All Forum Posts by: Josh C.

I am just curious to see what experienced real estate investors do in terms of the timing to form their entity?  For example, do most people form their entity prior to their first deal and pay the fees associated with this path?  Or, do investors flip a few houses first (for example) and put the notes/titles in their name?  If choosing the latter, is the assumption that the home owner's insurance is enough to cover any potential issues that occur during rehab?

Nevermind, I just saw your Saturday thread :)

Hey @Brian Hayes, is the schedule for your meetups the first Saturday of each month and the last Friday?  Always the same time/place?

That is good advice Crystal. I have a related question, when in the process do most investors form their LLC? Do most people do a couple of flips/buy some rentals before forming their LLC because they want to avoid the fees and they can use insurance coverage to cover any lawsuits? Or, do most investors form their entity from the very beginnning?

And Steve, I live in a nice area of Columbus.  It has one of the best school systems in the state.  I will admit that there are not many rental properties on sites like rent.com.  Is there another place to see rental prices other than the obvious internet avenues?

Thanks Carla, which local REIA is the top dog would you say? The Columbus REIA, COREE, something else?

Well @Jay Hinrichs, I 100% completely stubbled upon this first flip.  I bought it 2 years ago by luck, then I realized that the work required to flip a house is not brain science.  Now I'm hooked! @Aaron T. I don't think I'll be finding too many more 100k flips these days, but am happy to continue trying!  I thought about holding and renting out my house.  Rents in the area go for anywhere between 2500-3000, but then again, this is a good amount to reinvest now.  What has been the cutoff you have used in the past to determine whether or not you would hold vs. flip?  For example, if you were only going to make 20k, would you hold and rent... but if you made 50k, would you then sell?  What's your cutoff (if you have one :))?

I bought my first foreclosure flip for 213k, put 25k into it (238k note), and now will sell for around 350k to 360k.  After all expenses paid, I should net around 90k-100k.  With the goal of buying and holding and doing some flips along the way, I am curious to what more seasoned investors would do with the money?  I have some external factors at play (i.e. student loans, want to find another live-in-flip, etc.), but I am willing to put a significant chunk into real estate.  I also have an investor who is looking to contribute 40k to my next project.  What are your thoughts?!

Hi BP community, my name is Josh and I am from Columbus, Ohio. I am a full-time technology consultant who got into real estate by what only could be God's plan! My wife and I were driving down the street one day when we noticed an open house sign. We had nothing to do and were loosely looking for a house (living with my in-laws as we just got married) so we decided to stop by and see the place. The house turned out to be a HUD home that had been completely gutted. We put in an offer two days later, got the house, rehabbed the entire thing ourselves, and ended up making about 100k in equity on the deal. From that point forward, I became a student of this industry waiting for my chance to cash out on the equity and begin building my portfolio. BP has played an extremely large role in that and I want to thank Josh D. for starting this company. It is an extremely welcoming community with an enormous amount of information. I love soaking it up and am looking forward to giving back as an active member.