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All Forum Posts by: Jacob Gish

Jacob Gish has started 8 posts and replied 27 times.

Greetings, 

Thanks for taking your time to read my story. Please start by telling you a little bit about me. 

I'm 29 years old married with one child on the way soon. Born and raised in Chattanooga, Tennessee. We were married on Sanibel Island and we're lucky enough to to have our wedding filmed as part of the official Sanibel Island music video with our appearance first @ 4:12 into the video http://www.youtube.com/watch?v=HCZhverUzA0 We are avid dog lovers with five fur kids currently. Our family is 3/4 vegan with the only animal products we consume being leather and cheese, however, we are phasing both out.

My position as the president of a tool company and a precision agriculture company consumes most of the time. I have a degree in environmental science and was once a certified license wilderness EMT. My hobbies include traveling, reading, hiking, gaming, disc golf, scuba, consuming art especially concerts, and relaxing. I've been to over 30 states and 10 countries.

In my pursuit of knowledge I can consume then leverage to increase my assets I found my way to bigger pockets. My experience with real estate transactions is limited being only involved with purchasing the house I currently own free and clear. We recently vacated this property to move into my wife's house to start our family. My main real estate goal is to turn this one house into a cash flowing asset asap that is held in a trust for my soon to be born child which I will manage into a real estate empire that creates long term sustainable wealth for my family, business, friends, and community. I'm passionate about all things ecological, sustainable, green, solar, etcetera. My two other primary long term real estate goals relate to truly sustainable development and rehabbing superfund sites. Eventually I will have a portfolio of properties that I can leverage to give my tech companies talent acquisition and retention teeth for employees.

I just found out today that the contractor who was going to get my house ready for a tenant is going to move to another city to care for his dad who is legally blind. 

My strategy now to get the house cash flowing asap is to meet with several highly recommend contractors and property managers in the Chattanooga Tennessee region or surrounding. 

Thanks for your welcome @Brandon Turner. Sanibel is south west Florida close to Fort Meyers, a little bit north of Naples. It's unique shape and geography lend it to be an exceedingly excellent destination for shelling. I'm enjoying the website and consuming all the knowledge!

Post: Country/Farm Niche?

Jacob GishPosted
  • Chattanooga, TN
  • Posts 28
  • Votes 2
Originally posted by @Bill Gulley:

Liability for fencing is one thing, keeping it in good condition to normal wear and tear is really on the land owner, not the tenant, damages are something else.

As to tenants doing maintenance, a minor fence repair is not a capital expense really, it can be expensed off, minor issues. Ag property can be commercial, if any business is derived from the property by the tenant, like raising horses for sale, giving riding lessons maybe. They can then take on maintenance issues.

A residential lease, the tenant can't capitalize expenses for improvements or expense items as they have no means to do so as a residential tenant, so that falls to the one who has the financial advantage, the owner. You depreciate improvements, tenants do not, unless they have a business purpose as a commercial tenant. 

Either you or the tenant can obtain insurance. Your cost on insurance is figured in with your costs to lease, the tenant still pays it.  :)

Thanks for this informations. I myself am interested in learning way to monetize agricultural and commercial properties as per my long term goal. Currently I have one vacant property free and clear that I am about to cash flow. Any more best practices or references to information such as forums or books to peruse these niche?

Originally posted by @Trevor Ewen:

@Jacob Gish

Welcome. I can definitely see large niche potential in your interests, primarily in the environment and sustainable living. 

I think that sector/passion-oriented knowledge is a good way to develop specific and unique segments in a market. I think that Going Against the Grain is good practice in the building of wealth. 

Be like Jefferson Lily and Glenn McCrorey (both BP members). Do something unique.

 Thanks for you're response! The article your referenced was enjoyable and educational!! I had read a couple of the books on the list it mentioned but put the others one my Amazon wish list.

Originally posted by @Luke Holcomb:

Hey Jacob, 

Welcome to BP and REI. I feel like you were saying that you live in Chattanooga, but I couldn't quite figure it out. I am in Chattanooga, and we have a fun and robust REI community here. There is a local REIA that I would recommend checking out. If you want to grab a coffee and shoot the breeze just PM or call!

take care,

   -Luke 

 Thanks for your response. I have heard of that association and have joined at the free affiliate member. Pom in contact with paid members. I currently live in Soddy Daisy and my house is in East lake. I'll pm you about some coffee.

Originally posted by @Account Closed:

I highly recommend getting a good financial education before jumping in.  I recommend these books:  Rich Dad, Poor Dad by Robert Kyosaki, The ABC's of Real Estate Investing by Ken McElroy, The Advanced Guide to Real Estate Investing by Ken McElroy, Building Your Wealth One House At A Time, John Schaub, Investing in Duplexes, Triplexes & Quads, by Larry Loftus. Also, the Bigger Pockets Book on Investing With Low or No Money Down by Brandon Turner, and Investing In Real Estate by Gary Eldred. Also, check the file place on BP for other eBooks.

 Thanks for your response. I have read several of those, had the bigger pockets books purchased and slated to read next after getting a bit more acquainted with an overview of the website and community. The others I will add to the que. 

I'm 29 years old married with one child on the way soon. Born and raised in Chattanooga, Tennessee. We were married on Sanibel Island and we're lucky enough to to have our wedding filmed as part of the official Sanibel Island music video with our appearance first @ 4:12 into the video http://www.youtube.com/watch?v=HCZhverUzA0 We are avid dog lovers with five fur kids currently. Our family is 3/4 vegan with the only animal products we consume being leather and cheese, however, we are phasing both out.

My position as the president of a tool company and a precision agriculture company consumes most of the time. I have a degree in environmental science and was once a certified license wilderness EMT. My hobbies include traveling, reading, hiking, gaming, disc golf, scuba, consuming art especially concerts, and relaxing. I've been to over 30 states and 10 countries.

In my pursuit of knowledge I can consume then leverage to increase my assets I found my way to bigger pockets. My experience with real estate transactions is limited being only involved with purchasing the house I currently own free and clear. We recently vacated this property to move into my wife's house to start our family. My main real estate goal is to turn this one house into a cash flowing asset asap that is held in a trust for my soon to be born child which I will manage into a real estate empire that creates long term sustainable wealth for my family, business, friends, and community. I'm passionate about all things ecological, sustainable, green, solar, etcetera. My primary long term real estate goals relate to truly sustainable development and rehabbing superfund sites and to have a portfolio of properties that I can leverage to give my tech companies talent acquisition and retention teeth for employees.