All Forum Posts by: Kristin Towle

Thank you, Tom! I just found a great attorney on Friday! So step one is done. Now on to the forms themselves, as well as working with "unconventional" lenders!

Hi! My sisters and I are forming a partnership and buying rental properties. We want to find some private investors to finance the down payments, in the form of loaning money to us at an annual 10% or so rate. 

How do we draw up a contract? Do we use a notary?

And how do they give us the money? Do they write a check for us to put into our partnership's bank account?

How do we assure them that we will be accountable to them for their money and that we will accomplish our goals even though we are newbies?

If you can advise me on specific concrete steps to take and forms to use, I would greatly appreciate it! Thank you!

I have the same question, Brandon!

Hi Everyone! I am a newbie looking to hit the ground running! I have been researching real estate investing with the help of Bigger Pockets for about 6 weeks now. I am so excited about the opportunities that real estate offers!

I have five young children, and I am an adjunct professor. My husband works from home, which is awesome! We recently added a dog to our family. So we are super busy, but I am ready to get on the road to financial freedom!

I am interested in pursuing the BRRRR strategy on our way to becoming financially free. I have been scouring my area of the Twin Cities, MN, which is really hot right now! Maybe too hot for us: I don't know that we have the finances to invest in our backyard first.

So I began looking at my hometown where I grew up yesterday, and the prices are so much better for us! But this town is about an hour and 15 minutes from the Twin Cities. It has about 26,000 people living there. One draw is the large insurance company there, which brings in new employees and their families. The other draw is Cabela's, which has led to a boom in shopping areas.

I also began looking in the Belleville area of Illinois, where my husband and I used to live: some really nice small towns there that are close to Saint Louis, MO. The prices are better in these small towns too.

Two questions: 

1. What positives and negatives have other people found while pursuing the BRRRR strategy in small towns?

2. What difficulties could a newbie encounter while trying to invest in a distant market?