All Forum Posts by: Jason James

@andrew freed lets link up. I believe you are on the GB Chat as well. When do you get in?

@Benjamin Foullon

@Henry Bagh answer to question 1, it all depends. If the properties make sense and cash flow with DSCR loans, you will be able to leverage it into more properties. If the intent is to avoid the closing cost, remember you will still incur these costs during acquisition and when you go to refinance down the road. On question 2 I would just make a list of LLC/ Trust formation companies (Ex. Anderson & Sons) and have a discovery call. They will be able to guide you in the best direction based off your specific situation. In regards to taking action... just take ACTION. My first rental property was purchased in my name, then my next few in LLC. you can setup a LLC in a quickly as 24 - 48 hours depending on state. Don't let that be the reason holding you back. Lastly, just keep it simple purchase one, go through the process and that will give you a ton of clarity on the next steps!!! Good luck, and I'm looking forward to see your progress!

Over the past few years I been focused against not only physical but also mental and spiritual. I am a big fan of Hal Elrod miracle Morning practice as it has literally change my life in so many ways.  Look into it as it focuses on Meditation, Exercise, Journaling , affirmations etc. the framework is easy to follow and can be modified based on the time  you have.

@Gil Korezky have you tried the Bp Calculators, those are great to start with. Also if you reach you to a lender directly it will probably be your best bet as they all offer slightly different loan products with costs etc. When I started the exercise your doing I made a list of 5 -7 lenders and call them. It's all new so it can be a little intimidating but what you'll find out there are there to help and assist you.

@Jesus Morales my ideal markets have changed as I have continued to learn and shift strategies. initially starting out I was focused on Cash flowing areas with lower entry points. Then shifted to  small multifamily and now mid term rentals.  That led me from Michigan to St Louis to Chicago. Now I'm evaluating other markets where there is strong opportunity for Mid Term rentals. 

@Noah Bacon By the end of the year I plan to add a mid-term rental to portfolio and complete a full stabilization of a multifamily that we are working on. My goals for 2023 have definitely  shifted  for various reasons (market dynamics, opportunities  and strategy).  

@Owen D. what tools are you using to analyze? also have you clearly defined your buying criteria. 

@Lee Korak this is a simple step , but a great one. Now the fun starts. what actions will you take are have you taken to start moving toward that goal? Congrats by the way and i'm looking forward to seeing your journey. 

@Corey Conklin I agree. in regards to creating general wealth it starts with education , knowledge and habits. While I'm on the path of building wealth, my biggest focus for my daughters and family is teaching them what I'm learning along the way. This includes general understanding of budgeting, taxes, interest  and investing. 

Another focus of mine has been with goal setting. Ensuring my daughters aren't afraid to set big goals, but making it clear to them that it  will take intentional action and sacrifice to achieve it. I'm very clear with them it doesn't necessarily have to be "hard" but any goal in life will take consistency action.  Generational wealth to me is more about shifting mindsets, improving habits and setting a new standard that your family can live by if they choose.