All Forum Posts by: Zach Lemaster

@Nick Benedick

Thanks for the interest with our team!

You bring up an interesting point about the "entrepreneurial spirit" around REI. In my opinion, the best thing you can do when building any business (including a real estate portfolio) is learn how to work ON your business, not IN your business. This means to focus your time in the areas that have the greatest value & impact such as how to scale your portfolio vs working in the weeds on things like property management, repairs, rent collection, etc. Your time is most valuable learning how to build a scalable business model, if that is what you want to do ultimately. All the successful investors on BP (myself included) have teams doing work for them to find, acquire & manage properties. That is how they create scalable businesses well beyond just owning a few rental properties.

A great book to read that explains this is The Entrepreneurial Myth (The E-Myth) by Michael Gerber.  Definitely recommend this to anyone in business or real estate as it explains the ideas of focusing on your business and not in your business.

All this being said, there is absolutely nothing wrong with acquiring your rentals on your own.  Rent To Retirement just tries to make that process easier for you to expedite your success & scalability.  We do this by allowing you to immediately tap into our teams/systems we already have in place in some of the best US markets while providing mentorship on how to effectively scale a portfolio.

Thanks for letting me throw my hat in the ring on the topic.

Of course, reach out anytime with any questions.

Here are some additional links to other threads where people are talking about topics like out of state investing, TK, Rent To Retirement, etc.

Best of luck to you!

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/92/topics/1116050-a-huge-win-with-cori-from-rent-to-retirement

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-fl

https://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?

https://www.biggerpockets.com/forums/92/topics/1162779-rent-to-retirement-academy-experience?highlight_post=6630770&page=1highlight_post=5677176&page=1#p5677176

https://www.biggerpockets.com/forums/12/topics/1122318-quality-turnkey-companies?highlight_post=6413855&page=1

https://www.biggerpockets.com/co/RentToRetirement

@Colleen Weaver

Thanks for the interest in this loan product. We are happy to provide you contact information for the credits unions that offer this product. This is not a Freddie/Frannie product. This is a portfolio loan offered by local credit unions where you can buy up to 5 pure investment properties with as little as 5% down if you qualify, which you do have to qualify still with DTI, credit, reserve requirements, etc.

There are different credit union options that would be best to connect with based on where you are investing and your situation, so that is why it's important to connect with our team to guide you on the right path on where to apply so you are not wasting your time and having multiple unnecessary credit pulls. Just send your RTR rep a message and we'll get you on the right track.

This is an excellent loan option that will allow investors to scale quickly and maximize tax benefits!!

@Havan Surat Thanks for the interest in this loan product. We are happy to provide you contact information for the credits unions that offer this product. This is not a Freddie/Frannie product. This is a portfolio loan offered by local credit unions where you can buy up to 5 pure investment properties with as little as 5% down if you qualify, which you do have to qualify still with DTI, credit, reserve requirements, etc.

There are different credit union options that would be best to connect with based on where you are investing and your situation, so that is why it's important to connect with our team to guide you on the right path on where to apply so you are not wasting your time and having multiple unnecessary credit pulls.  Just send your RTR rep a message and we'll get you on the right track.

This is an excellent loan option that will allow investors to scale quickly and maximize tax benefits!!

@Gwen Stauffer

Congrats Gwen!  Thanks for sharing your experience.

DSCR loans can be tricky to navigate. I'm excited that you were able to use that to accomplish your goals!

@James N Beliak

Welcome!  This topic can be very specific to each person's situation.  I personally recommend speaking with a CPA that specializes in Canadians investing in the US and how to best prepare your investing strategy along with understanding what taxes would look like for your specific situation.  I would be very cautious to take general advice on this topic as many people may make assumptions without fully understanding your situation, goals and the international tax scenario.  We work with many Canadian investors and have some good CPA recommendations for you should you need them.  My wife is Canadian (from Alberta). 

The best part of investing in the US is the ability to write off the majority (if not all) of your tax liability on rental properties if you have the right strategy.  Just my humble, non-cpa opinion!  ; )

Here to help however we can!

Some additional references:

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/92/topics/1116050-a-huge-win-with-cori-from-rent-to-retirement

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

@Savannah Walbert

I personally like the SE with new construction below $300K that still cash flows well AND appreciates in both rents and market value.  

We are very active in Huntsville, AL (and surrounding areas), SWFL, San Antonio, along with other locations in the SE with BTR properties.  Definitely worth a look!

Hope this helps!

@Zach Strong

Welcome!  Your team is essential to success long term.  Each person is in a different stage of their investing career depending on your experience level, goals, resources, time, capital, etc.

Can you clarify more what your goals are so we can be more specific with recommendations?  Are you looking to learn, raise money/find deal partners, or just looking to get into that first investment property that you plan on financing yourself?

Generally speaking, I think having a quality agent/broker is essential, but make sure they are an experienced investor themself. I also think having the right lender and property manager are very essential as well regardless of market. As you grow your portfolio, I recommending finding a real estate savvy CPA/tax strategist, attorney or LLC specialist.

Early on, finding a quality mentor or expert in the niche of investing you are looking to do is probably the most important person to connect with early on that could likely help you piece together or recommend all the other professionals mentioned above!

-Best of luck!

@Jonathan J.

Happy to help.

Reach out anytime with questions.

Best of luck to you in your investing endeavors!

@Abram Hill

Welcome to BP! Congrats on taking the first step towards reaching your investment goals.

@Steve K. did an exceptional job of outlining key first steps to take.

There is so much to learn on BP that many new investors often get the shiny object syndrome and try to focus on too much to begin with.

My advice to you is to build out your own very specific goals & strategy, and then simply take action on that one specific strategy to acquire your first investment property with whatever strategy you choose. The best learning comes from actually doing! As you become a more experienced investors, you can certainly go on to learn multiple different ways to expand your portfolio. It's best to choose something and go with it in the beginning. As Brandon always like to say, it's important that you choose, rather than what you choose to get started. That doesn't mean randomly invest without research. It simply means to take action & stick with it. Getting started is key in the beginning, but consistency over time is what builds wealth!

Hope this helps!

Best of luck to you Sir!

@Jonathan J.

Welcome!

Great questions to start asking.

Short advice from me on a few topics:

You are already in the right place for education.  My advice is to start applying that knowledge by taking action.  I am a firm believer that you truly learn by doing.  That doesn't mean invest foolishly.  Choose a strategy & proceed with it.  Try to really excel at that strategy before getting distracted by the next shiny object syndrome.  If you follow Brandon, he always stated, It's more important that you choose vs what you choose!  That is another way for saying to make up your mind and take action. I highly recommend starting with residential real estate. Either SFRs or small MF in good areas! Maybe house hacking! SFR or a duplex offers very predictable returns and has the best financing options available. If your local market is too expensive, don't be afraid to venture out of state. There are plenty of excellent markets out there.

To build a team, start with your core necessary people (lender, broker, property manager).  You will find many recommendations on here.  You can expand your team over time as you grow (CPA, attorney, etc.).

To find a mentor, don't barrage them with questions like everyone else does.  Go work for them for free and add value to them before asking any questions.  That, or join a niche community that fits your interests.

Another book recommendation: The Millionaire Real Estate Investor by Gary Keller.

Hope some of this helps.

Best of luck to you!  ; )