All Forum Posts by: Hunter Gillon

@Matt Turner I'm guessing if you work in automotive engineering in Bowling Green you have something to do with beautiful new Corvette! Want to give me one? I'm sure you never get asked that...

I'm new to real estate as well. I'm in the military out west but have a lot of connections back in BG. Best of luck!

Hi all! I am new to real estate investing and still trying to learn when something I'm looking at is a deal or not. The latest property I've found is 320 acres of tax delinquent land in a neighboring county of New Mexico going to auction. I'm making sure there isn't any liens on the property, but as it stands I believe I can purchase the property for a few hundred dollars. The biggest drawbacks I see are:

1. The property is landlocked. It is surrounded by ranches and 3 sides and the railroad on the 4th. I understand there would be the possibility to get an easement to access the land however I'm not too sure of the feasibility of this. I do believe that there is an access road besides the railroad. Does anyone know the legality of using that road to access the property?

2. I'm unsure how I would turn a profit with property. From reading the forums I found that a popular strategy for landlocked land is selling to the neighbors. However it is my current understanding that there are no fences surrounding the property and the neighbors already let their cattle feed on the property. I've also thought about leasing hunting rights to the property but simply don't know enough about the idea to fully commit to it. Does anyone have any idea how I could find out more about it? Finally I also have thought about simply attempting to land bank the property as it is so much land for so little, but that's more speculation and I'm disinclined to invest in that.

3. Finally, I just don't know much about buying land at auction. Any advice you could offer on the subject would be greatly appreciated. I'd also be interested in any advice you could offer on potentially managing/selling the land from afar as I'm military and may potentially be moving in the upcoming year. Thanks for any advice you can offer!

@David Pere Thanks David. How is your long distance flip going? How did you get started with it?

@Michael Wagner I'll make sure to check it out. Thanks Mike!

@Sam Shueh Thanks for the advice! We'll keep that in mind when seeking financing.

I am currently trying to do my first deal. I have found a property for auction in Colorado that I am interested in working as an investment. I believe I will be able to win the auction for between $60k - $75k. After evaluating the area and the property I believe the ARV to be in the $175k-$210k range. The main issues I see with trying to work the deal are:

1) Raising Capital -- My potential business partner and I do not have the capital to buy the property outright with cash. We are considering either bringing in additional partners/investors or financing through a bank. The way we see it we carry a higher possible profit margin if we finance through a bank but also carry more risk. If we bring in additional investors we should be able to share the risk but would be sacrificing potential profit. Anything I'm missing?

2) The property is in a rural part of Colorado in the foothills of the Rockies. It seems most the properties in the area or either vacation cabins or retirement homes going for anywhere from $250k-350k. The property in looking to purchase is government owned and was utilized by the USDA's rural development program. I don't know what the necessary market would be for this type of property in the area, however it sits on 5 acres so it is about the same size as the larger tracts of land in the area. Does anyone have any wisdom they can share about investing in a similar situation?

3) Finally, I can't tell if this is too large of a project for a first time investor. The math seems to work out well and it seems like I may be missing something. Any overall advise would be greatly appreciated!

Thanks for the help!

Thanks for making this awesome community! I have been reading posts and listening to the podcast for a few months now and figured it was finally time to introduce myself.

I'm currently active duty military and I am looking to build my portfolio so I'm not dependant on military pay. I'm interested in both passive income and also some active investing as well.

If anyone has any advice on flipping from a distance I'd be very interested to hear it! It's definitely hard to choose a market when you know you'll be moving around the country. Additionally, does anyone have advice on getting into the self storage business?

Thanks for any and all advice you all offer. I look forward to hearing from everyone!