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All Forum Posts by: Joseph S.

Joseph S. has started 1 posts and replied 2 times.

Thanks for the kind words and advice! Yes, I've build a solid savings and continue to cover my expenses with a side-business that takes little time, so I'm sure about being ready to try and create this business. 

The thought of the first is indeed daunting, so I appreciate the rule of thumb ratio. Where does it come from? I'll check out the book too. 

Hi all! I'm new, but I'm about to be all in. Over the next few weeks I'll be transitioning out of my job and seriously diving in to real estate. I'm 22 BP Podcasts in (Hopefully through all 200~ before my last day on the job in a few months), through rich dad poor dad, and reading deep into the BP guides online. I should be OK on cashflow for a little while which I should should create a short term boost having someone lucked out a few investments. That said, my biggest concerns and initial obstacles are in setting up my "program/plan", and would love and appreciate a few pointers. 

Personality: I tend to be a spreadsheet guy. I have the habit of mapping everything out to know exactly where I'll be spending to avoid surprises in the end. The first thing on my mind are the constants. 

Ideally I'll be creating a passive income by buying and holding (open to trying other pieces though, hard $ lending, notes, a flip if a good deal presents itself), and I realize that I'll need a RE attorney, agent, accountant, appraiser, inspector, etc (I guess that some of these can be combined...). How many other moving parts and people should I account for or list out when initially building out my sheet and before ever scouting out properties in my area? 

Jay Scott's BP #10 was great by the way, and I'll be diving into his books too soon. If I tried flipping, I know that I'd need to add a project manager, the right contractors etc... There are so many resources on here. I've been through the UBG and more, and will continue at full speed, and I look forward to becoming more involved!