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Updated over 4 years ago, 07/04/2020
[URGENT] New Hungry Investor Needing Assistance
Hey Fellow BPs,
I am new to the RE investing world. I am a USMC Vet, who now works for a large corporation. I was born, raised, and still live in the great state of Washington. I have a sizable amount of equity in my house; however, I’ve saved up six figures that I am ready to use to plant some seeds. However, as many know, Washington has become very pricey, so I wanted to look abroad! I almost bought a property in Belize, then I convinced myself not too. I’ve wanted to get more involved with RE for the past few years, but always made a excuses not too...
I just got done with both of David's books (BRRRR and Long Distance)- which were LIFE CHANGING. One thing I am still seeking is a visual blueprint to run off of. I am still in the process of deconstructing David's books and developing a visual info graphic that outlines his books in a visual form ( I will post it once I am done!)
With this, I know a savvy investor will not willingly share the secret sauce; although, I am still searching for the first steps.
With this...
1- what are the implications, benefits of forming a LLC? when should this be created?
2- is this dictated, or influenced, by the areas I am investing in?
3- what types of accountants and lawyers do RE investors use? (Met with a few who were sub par and would never divulge any personal information to them). Are there specific speacilties I should be looking for in a lawyer/ accountant? What questions should I be asking them?
4- Is there anyone that needs help do anything. at all? I am a learn-by-doing person, so it is a logical approach to jump into this community and start helping anyone in need!
5- what are some markets that anyone is investing in (out of state friendly), that I can get some reps in? My goal is to BRRRR at least one house by the end of the year, collect my lessons learned, hone my system, and then apply that system to scale... quickly; aiming for 5 BRRRSs by July 2021.
6- are there any lessons learned, that people found starting off, you wished someone would have explained early on?
7- what areas should I avoid?
I’m genuinely excited to meet you all 😀Please let me know if I can help anyone out!!!!
Justin Rush