All Forum Posts by: James Hamilton

I am about a month in on my REI education - I've been reading a ton of books, listening to podcasts, studying markets...

Curious, how long did it take for you all to pull the trigger and purchase your first investment property? I have been back and forth with SFHs, MFHs, STRs, turnkey properties...at this moment I am focused on small multi-family properties or SFHs that I can use for STRs. 

Here's where I could use some advice. I have $60K liquid that I want to use to fund a down payment, any rehab, and still have some left in reserves. So I am looking at a ceiling of around $225K. Not a whole lot of markets that I have found so far where $225K will break you into the multi-family niche. 

I would also prefer to purchase something local (St Louis) so I can learn the ins and outs of property management - i think that is very important in reducing costs and improving cash flow, at least at the beginning. Although I am not opposed to investing out-of-state if the deal is right. 

I also have a primary residence with approx $60K in equity. Househacking will not be an option at this point. 

What would you do with $60K and a strong desire to get into real estate investing? Need a little help focusing and straightening my path! Thanks to all of you. 

I'm also thinking...would it be unwise to invest in a couple STRs out-of-state? Or should the first property be local? 

Thanks James - issue right now is it will be difficult for me to househack and take advantage of the VA loan. We have a primary residence that we are very happy in. Are there any strategies or tips for using a VA loan that I don't know about possibly?

How did each of you start analyzing your first deals? I'm sure you've told the stories a million times, but it so helpful to hear how others got it going. Thanks in advance!

Hi everyone, I introduced myself to BP last week but wanted to post in the new member forum as well. I'm James from Kentucky but live currently in the St Louis area after 11 years in the USAF. I have caught the real estate investing bug and have set my goal to obtain my first property by June 1st, 2023. My thinking at the moment is to buy and hold a few properties long-term, then work my way into the STR world and possibly BRRRR or flips once I get enough capital. I would like to start out in the St Louis area, but am not opposed to buying turn-key properties out-of-state if I can make it work. Just joined our local REIA here in St Louis and looking forward to the first meetup next Tuesday. Can't wait to start making connections and building a team of trusted colleagues to hopefully be done with my W-2 in three years! May be ambitious but i'm determined and motivated. Thanks to all of you for your knowledge and contributions to making this website an amazing REI tool.

You guys are awesome. What a place for learning real estate investing! 

General questions for the investors out there - do you think it's wise to dip into your retirement nest egg (roth IRA, TSP, 401K) to make the down payment on your first property? I hate thinking about losing a chunk of my retirement savings but it would help me get the ball rolling. What are your thoughts on doing this?

 Well hey looks like I found one right here on BP! 

Agreed! Househacking makes the most sense to me given my current situation. Does anyone have any recommendations for property analysis software or other methods that worked for you? I want to be able to plug in all the numbers based on my criteria to determine if a deal makes sense. 

Thanks all!