All Forum Posts by: Joel Case

You are on the right track with the book, finish it up, deep dive into the STR section here on the forum, and I would suggest checking out your local REIA, I am sure there are a few STR investors there that are willing to talk with you. I did my research and just winged it and have had pretty good results. I believe STRs are something that you will constantly fine-tune as a new STR investor until you have a good bit of experience under your belt. Good luck to you!

When I spoke to my CPA he pointed me to @Yonah Weiss as well. 

I would tell my previous self to start learning way earlier. I thought that I couldn't afford another property until I paid off my primary residence, man was I wrong. Take the jump sooner, get out there and do it once you do your research. 

I listened to Pace Morby's episode on the Bigger Pocket podcast and I must admit that I was dazzled. Then when I did my own research on a few interesting things he talked about, I was unable to find anything to backup his claims. This made me extremely suspicious of Pace and there is no way I would spend more than $150 for any information that he has to provide. Go to your local REIA meeting, make local connections, and use that $11k as your down payment on your first property. Be an investor instead of a student.

I would advise you to consult a lawyer for legal advice. I am not a lawyer, but in my opinion, at your stage I would not worry about getting an LLC setup unless you have considerable assets. The purpose of the LLC is to shield your other assets should a lawsuit arise. If you don't have equitable assets then your risk is minimized and an LLC is not needed.

Refuse the buyer's wishes and let them drop out if they like. If it were me and they were to drop out, I would bite the bullet, fix the deck and roof, then relist at the appropriate market price. 

Very interesting, I am not the best writer for things like STR listings, so I fed it my blurbs and it seems to have added some nice touches and even came up with a few sentences on it's own. I am going to have to play with this a bit more.

I have a coworker who started investing in Mobile a couple of years ago and has completed about 10 flips at this time. He seems to have no problem finding deals around Mobile. 

Wells Fargo Active Cash does 2% cash back on everything as well, It's what I use daily. 

 Short Term Rental.