All Forum Posts by: Jacob Thompson

Good morning West Virginia,

New investor here seeking out networking and relationship building within the community of Huntington - Charleston. Who do you know that I should know? How can WE help each other? Fell free to reach out!

New to the game of REI. I will be operating between the Huntington - Charleston area and would like to connect and network with like minded individuals!

I am currently a W-2 employee but have aspirations to achieve FI one day. I believe building the right team around you and building relationships is key to long term success.

Say you were investing and lived in one state and were moving to another state (totally new market and were going to be hours away from your original market)

How did you make the transition in between markets for those of you who have done just this? (Sell out and start over in the new market? Long distance invest? Hire property management?)

I see post on here all the time of individuals succeeding exponentially and I am totally happy for them, but what is the key to scaling at such a high rate? OOS investing/purchasing? Partnerships? Commercial?

Do you always look for the BRRRR method or are you flipping? Wholetailing?

How often do you actually JV with people on here or outside of your regular network? It seems the area I'm in, investors are few and far between?

I have full intentions on reaching FIRE but sometimes it seems like I’m just staring at the bottom of a mountain and wondering how some of you reached the top!

Thanks in advanced!

@Collin Schwartz

Amazing. Fantastic story.

I am literally just starting out and sometimes I feel like I’m just looking at the foothills of Mount Everest. I hope to one day reach those levels of success!

@Lee Judd

Lee I requested to connect with you my friend. I appreciate the support and kind words. I hope you and your family had a Merry Christmas and a Happy New Year.

@Lee Judd

Valid point. She supports me. She knows my long term goals and where I stand. She went through my time in the military and survived.

Idk what my plans are yet as far as the house goes. I’m thinking I’ll probably just hold & rent the house and let them pay down my current mortgage. If I need funds for our next home, I may refinance that amount then if needed.

Wanting to purchase my first property (or properties) here in 2021 but wondering what other seasoned investors would suggest I do with my current home...

I'm currently in the middle of a remodel of my current home (we cash out refinanced late last year). My home appraised during the refi. Last year for $137,500, we accepted a new loan amount of $110,000 (80% LTV) and after my remodel is done I expect to be in the ballpark of an ARV of $160-$170K?

Would you, as an investor starting out, sale out and collect profit after closing or cash-out refi again and invest in other properties, rent the current home out, buy another home to live in, etc?

Remodel information:

3/1/1 brick home

Complete upstairs rehab (insulation, drywall, new heating/cooling system)

Full bathroom remodel (toilet, flooring, shower, vanity, etc.)

New kitchen appliances

Front and back decks installed

I’m wanting to know what all resources you veterans use to locate your potential next purchases? (Realtors? Internet? Banks?)

Where/How do you all locate your foreclosed homes?

What websites do you use?

Drive for Dollars?

Thanks in advanced!

@Bud Gaffney

Merry Christmas & a Happy New Year to you and your folks, Bud.

My goals for 2021 are to get my business lined out and off the ground and acquire our first 2 units.

I hope to grow and learn in the REI industry, build relationships and take steps closer to my goal of financial freedom via my units.

Best of luck to you in ‘21!