down to the Bay area location.  I actually went one step farther and spent a small fortune on a Kiyosaki seminar back in 2004.  It was a great experience, but I let life get in the way of taking action, much to my current regret.  No more waiting!

Just closed on our first SFH deal (out-of-state) and know that it will build momentum and experience toward bigger things. Would love to touch base with you some time. Welcome!

Thank you @Josh R. for sharing your back story and insights!  Having virtually no experience in real estate investing, you've shown me that I can add value in ways that can create opportunity for everyone.  Congratulations on the monster first deal!

@Alex Kamunyo I really appreciate you sharing this story! The lessons learned are invaluable for newbies like me, and the "two exit strategies" point you made is pushing me more and more toward focusing on the BRRRR strategy as I move forward. Now I just need to find the right market for me! Congrats!

@Daniel Krantz Wow that's fantastic! I just did my first deal out of state (B&H), which isn't a BRRRR, but this strategy is absolutely fascinating to me. I applaud your patience and planning, and hope to accomplish similar results not too far down the road. Thanks for sharing your story!