All Forum Posts by: John Jasko

I'll be moving to the area (Fairmont/Morgantown) in a few months from Richmond VA. Here we have multiple groups and meet ups a month to network and grow. I've found 2 on Facebook (West Virginia Real Estate Investors Association, and Morgantown Real Estate Investors). Wondering if anyone knows of anymore or if there are any regular meet ups.

Here in Richmond we do about 50 transactions a year spread across Fix and Flip, STR and wholesales. I'm hoping to branch that business out to this area. Let's connect!

SETH

 That depends on the state you are in, the amount you lend, the number of times a year you lend, what your goals are, etc.

DM me for more details

@Jeremy Suffel welcome to BP.  I'm outside of Pittsburgh - not too far from you in the grand scheme of things.  I saw your other post as well, and decided to do a joint reply here to both posts.  Some very miscellaneous thoughts and responses:

-I think getting started in flipping is very tough.  The best flippers are the professional flippers who have big operations.  One-offs are difficult.  And at the end you don't own anything.

-I saw in your other post that you can't house hack / live in flip.  That's fine.  Lots of other ways to invest.

-As others have said in this thread, setting up an LLC or corporation generally isn't all that important when you're getting started. But, if it's important to you, that's great. Talk to some professionals in your area and see what they think.

-You can use passive losses from real estate to offset W2 income even without any kind of sophisticated setup / having a corporation.  You just report the loss when you file your taxes.  There is a cap and it starts to phase out at $100K.  You can look up the IRS rules online or ask a CPA.

-Are you looking to buy and hold?  Do you have funds for a down payment for something + reserves?

-Are you working on a Core 4?  Are you attending meetups?

Hope this is helpful