All Forum Posts by: Josh Springer

From what I've seen, an attorney can draft up either the single page agreement or a few page, nothing crazy. From that point, you'd just find a titling company to process the transfer. In this area, I feel like the average cost fees ranges 1100-1400 in the area. 

I've talked with a few attorneys so far and have really liked Ben Bauer down in Cincinnati. He seems pretty fair on pricing. Then you can just use the template in the future. 

Depending on where the purchase occurs, just make sure to understand the tax prorations, inspection contingency, and making sure they're paid up on prior taxes as well.

Just factor all these number into your offer price for ARV.

@Sergey Tkachev and to you as well! You get your buddy on BP yet? :)

@Sergey Tkachev @Darrin Carey I've likely got time on Sunday afternoon for a meet and great. Let me know what area :).

All - sorry if this is answered already, but haven't found a fast link to this. I'm looking for your recommendation on preferred software for book keeping. Ranging from free, paid, and subscription based and the reasons you prefer them. 

If a location already exists for this, please let me know! I apologize if that's the case. :)

Thanks @Darrin Carey. Learning the forums here, very excited. Posted in a couple different areas to see where activity is. Glad to see some activity over in the Dayton area! :)

Introduction
My name is Josh. My wife and I are both prior Active Duty Air Force (she's not in the guard). I medically retired from the Air Force after breaking my back in 2014. I've since continued to work in IT and now work as a Senior Consultant for a well known software company. Although I've been successful in IT, I don't have much interest in it anymore and want to not only gain financial independence, but transition into a career in real estate.

Like many others, I have minimal experience in in REI (buying and selling primary occupant homes). Furthermore, I have very minimal experience in the DIY aspects of home improvement. Both of which I'm passionate about learning in the years to come.

My goal is to find like minded individuals, from all walks of life, experience levels, goals, focuses and simply meetup for lunch, a coffee, or larger groups - in addition to the local monthly Dayton Meetup group. I'm a huge advocate for professional development and I've learned that even a 15-30 minute conversation can ones self by leaps and bounds. 

Goals
As with all things, this plan is by no means rigid. I'm still trying to learn my niche, but this is my starting blue print. This will evolve over time as I learn more, but want to provide this to hold myself accountable and transparent. 

I have 2 primary goals. One is to create passive income for retirement, my secondary is being able to leave my current profession and focus full time into real estate. 

Short Term (1-3 years):
- Sell current property - Class A home, can make equity on sale, but rent level is too high for comfort (too risky)
- Year 1: Purchase first "House Hack" property (duplex)
- Year 2: 1 Duplex (Stretch Goal: 1 multifamily)
- Year 3: 2 Duplex (Stretch Goal: 1 multifamily. 2 flips) 
Total Properties: 4 rentals (Stretch Goals: 6 rentals, 2 flips)

Medium Term: (4-7 years)
- Year 4: 3 Duplex (Stretch Goal: 1 Duplex, 3 flips)

- Year 5: 3 Duplex (Stretch Goal: 1 Duplex, 4 flips)

- Year 6: 4 Flips - begin preparation for year 7 goal (Stretch goal: 2 flips)

- Year 7: Trade 3-4 initial rental up for an apartment complex (Stretch Goal: need to identify sizing for initial goal, then shoot for higher target as a stretch)

Long Term (7 years+):
- Needs developed. Expand on first 7 years, continue to focus on compounding capital investments for scale. 

@Michael S. @Marlon Fong thanks you both for your recommendations. 

@Marlon Fong I've taken a look at the beginners guide and am current through a couple of the audio books (Rental Property Investment and Rental Property Management). I'm getting a lot of good information. Each minute I listen to, the more and more confidence I'm getting.

Thanks for the meet options. I'm definitely going to work on connections and networking in my area.

Furthermore, are there standard population densities you look at? Specific crime rates, school ratings, etc that could be a good indication for growth (or long-term stability)?

Hello,

Although very much a greenhorn, I've been working diligently to not only find my portfolio path, but identifying my niche/passion. 

I've decided down a path of Leasing Options (rent-to-own) for my own passions. I watched Podcast 185 (How "Rent-to-Own" can increase cash flow and maximize equity with Bill Powers). It was crazy listening to this conversation, because everything he said resonated with some of the philosophies I've been exploring. 

While I'm very interested in the concept of "revitalizing" home ownerships in smaller towns, we still have to look at it from an investment standpoint is the cashflow, processes, etc. This for myself is honestly learning over time, I can work on that. 

Now, obviously I'd go to my hometown and do this in a heartbeat, but I simply don't think there's enough industry to support it at the moment. From the perspective of you more experienced REIs out there, is there some method or resource you use for towns that should expect growth? I want to target those blue collar towns  (B-/C Neighborhoods) , but trying to find good resources on finding industries planning to move, potential changes, etc. Do you just setup news alerts for local financial changes, etc? What are you methods for choosing a town and more specifically in my case, midwest suburbs or semi-rural towns?

Thanks!