All Forum Posts by: Robert Kirkley

@Ali Boone Thank you for sharing that article!  I have read over it before, but it didn't hurt to look it over again.  My goal is to build a rental portfolio, but my main issue is raising the capital right now.  I am starting my savings now, so hopefully I will be able to make some moves soon.  In the mean time, I will be researching as much as possible!

@Raymond J. Rodrigues Thank you for the info! I was thinking of using an FHA loan to start things off. My only concern would be the PMI, but I am sure if I run the numbers, I should account for that as well? I was also wondering if it would be necessary to get a 203K loan if the property needs some improvement?

@Jerryll Noorden I appreciate your response!  IT seems to be very true that at a certain point, it is imperative for the "student" to make a move and believe that it will work out.  As you had said, the first move is incredibly important however, so in the mean time while I gain capital, I will do my best to research what the best first step for my case should be.  I have done a lot of research on wholesaling and know some people who wholesale, so I will continue to learn more about that as time goes on.  The first step will b e the hardest, but I am sure that after I make a move, I will feel more confident in my capabilities and hopefully (fingers crossed) continue to make smart decisions.

I know what you mean when you said the more research you did, the less confident you got.  It's funny how they can have an indirect relationship to one another, but I know there is an incredible amount of support on BP, so I hope that if the time comes when I need some help, the community here will offer it.  I have seen you respond to many posts and just wanted to say thank you for your help! 

@Arlen Chou I appreciate your response and honesty! I agree with you that it would take a lot of work to conduct a flip with a partner, which would keep me from honing in on the buy and hold strategy. For my first investment, I do plan to house-hack a small multifamily property in hopes to start building my portfolio while getting the benefits of living there for cheap and gaining hands on experience of being a landlord. I will have to consider doing a single family house-hack however. In that case, would it lean towards to the side of being a BRRRR investment? And would you recommend starting with a SFR or MFR while house-hacking?

Again, I really appreciate your advice.  I am very inexperienced, but I am definitely looking forward to the education I will receive both from BP and when I can actually start investing.  I have always enjoyed playing the long-term game, so this is just another business model I can be passionate about.  It has always bothered me when close family and friends of mine have said "I wish I had...", so I am making it my goal to do whatever I can to be able to look back and say "I'm glad I did..".

Hey there,

Currently, as I make my goals and work towards completing my actionable steps, I am trying to find the best strategy for me to complete in order to start purchasing buy and hold properties. Like many others, I have a very minimal amount of capital which I am working on growing currently. I have a few part-time jobs, but I am looking for a full-time position to help the process of gaining capital. As I am researching more into REI, I was wondering if it would be a smart idea to look for deals that I could offer to a flipper and assist them in completing the project while splitting the profits to gain capital for a rental property, or if I should continue setting my sights on raising capital with a job and focus my attention on becoming good at finding rental property deals?

I know there are thousands of ways to make money in REI, but as for which strategy I should implement, I am curious as to what advice you could offer. I do not want to invest with the amount of capital I have currently, so whichever move I decide to make, it will be after I have acquired a larger amount of reserves. Thank you for your help in advance!

Hello everyone,

I am doing some research on potential portfolio lenders in the Central Florida area and was wondering if anyone would recommend one?  My goal is to start a buy and hold portfolio, preferably with a house-hack in a small multifamily first.  I know it is important to have the relationship built with a lender before I find a deal, so any advice on searching for one would be greatly appreciated!

@Tina Verstrate I will try to make it out to the Seminole County meetings, thanks for letting me know about that!  I will also put the CFRI meeting on my schedule, I would be glad to say hi!  When I had gone to those meetings it had seemed like an incredible source of information, I just hope to get better at networking at those events, haha.

@Tina Verstrate I plan on doing my house hack after I have gained more capital and build a team around me so to speak.  I haven't done much research on local contractors or repair costs yet, so that is on my to-do list.  Once I get a relationship built with a CPA and a few more investors, I feel that it will be easier for me to make my first step in that direction.  I have gone to the CFRI meetings a couple of times and I am in the Central Florida Real Estate Investment Hub on GroupMe, but I have not joined any other clubs yet.  Looking to make it to more meetings/clubs, but my work schedule makes it difficult sometimes.  Are you in any of the investor clubs?  And that is interesting about Oviedo, though it doesn't surprise me!  I have been looking into the Mt. Dora/Eustis area as well.

@Basit Siddiqi Thank you!  You are correct in determining I am wanting to complete a house hack for my first investment.  I will definitely start looking for out of the area CPA's as well as local ones.  I know I have a lot to learn from them so I need to start communicating with one as soon as possible.

@Tina Verstrate Thank you for the recommendation!  Good to see another local investor.  I like the Oviedo area and am thinking of looking there for future investment properties.  Have you found many buy and holds in that area?