All Forum Posts by: Josh Rich
Josh Rich has started 14 posts and replied 82 times.
Post: Out-of-state Landlording

- Investor
- Encinitas, CA
- Posts 83
- Votes 18
Thank you all for your insights, looks like a property manager is the way to go. With this being my first solo deal, I wanted to try doing it myself just to learn and I'm learning a lot!! What I'm finding is there are times, like showing the property, that I just need someone there that I can trust and of course pay for their time.
Post: Out-of-state Landlording

- Investor
- Encinitas, CA
- Posts 83
- Votes 18
Post: MBA Grad Professional Real Estate Career Advice

- Investor
- Encinitas, CA
- Posts 83
- Votes 18
Originally posted by @Liz Brumer-Smith:
@Wes Shive, I love your advice on determining your goals and working backward from there! Is there a reason you want to work in a real estate JOB other than for experience? Are you currently working?
I agree to find the area of real estate that resonates with you the most and matches your long and short term goals then find someone that you can mentor/intern/work with to learn the ropes and gain experience.
My current job is in Healthcare and I do very well, just not passionate about it like I am real estate. The area of real estate that resonates most is CRE note investing, which is so complex that I feel I would need to work to learn before I earn.
Post: MBA Grad Professional Real Estate Career Advice

- Investor
- Encinitas, CA
- Posts 83
- Votes 18
Originally posted by @Wes Shive:
I would suggest that you ask yourself what your ultimate goals are and then work backward from there. And be specific.
This is simple but profound advice. It takes real introspection to understand "Ultimate Goals" and then insider knowledge to work backward from there, which is often the bigger challenge. Meaning, I know what I ultimately want, just not sure how to get there in the most efficient/effective manner.
Going the corporate route and working for a company is certainly an option. As one who used to work in finance, I would caution about getting stuck in a position where you are making good money but are unable to find the time or push hard enough to put real hours in on your personal real estate endeavors. Having a flexible job with enough fat to save and invest is arguably a better position to be in for what it sounds like you want to do.
Love this advice! Recently it was confirmed with some of my Private Equity buddies, exactly as you
Post: Bill Gulley: Path to Success Education

- Investor
- Encinitas, CA
- Posts 83
- Votes 18
Originally posted by @Bill Gulley:
What I suggest is to follow your desires, your dreams, stay focused with your education and knowledge and look for opportunities rather than trying to force some strategy into success. Be alert, nimble, flexible, adjust to ever changing conditions in your business. Map out a direction, not so much as a true course as you'll need to go around obstacles.
This is the best advice I've heard in many years, thank you ! This has been true my entire career and the ambiguity of it all sometimes is an obstacle in and of itself. Thank you for your time to respond. The direction I'm mapping out is RE finance, ideally involving CRE loans. Thanks again.
Post: MBA Grad Professional Real Estate Career Advice

- Investor
- Encinitas, CA
- Posts 83
- Votes 18
Recently I reached out to @Bill Gulley for some advice and I thought I would open my question up to others on the forums for all of your great insights!
Here's a little background on me...
Recently I earned an MBA with a real estate focus from the University of Pennsylvania and live in CA (distance learning program). Several years ago I studied for and received my CA real estate license and did the same with a TX RE license and worked as a mortgage broker there for a few years before getting into healthcare account management. Long story long, I have an EXTREME PASSION for real estate and only a basic understanding of RE fundamentals, not much more though than the average investor.
How does a guy like me develop a professional real estate career to learn/earn/and return like so many veterans on this site? My interests are in real estate finance, mortgage note investing, tax liens/deeds, and buy/hold MFR for cash flow.
My initial direction is to pursue private equity or other institutional investing in an acquisitions role, or possibly asset management. Just not sure it will get me to where I want to be in 5-10 years, which is managing my own portfolio of notes, properties, etc., helping others, and coaching those interested on the principles of success.
Thank you in advance for any wisdom you are willing to share!
Post: Bill Gulley: Path to Success Education

- Investor
- Encinitas, CA
- Posts 83
- Votes 18
Originally posted by @Bill Gulley:
The basics or principles of real estate go back decades and have not changed. This is where the bulk of RE knowledge is, deeds, title, ownership rights, encumbrances, encroachments, liens, economic aspects, what RE is and what makes it valuable, valuation methods, legal contracts, disclosures, surveying, laws of agency, this stuff hasn't changed and is the basic foundation of all strategies used by operators and investors.
Learn real estate first, then how to deal in real estate. :)
Bill, let me just start with...you are a LEGEND!! Now for a little background on me...
Recently I earned an MBA with a real estate focus from the University of Pennsylvania and live in CA (distance learning program). Several years ago I studied for and received my CA real estate license and did the same with a TX RE license and worked as a mortgage broker there for a few years before getting into healthcare account management. Long story long, I have an EXTREME PASSION for real estate and only a basic understanding of RE fundamentals, not much more though than the average investor.
How does a guy like me develop a career like you have had, to learn/earn/and return? If you were just starting out and had a love for mortgage notes (knowing what you know now), what would you do differently, or the same?
My initial direction is to pursue a start in private equity or other institutional investing in an acquisitions role, or possibly asset management. Just not sure it will get me to where I want to be in 5-10 years, which is managing my own portfolio of notes, properties, etc.
Knowing how involved you are with many much more worthwhile endeavors than responding to this post, I will post this as an open question to others as well. Between you and me and the three people reading this, I really want to know your thoughts first. Thank you in advance for any wisdom you are willing to share!
Post: Scott Carson 'Note Buying for Dummies'

- Investor
- Encinitas, CA
- Posts 83
- Votes 18
Originally posted by @Tom Goans:
"...This form of investing is only for those who are very skillful in the real estate business and have great knowledge of the laws - federal and state."
Great post, I appreciate you sharing your experience and wisdom. Recently I earned my MBA from the University of Pennsylvania and want to gain the experience you mentioned. What are some good starting points for a guy like me to learn this process, gain the required experience, and eventual manage my own portfolio of notes?
The sharing of your insights is always appreciated!
Post: UBIT Taxes in Solo 401k

- Investor
- Encinitas, CA
- Posts 83
- Votes 18
Originally posted by @Brian Eastman:
The IRS language is as follows: If a tax exempt entity engages in a trade or business on a regular or repeated basis, then UBIT applies.
Brian, you made a great post. Curious, do you think investing passively (providing equity capital for a preferred return) in an LLC partnership that manages a self-storage RE fund (the LLC is not the property manager, just the fund manager) would trigger the UBIT? What about something similar with a fund that bought a retail shopping center? Just starting and looking at some investment options. Any insights are greatly appreciated!!
Post: Partnering on my first deal

- Investor
- Encinitas, CA
- Posts 83
- Votes 18