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All Forum Posts by: Joshua Kim reid

Joshua Kim reid has started 18 posts and replied 35 times.

Post: Winston Salem NC Investors?

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11
Quote from @Vishakha Penney:

Hi Rick, we are expanding into W-S if you are still looking for investors. We are looking for multi-family properties for our next purchase. Thanks.


 I'm born and raised Winston-Salem, I would love to connect with you and learn your buy criteria!

Post: Real Estate Note Investing

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11

Hey everyone! I recently came across something called "note investing". I don't fully understand the concept and was looking to get any advice, tips etc. Where to find these types of deals? How to properly structure these deals as well as the process of closing them. All advice and tips are appreciated!

Post: Wanting to get started

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11

Hey everyone! My main goal is to own MFH (preferably mobile home parks) but currently have no credit as well as money for any sort of downpayment. I'm wanting to know the criteria for getting started in this strategy, any and all feed back is welcome!

Post: Starting out in Buy and Hold

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11

Hello BP family, I was wanting to know if I'm able to purchase a home using a FHA loan and the assistance program for the downpayment, would I be able to live in the property for 6 months-1 year and then rent it out? Also, would I be eligble for a REFI if I was able to pay off the assistance loan for the downpayment? Any and all feed back is welcome, I appreciate you all!

Post: Looking for wholesalers

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11

@Ethan Neumann I'm born and raised Winston-Salem, Inspiring wholesaler/Flipper. I would like to connect and understand your buying criteria.

Post: Question about the use of 401(k)/IRA in Real-Estate

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11

Hey everyone! I was wanting to know if anyone would know the benefits of utilizing a 401(k) (if possible), as well as the uses of a IRA of any sort. Any and all feed back is appreciated!

Post: Working with Agents

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11

Hello all! I was wondering if it was perfectly fine to do assignments with agents and didn't know if it varies state to state? I assume it would vary from agent to agent as well. Any and all feedback is appreciated!

Post: Question on Seller consent.

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11
Quote from @Scott E.:
Quote from @Eliott Elias:

Depends on state, in Texas all contracts are assignable unless stated otherwise. 

He wasn't asking about Texas.

@Joshua Kim reid - I wouldn't use a template from an attorney that doesn't do assignments. A real estate attorney can help with this, but I recommend you talk to a couple of real estate agents and title companies first.

Most agents and title companies in your area should understand the rules around assignments in NC. Once you have a base understanding of what is appropriate and acceptable around there for contract language, then you can call up the real estate attorney, present the information, and have them give their blessing. This way you're only paying for ~1 hour of their time.

 The copy of the contract I got was from a Real Estate Attorney's office, told me they don't work with assignments, but proceeded to sent me the copy. All replies and advice I've received so far have been extremely helpful! I appreciate you all!

Post: Question on Seller consent.

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11

Hey all! I don't know if all contracts are this way, but in NC I've read that all contracts are automatically assignable. However, I've recieved a template from an attorney and it states that in order for me to assign, I would need "seller consent". Would that require a complete different form, or would that need to be included in the original contract with the seller? Also, if anyone knows of any assignment-friendly title companies/attorneys near me, I would love to know!

PS- The attorney that sent the template doesn't do assignments.

Post: First JV interaction

Joshua Kim reidPosted
  • Investor
  • Winston-Salem, NC
  • Posts 40
  • Votes 11
Quote from @Eliott Elias:

Yes and yes, happy to share my JV contract.


 I'd greatly appreciate it if you could, Elliot!