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All Forum Posts by: Joshua Meyers

Joshua Meyers has started 16 posts and replied 92 times.

Post: When to work/when to play?

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24
Originally posted by @Max T.:
When your wife says so

 Looks like I'll never get to play again lol

Post: When to work/when to play?

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24
Originally posted by @Troy Fisher:
Originally posted by @Joshua Meyers:

How do you guys know when it's time to take a day or evening off from work/investing to go do something strictly for enjoyment(i.e. Golfing, Vacation, Out to eat, etc.?) I get a variety of responses to this question. Some will say to work 100 hours a week and don't stop until you don't have to work at all and others will say differently. I'm trying to find a happy medium with this. I have a great work ethic but at the same time working 12-16 hour days makes your life fly by. I'm only 22 and I don't want to miss out on some of my prime years because I've been taught only to work, work, work. There has to be balance. How often do you guys "play" per week, month, or year? 

Investing isn't playing? Hrm.  I worked for years at the 60-80/hr work week for nearly a decade, with side hustles and two jobs to be able to sock away $$.  But I was always at every party, most major campouts and so forth.

No one is going to be able to tell you what the right balance is, it's something that accomplishes your goals and makes the people around you jealous.

That's a great answer sir! 

Post: When to work/when to play?

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24

How do you guys know when it's time to take a day or evening off from work/investing to go do something strictly for enjoyment(i.e. Golfing, Vacation, Out to eat, etc.?) I get a variety of responses to this question. Some will say to work 100 hours a week and don't stop until you don't have to work at all and others will say differently. I'm trying to find a happy medium with this. I have a great work ethic but at the same time working 12-16 hour days makes your life fly by. I'm only 22 and I don't want to miss out on some of my prime years because I've been taught only to work, work, work. There has to be balance. How often do you guys "play" per week, month, or year? 

Post: Pre-approved tomorrow

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24
Originally posted by @John Yanko:

@Joshua Meyers

Very good to hear, I hope that is the same case with this guy I'm dealing with.

I'm very new to the REI field but a little research goes a long way. Weigh all your options when it comes to financing. I'm looking to go the FHA route right now. I like the option of using only 3.5% down and being able to use other money to put towards funding more deals

Post: Pre-approved tomorrow

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24
Originally posted by @John Yanko:

I'm really trying to get the ball rolling on REI. I recently found an agent (thanks to BP & she's awesome) and asked where I should go to get pre-approved. She in turn referred me to a Wells Fargo lender. My question is will the dollar amount/terms of my loan change from lender to lender? Do I need to search for other lenders or can I have some faith in this lender?

 My local Wells Fargo agent seemed to be alot more knowledgeable than most of the other lenders I've talked to lately. She used to manage a local bank so she had years and years worth of experience

Post: Hi from Wellington, New Zealand

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24

Welcome Daniil! I hope to make it to New Zealand and flyfish some of the beautiful rivers you guys have someday!

Post: Is this a good idea or a bad idea?

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24
Originally posted by @Ben Leybovich:

Thanks for joining last night, guys. In the spirit of learning, check out this thread:

http://www.biggerpockets.com/forums/88/topics/198276-capital-expenditure-costs-a-case-study-on-sfr-and-4plex---what-do-you-use?page=1#p1337370

@Engelo Rumora - any thoughts...? This one is tailor-made for you :)

Joshua - read the post, comments, and article linked very carefully. This is $500,000 worth of info to start your career on the right foot! Open your mind :)

I think I'm going to read that post and article about 5 times. Great info Ben thank you! 

Post: Is this a good idea or a bad idea?

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24
Originally posted by @Steve B.:

First, Listen to all the BP podcasts and read a few well rated RE books, and spend a couple hours a day reading these forums posts.  T hen consider flying out of state for your late night hammer swinging and dinner with the stars plan.  It's good to be somewhat knowledgeable before you bother people with simple or uninformed questions.

I've been very much listening to the podcasts. I've read the millionaire REA and the millionaire REI by Keller, how to turn $5000 into 5mil by Nickerson, and the Emyth revisited last month. I'm in the process of reading the 7 habits of highly effective people, think and grow rich, and how to win friends and influence people. I'm also halfway finished with the PA REA License School. I'm working on it sir :)

Post: Is this a good idea or a bad idea?

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24
Originally posted by @Jay Hinrichs:

@Joshua Meyers

  your in a perfect situation to get your RE license  learn the ropes working with a top producer and get paid to do it.

I got mine when I was 18 and still lived at home.  that allowed me next to nothing in expenses then when I landed my first commission 8 weeks later it was katy bar the door.

build a foundation first be involved with real transactions.. don't try to jump right into owning things... when you have zero experience and little to no knowledge on the subject.

You might find your self to be an awesome agent.. and whats better than making commissions without any financial risk other than your license and MLS dues etc.

I bought my personal resi the next year so owned my home at 19 in the CA. Bay Area that single investment was the best thing I ever did.. I paid 80k for it and sold it 18 months later for 140k and never looked back.. I did not buy my first investment property for many years after my personal resi ... But I was making good money on commission and stacking up cash.

I'm halfway through my RE license classes as of today!

Post: Is this a good idea or a bad idea?

Joshua MeyersPosted
  • Somerset, PA
  • Posts 103
  • Votes 24

I attended the meetup in Lima, OH last night hosted by @Ben Leybovich. Sometime between the meetup and driving home my wife and I lit up with energy to learn as much about this business as possible. I listened to @Engelo Rumora talk about flipping and the turnkey industry for 3 1/2 hours and I realized that I need to find and learn from more people like him no matter what it takes. Whether it be answering the phone, swinging a hammer, or getting coffee for someone who has seen the ins and outs of this business, We've decided it's a fine time to quit beating around the bush and get down to business.

This may sound ridiculous but I've retired my TV and Xbox(and all other useless time-wasting things that kill my productivity.) We have $0 debt and I live with my parents. My monthly bills consist of $257 for medical insurance, car insurance, and a cell phone bill(Not including groceries.) I'm ready to do what it takes to be successful and wealthy. I need opinions on what I should do next. Should I seek out mentors and travel to them as often as possible working to LEARN rather than working to earn?

I work 2 8/hour days a week at my job and make about $1500 monthly net. This leaves 152 more hours in the week that I can use to travel, analyze my market, work on marketing, doing deals, meeting successful people and buying them dinner and inhaling information. I'm not opposed to traveling to other states to learn as well. We drove 10 hours roundtrip for a 3 hour meeting and spent $150 total. Someday I'll look back on that $150 investment and figure out what the ROI is on it lol. Obviously I will need to save some capital as well but if I need to spend some time and money learning from the best, then I'm willing to do that. Thoughts guys? Where do I start?