All Forum Posts by: Josh Dillingham

@Gabriel Farfan I grew up in Cincinnati and it is experiencing great growth lately, a lot of people on BP have been singing it's praises including @Brandon Turner who just bought an apartment building in the area. On Tuesday MLS is going to announce that Cincinnati is getting the latest expansion team. The stadium will be built in the West End, could be a good spot to snap up some property in an area that has historically been depressed and may be on the rise.

I think the real question is why don't you trust your attorney who you pay a lot of money to give you legal advice? If you have reason to doubt them maybe it's time to get a new attorney.

Stick with asking for what you need for the deal to still work for you. If the seller doesn't budge move on. If the house is still on the market in another 2 months contact them again to see if they have changed their mind. 

Did the company you got the estimate from give you any indication why the house still has foundation issues after it had foundation work done in 2008 and 2012?

@Sarah Metzger this is not common in my market, but based on @Russell Brazil expert opinion it can vary.  What does your agent have to say about it? As long as you have an inspection contingency it should be fine.  It could actually benefit you as not being able to see the unit prior to being under contract may scare off other potential buyers.  I love the quote that @David Greene had on this weeks podcast "real estate investing is about solving problems"  this may be a problem you are willing to solve that may scare other buyers off. 

 in that case you will only need a rental property policy (which can also be known by the following names: Investment property policy, Landlord policy, business policy) You do not need renters insurance.  You're tenants can pay for that on their own if they want it, or if you require them to have it.  you do not need a home owners policy.

am I the only one who thinks the real problem is that you lose superhost status over a 4 star review?  Because I know how the system works, whenever I stay at an AirBnB I give 5 starts unless something is really wrong, because I know a non 5 star review will really hurt the host.  This makes the rating system pretty useless from a customers prospective and a cause of great anxiety from a host perspective.  AirBnB should recognize that 4 star reviews are completely acceptable and 5 star reviews are properties that go above and beyond all expectations.

Morris Invest has started showing up in my facebook ads lately.  I comment on the ads that anyone looking to do business with Morris Invest should read about investors experience with the company on biggerpockets.com...my comments are deleted within an hour...

@Anthony Gayden loved the podcast this week!  Awesome story, Congrats on all of your hard work and success!

@AJ Harris you may have $30k in equity but you likely will only be able to get refinance at 75% LTV which would be about $86K, so you would only be left with $6K after paying the original mortgage off. You'd probably be better off helping your mom sell the house, avoiding capital gains, splitting the profit with her then using that money towards a down payment for the next property. To be honest it doesn't sound like there is enough equity in this house to do to much with it. that doesn't mean you can't achieve retirement by age 40. Give us the answers to the questions that @Michael Plante asked and we could better help. 

A simple path to Financial freedom is: Save 50% of your income, use your savings to invest in a multifamily property that cashflows and can allow you to force appreciation by rehabbing it. use the forced appreciation to cash-out refinance. Use the cash to by another multifamily. repeat. AKA: Buy, Rehab, Rent, Refinance, Repeat. BRRRR. follow this model and in 10 years from now you can realistically own 20 units, cash flowing a total of $5,000 per month.

@Sophie Lavet what you are referring to is known as being a  "bird dog" similar to wholesaling, except you don't actually have the property under contract so it is more risky for you because there is no guarantee who ever you give the deal to will pay you. but it will make things simpler for you because you don't have to worry about the contract.  I would say if you're going to do this you should first try to reach out to some investors in your area and ask them if they would be open to you sending them potential deals ( I know I would agree to this if someone asked me, and I would be willing to pay a fee if they really did bring me a good deal),  that way if you do find someone that wants to sell you can move fast. I'm sure others can speak to the legality of bird dogging and whether it falls under the category of acting as an agent without a license.

Another thought, if this is something that you are interested in why not just become an agent?  Then you could reach out to the same potential sellers and become the listing agent and collect your fee in the form of the agent fee?