All Forum Posts by: Kyle Curtin

@McBilly Sy

Hi McBilly! Thank you so much! I am very passionate about sharing all of the information for others that I find in the journey! And I would love to connect as well! 😁

@Zachary Inman

My pleasure! I am happy to share! And thank you very much Zachary!

@Jake Guthrie

The power of creating those relationships all the time is absolutely crazy!

@Maida S. Garcia

My pleasure! It can be a little intimidating starting out, but I promise it will be a really fun journey and you will learn a lot! The bigger your network, the faster you will grow and do big things! :)

@Axel Ragnarsson

This is amazing advice Axel, I took a few screenshots to keep them in front of me as I progress as an investor. Thank you so much for the awesome value, and I wish you the best of luck!! Keep killing it!!

Your mindset is heavily influenced by who you surround yourself with & take advice from.

Mostly everyone has heard this before, but I want to stress something that affects all of us at one point or another.

This is being discouraged by others when you tell them your vision.

I have realized that you have to be extremely careful with who you tell your vision/dreams to. If you tell it to folks who have already reached a level of mentality or success at which you aspire, they will most likely encourage the crap out of you and egg you on and encourage you to go bigger because they know it’s possible and that you can do it.

Unfortunately, when you try to tell the same thing to someone who you may be extremely close to and potentially even hold a relationship with (ex. friends, family, significant other, etc.) and whom you want to tell everything to but may not be in the same sphere, you may get a drastically different response from them.

You may hear that it is unrealistic, they may be upset or angry with you for thinking so large, etc. and sometimes it can be very discouraging and you question if it is worth trying because you value their opinion.

From what I have personally came across myself, as well as hearing similar stories from others, these people most likely aren’t acting out of a place of negativity or jealously etc. but out of fear for you.

These people that may be very close to you likely aren’t in that business/investing sphere and are scared for you because you are taking a risk in something untraditional that they know very little about and putting money on the line that could potentially be lost.

The thing that is a little hard to understand is that these folks most likely have your best interest at heart and want nothing but what is good for you, but sometimes it is not what you need to hear. There is nothing wrong with them, you are just taking a risk that is not “normal” by society’s standards and doesn’t conform with the normal “40hr/week W2 job until you retire” type of mentality. Not everyone will be open minded to you willingly throwing your hat in the ring to try for bigger things.

I have realized that you can only have conversations about vision and dreams and lots of entrepreneurial “what if?” statements etc. with folks who understand that mentality and will encourage you to keep pushing. You can’t always have them with people who you may really be connected/friendly/love, because even though your relationship may be very strong, they may not understand your mentality and may give you a different kind of opinion and it might discourage you because you care for them and their opinion.

Mindset can be challenging to maintain especially when you are discouraged by the folks who you truly care about. But they do not react out of negative intention, but positive fear for your safety and well being. Not everyone is going to understand what you want to do in the bigger picture.

What do you think about this?

@Jamiez Gaither

Hi Jamiez!,

That is a phenomenal plan! I totally agree with @Brian J Allen ! I highly recommend checking out the Leominster at well, it is roughly 25 minutes from Worcester & bordering Fitchburg.

In my opinion, if possible I highly recommend acquiring a 3 or 4 unit building with an FHA 3.5% down, FHA 203k, MHP One (3% conventional with no pmi for single family or duplexes, 5% conventional with no pmi for 3 & 4 families. It is a first time homebuyer loan with some restrictions, but if you fit the mold it is definitely something to look into), or Mass housing 5% down etc. There are a ton of great low barrier to entry first time homebuyer programs out there, as well as down payment assistance programs from cities if you qualify to be able to get into a deal with a very low amount of capital out of pocket.

For 3&4 unit multi's your lender will be able to use a percentage of the rental income from these properties towards your DTI (debt to income ratio) to give you a higher pre approval and make it easier to be able to take on more leverage for a bigger asset. It is very important that you do not over-leverage yourself and potentially bite off more than you can chew because the mortgage (principle, interest, taxes, & insurance) & utilities will be significantly increased, but at the same time is also decreasing your risk because you have more tenants paying rent & utilities before it hits your pocket if they stop paying/etc.

You are in a great position, especially working towards squaring away your housing expenses for potentially the rest of your life right after college! Good luck!

Kyle

@Helen Lin

Hi Helen!,

Welcome to the forums! Have you considered looking towards central Massachusetts at all (Suburbs of Worcester like Leominster, Fitchburg, Gardner etc.)? The markets out in that area have a lower pricepoint on average then the average multifamily inventory in a Lowell or similar city/town within Middlesex county. Some of these markets are in the process of gradual revitalization and the fair market rents are a little low for the increasing price points, however they have gradually increased over the past few years.

I recently purchased a pretty decent sized 8 bedroom 3 family in North Leominster for 470k with FHA and have been loving it.

If possible with your situation, I highly recommend utilizing an FHA or a FHA 203k loan to take down another multi and still have a reasonable amount of capital for reserves. It may be a little difficult to get FHA offers accepted in the given state of the market, but it is certainly possible and happening all the time! :)

Thank you,

Kyle

Self limiting beliefs.

Self limiting beliefs are a very large barricade to you achieving big things and achieving your vision and then proceeding to blow it out of the water and moving onto the next one.

It is very easy to be frightened by your next goal, and you should be to some degree because it should be bigger than the one that you just completed.

But with that dream typically comes at least a little bit of a mentality of “oh I can’t do that!” or “that’s way too hard, I am not capable of that!”. Most people quit after having these kind of thoughts because they don’t see the light at the end of the tunnel and don’t believe in their vision enough to keep pressing forward and bursting through the barricades.

You don’t want to be one of those people that had a brilliant idea and decided it was too difficult and didn’t even bother trying.

I had a very important conversation at a rei meetup last with with an investor doing absolutely unbelievable things in the real estate sector. I told him about a very ambitious vision I have for this year and he shared a few things that really made me think next level.

He told me that it is nothing shy of incredible how much human beings can actually do. (This is not to sound corny, but 100% seriously.) We can literally do absolutely anything we want (period). Once in a while you have to step back and just look at the bigger picture and be self aware of the environment around you.

We were at a meetup with a bunch of real estate investors and guest speakers and folks with a wide variety of levels of establishment in the investment sphere all learning and changing our lives together. All of this started from one idea in one persons mind and look at how much it has grown since inception and how much it will grow in the future.

This is the type of thing that changes lives. Who you hang around is a big proponent of your mindset and your mentality.

If you have a very large vision for something and try to tell folks who aren’t in that sphere, they may not give you the advice (or boot in the ***) that you need to keep your mindset straight and tell you that you CAN do it. This is not a bad thing so to say, it is just different levels of self limiting beliefs. You need to hear the “right” advice.

It is absolutely life changing when you talk to folks who are in your space and tell them your vision and what you are shooting towards and they are able to genuinely tell you that you can do it and to hit the ground running.

Self limiting beliefs are a killer, don’t let them kill your dreams and vision and hang around the right folks that will egg you on to go get them regardless of how scary they are. You will make progress and reach that level.

All it takes is an idea, belief, and execution to change everything….

@Chris Davidson

Thank you so much! I really like the way he phrased that, that is really interesting!