All Forum Posts by: Kyle Webb

@Brandon Turner Editing would be the hardest and most exhaustive format...Maybe have 2...keep the original Biggerpockets format, finely edited and produced...and one "uncut" version where it has more free flowing thoughts and dialogue. Two options for each listeners preference. Then again, this is free service you are providing to the public. Maybe a PRO account based "Director's Cut" with additional questionnaires or insight that the guest might not have been able to cover in the 60min time frame??

@Kerry Baird I'm curious to hear more! I still feel so new for being able to determine and choose my investing strategy, especially if I am doing it long distance. RAW land has peeked my interest from the BP podcast. Have you fell into investing because of the circumstances of having to transfer base or was this a strategy that you had laid out for the circumstances of possible having to transfer? BTW, I'm not active duty, but thank your husband for his support for our country.

@J. Martin Wow... I can't imagine beginning in the SF/ San Jose region. It seems to be the highest RE market in the country at this time...average Single families selling for $775K... I suppose there are still deals to be had if you have the right marketing skills in place, but what an effort that must be....but what a tough business to break into. Though, I visited SF/ Santa Rosa/ Sebastpol last summer and fell in love.

@Brandon Turner Thank you very much Brandon! I really have enjoyed listening to the past 60 podcasts as they brought me a lot of insight to all scopes of investing strategies. I really wish they were longer though... I wonder if others would too? I enjoy the format of the "famous 4" and "fire round...I find the interlude to topics and unique insights you are able to ask guests invaluable. I can't tell you how many times you or Josh have followed up with a question clarifying for a more detailed or simplified response for the expertise of the guest.... I think your podcast is levelled very well to the listener. Can we every expect a longer format to the podcast? 2-3 hours perhaps? I can dream I suppose.

@John Moore I always see myself using my time on this earth to provide enough for my family to be comfortable... but also being able to use any learned skills/finances to better those around me. I think it can be scaleable and beneficial to everyone else around me that wants to better their community. Nobody strives to live in a depressed neighbourhood. It just takes effort and community involvement, along with an action list in order to progress the community towards a better future.

Thank you everyone for your advice and insight! This is a fantastic community. I'm sorry I didn't reply sooner. Thank you for taking the time out of your day to share your experience and knowledge!

@Michael Do The bootstrap method is exactly what makes sense. After a bit more research and listening to the "Real Dealz" Podcats with Portland Developer, Tucker Merrihew....it seems that if you are flipping and selling more than 5 houses per year in OR, you would legally need to have your CCB.. How that is enforced, seems misguided. A GC license would be a benefit no doubt, but something that is necessary right away.... I'm still undecided. I think it really depends on the formulation of the business plan I develop and how I best allocate my time. Ideally, I see myself wearing the hat of the project manager, not marketing out my services for hire. Discounts at Home Depot or Lowes alone in my first flip might be worth the $2k invest alone. I've got the time to study for it, but in June 2014, OR will update their Contractor's Reference Manual to the 11th edition. I'll wait until then at least for shipping it over internationally.

@Karen Margrave Thank you for your insight! I think, long term goal planning in the REI game is hard to predict. I'm flexible with my skillets and feel I could 'wear many hats' in the process. I think getting both licenses makes a lot of sense. OR might be far easier than CA for getting the GC license. Everything I've seen, it is a demonstration on the safety, codes, liens, etc.,,rather than the skill specific or experience bas. I'm not certain that is all to be required, but it is what seems to be stated on the GOV website. Interesting you mention about being able to work with lenders as a qualified GC on your own project if your property could qualify for the 203k loan. I will have to find out if that is possible in OR. I'm looking for monetary value of course, but also know I am satisfied with completing physical tasks more so than anything else.

@Patrick T. I think investing is my long term strategy, but see myself working RE as a scope of self employment initially. Rehab being something I do for experience and relatively safe gains... but more long term investing projects will come with experience and more capital to eventually be able to passively receive income whilst being automated.

@Zach Schwarzmiller Networking is or course the most valuable! I can only do so much living abroad though. I'm trying to focus of experience in the form of education. Working towards one of the two licenses seems like a sure fire way to work may way towards expertise on either end of the deal. The Buy/Sell/Acquisition/Marketing with my agents licence...or the Work Scope/ Management/Estimations/Liens/ side of the rehab business with a GC license.

@Eric Y. Thanks for you insight! I know that even with a GC license.. I would not necessarily be marketing myself as a GC for hire. The license is simple enough to get in my state with a couple hundred hours of studying (that I would want to know regardless of a license). I just see the majority of my time being on site rather than searching for the next deal. My goal is to double my buy/sell strategy a year. So depending on what loan rates look like in a year from now, I might only buy my first property under FHA regulations (3.5 % down, owner occupied, occupied for 1 year+). While the next year, try and do 2 with conventional loans... build up enough connections or lender support for the 3rd year, when I can flip 4 houses... Agents license would be great for the selling points in each of those deals... but I'm also into the idea of purchasing materials myself and paying subs for labor. In that strategy, a GC discount would be beneficial.

Thank you everyone for you advice and welcome! I'm exited to learn everything I can from other's experience and trials in the RE game.

@Darren Sager Thank you for the advice. I will certainly be keeping up with my keyword updates and consider upgrading to PRO or PLUS member as soon as I feel I can contribute more of my knowledge and experience to others. I love to teach as much as I love to learn...so I see myself trying to give back, when/if possible. Thanks!

@Paul Timmins Thanks for you recommendations! I've already bought and read J. Scott's books. I envision myself similar to his personality. I admire his attentiveness to detail and analytics. He is one of my huge aspirations in RE business. HUD homes are the peek of my interest, especially the cash only offerings. I will be trying to leverage a deal with cash initially. HUD homes are a great place to submit those types of bids for. Much safer than courthouse offerings IMO.

@Mehran K. Thanks for your advice. I'm only in the educational aspect of my research, primarily because I'm overseas. I cannot network in person, nor attend REIAs in my determined area of Portland.I think I have to envsion what I see myself doing with the majority of my time. More and more, I think I see myself hands on as much as possible. I know this is against most advice I get, but initially, I see late nights in my future sanding, measuring, staining, etc.... but it is all too exciting, even if that sounds mundane to others.

@Dmitriy Fomichenko I appreciate your welcoming to the site. Thank you!

I believe it was Tucker Merrihew, of TTM Development who mentioned in the BP podcast (show 22) who mentioned this first. He many have stated that if you are doing more than 5 flips per year, it is a state requirement. I would like to work within the confines of the laws and I can't see myself being completely hands off to the remodelling phase. This is why I seek the GC licensure, especially if it is as easy as it many seem in the state of OR.

Usually workspace $500< is permit required... is that right?

Though, 5 flips per year is not how I think the 1st year's agenda will play out.

Thanks so much for your comment!

Good Day BP Members,

My name is Kyle. I've been a member for a couple years, but I was never the type of person to actually post anything on forum...

Josh and Brandon changed that recently. I've now listened to all 68 (as of March. 10th, 2014) of their podcasts (some of them several times) and always am encouraged from them to make a post to this community and interact, despite being a 'newbie'.

I've posted in the "Getting Started" forum a question I've been pondering and have had great responses and advice from fellow members.

I'm currently into the educational aspect of real estate investing. I'm employed overseas and have saved a decent nest egg that I am looking to use towards attaining a property that brings in passive income or scaleable gains as a fix & flip business in my home state of Oregon. Still trying to determine my ultimate REI focus ...

I'm in my late 20's, married, and thoroughly enjoy racquet sports of any kind (racquetball, tennis, badminton, etc).

I love learning and teaching; I value a strong community development where I can trust my neighbours and friends as if they are family.

I currently have no real estate experience stateside. I'm looking to expand my experience, license and skills in real estate online through BP and other sources. I'm a constant learner and spend my free time listening to BP/other podcasts and reading forums/blogs.

My real estate goals starts with forming a plan to build a scaleable business in rehabbing properties in an effort to make communities better while supporting my family. I want to use my time, sweat and capital to invest in making neighbourhoods safer, desirable and affordable without getting too far ahead of myself or inclinations as a property investor/ rehabber.

I hope that is not too much to say in my intro...

Thanks for taking the time to read this!

First off BP is amazing... I can't believe I just had to ask a question and my inspirational real estate investor role-model would get back to me in a few minutes.... I'm blown away... Thanks you very much... wow.

"I figure it can't hurt"... This is what I was trying to so eloquently say, but couldn't quite say it like this in my first post.

Oregon seems to be in the candy dish side of GC.

Licensure consists of completing a 16 hour course, an 80 question, open book test (with 70% or above as passing), and about $500 when all is said and done. Testing seems to really be concerned with the Construction Business Practices, Safety/ Building Codes aspects, as opposed with trade skills specific information.

Something I could certainly study in advance for.

Thanks again @J Scott

@Eric Blanchard Appreciate your insight. I know more detailed MLS access is invaluable, especially in a seller's market such as PDX. Pocket listings will also be to an investors advantage. The savings at both the purchasing/closings is necessary once the business can be upscaled. Thanks again!

@Corey Davis Ultimately, I see myself spending my days on site, planning to project manage, maintaing my budget and time scale with hiring subs. I like physical projects, using my time as my investment for everything physically possible. This will be initially what I envision.

Though, I ultimately know that most of my time should ultimately be used, like J. Scott mentioned, ON my business, rather than IN my business. That to make it scaleable, searching for the next deal will invaluable.

Being introverted in the sense of not wanting to necessarily get into Wholesaling/Direct mail marketing strategy of finding deals. Bandit signs with my cell number (or even a G+ directed number) on it seems like straight of left field knowing my personally type.

Thanks for your reply and advice!

@Michael Do Great advice! Really just trying to gain as much experience or knowledge ahead of time. I like the idea of perhaps initially partnering with a GC someday. I will certainly be waiting before any decisions are made. I only see myself investing in land, if anything as an absentee owner. I have a wild dream of spec building as a long term goal. TTM Development seems to be doing some great stuff in SE area.

@Elizabeth Colegrove When I think investor, I've always thought as a long term strategy. I assume with Buy and Hold, it makes sense to approach that strategy in certain cases. I'm looking for quicker transactions initially. I'm looking to be able to quit my overseas position to return home and begin making 'investing' work for my primary income. Getting started will be how I learn first what my end goals are, but currently my goals are knowing and preparing as much as I can today to limit my risk in the future. Thanks for your reply!

@Patrick T. Thanks for this advice! I really wanted to hear this from someone with your background. I think being able to "wear any hats" is what I want to be able to have after decades of experience, but I guess it seems that I can't fit which hat to try on first. Or I just want to 'wear all the hats at once'....even though, rationally my brain tells me that would be silly, but in my heart, I think "maybe I could pull this look off". I think, like you, having the insight and lessing my dependencies on others to do something for me is ideally what I am striving for. RE license seems the most approachable task to focus on now. Thank you for your advice to my post!

Thanks again everyone, this community is wonderful and I hope to contribute more to it when my knowledge and experience have more merit!

Holy wow..., J. Scott... this is kinda surreal as I was just reading your book on my subway trip home. I've been really devouring your books and must say it is the one of the best $50 I've spent. Heck, if they were $500, I'd still be praising your thoughts and meticulous detail you put into their creation. Your blog was what led me to BP originally and I've read through countless posts there. I know that " Estimating Rehab Costs" is more or less a reference guide, but I read through it as if was a novel.

Though I also forgot one thing in my original post. This is taken from Oregon's CCB website:

"Oregon law requires anyone who works for compensation in any construction activity involving improvements to real property to be licensed with the Oregon Construction Contractors Board (CCB). This includes roofing, siding, painting, carpentry, concrete, on-site appliance repair, heating and air conditioning, home inspections, tree service, plumbing, electrical, floor covering, manufactured dwelling installations, land development and most other construction and repair services.

A CCB license is also required for:

• those who purchase homes, fix them up themselves and resell them."

This is also why I thought the GC license might be necessary, even if rehabbing is primarily my focus, not necessarily marketing GC services publicly. Is this unique for my state perhaps?

Thank you for your reply and advice! You are a huge inspiration.

This is wonderful advice. I've never quite thought of what the education aspect of getting my license would provide for me; especially at the local level. In Oregon, the classes can be done online, thus it can be done whilst overseas. This allows me to gain actual experience (in credit hours). If I have learned one thing as the core beliefs of BP is that Experience > Education (in the guru class sense).

Thanks again Bill!