All Forum Posts by: Kyle Mast

Name:  Kyle Mast

Expertise:  CFP, financial planning with real estate ,and early financial independence focus (retired from this, not taking on clients).

Looking forward to:  Connecting with podcast listeners, fellow early financial independence and real estate enthusiasts.

See y'all in Cancun!

Hey Zac, Kyle Mast here from the BP Podcasts. Shoot me a PM. I started in financial planning at 24, started my own firm at 26, got my CFP at 27, sold my firm at 37, while building up real estate along the way. Still maintain my CFP designation while spending tons of time with the young fam these days and managing our investments. I’m up for a phone chat if you are. Lots of different routes you can go in the cfp career but it’s a phenomenal one for flexibility, income, and helping people. 

Great to see you here too @Daniel Johnson!  Let's be sure to get a coffee at the next BPCon!

Kyle Mast, CFP here.  I sold my firm a couple years ago so my input here comes without any bias.  I just keep my credential cuz I love this stuff. :)

Check out episode 41 of the BiggerPockets Money podcast where I discuss this in detail: https://www.biggerpockets.com/blog/biggerpockets-money-podca...

First, the CFP credential is the baseline you should look for.  I would also suggest a "fee-only" CFP, which means they are compensated by charging you transparent fees and they do not receive commissions for selling investment products or vehicles.

Second, I would specifically ask any CFP you interview whether or not they PERSONALLY own real estate and what kind.  You want to find one that is as close to your own investment strategy as possible.

Third, although a bank may have someone who is a CFP, it doesn't mean they have the experience you need.  CFPs that work for large banking institutions are nearly never "fee-only" which is what you want.

It can be hard to find a good CFP that is a fit for you but it is definitely worth the search and cost as they will likey save you tens if not hundreds of thousands of dollars over your investing career by helping you implement the correct financial planning.

I've mentioned it often on the BP Money Podcast but I would definitely suggest using the XY Planning Network in your search.  It is an CFP industry trade group of "fee-only" CFPs.  You can use their "Find an Advisor" tool to specifically look for a CFP that specializes in your situation (e.g real estate).

I'm happy to answer any other CFP search questions you have!

Best of luck!  

@Lauren Olson, this is a great question to be asking.  We live between Portland and Salem and have been investing in Oregon for the past 5 years and have several rentals in the area.  However, personally we have made the choice to no longer invest in Oregon due to the attitude of the laws toward landlords, even ones that do a great job taking care of their tenants and their properties.  Oregon also has some unfavorable 1031 exchange tax clawback provisions if you ever want to 1031 exchange to a property out of state in the future. For those reasons, and to diversify with greater cash flow we are branching into other markets (Ohio has been our first) and will be selling one or two of our Salem properties this Spring to deploy the cash elsewhere.  

Getting started with a house hack locally is a great way to get started for sure.  But really, as was said above, your property management team is the backbone of your business wherever you are in the long run.  If you plan to go out of state be sure to spend the time interviewing the teams you will be working with.

Best of luck to you!

Benjamin, I would recommend Marie Hoskins as an agent.  She is based out of Portland but has several rentals of her own in Salem and has helped us purchase a couple.  She knows the investing landscape in Salem, OR very well.  She also knows of a couple of duplexes that we own and will be listing in March if you are interested in her showing them to you.  Just let her know that Kyle Mast sent you.  https://www.zillow.com/profile/Marie-Hoskins/

For a lender, I would highly recommend Harris Piccoult.  He has also helped us to purchase several properties and his communication and knowledge are the best I have found in a lender.  https://www.summit-mortgage.com/loan-officer/harris-picoult/

Kyle Mast

BiggerPockets Money Show Guest, Episodes 41 and 84

I had a good experience with Jose Marionado at Ramses Remodeling and Construction (can just google them).  He and his crew were referred to me by another investor.  We were replacing the dishwasher in a duplex we had just bought and found a ton of mold behind it going all along the wall and into the next room.  Had to replace a couple cabinets, vanity, new insulation, sheetrock, etc.

We wanted to get a tenant in as quickly as possible to get the cash flowing.  He was super fast (I think it was all done in less than a week), reasonably priced (not the cheapest, but not too expensive either), and communicated through the whole process really well.  I've only used him once at this point but he will definitely be my go-to next time.  I'm not sure of all the types of work he does, so that may depend on what you are looking for.

Kyle Mast, CFP(r)