All Forum Posts by: Joshua Noth

Welcome to BP @Matthew Herman! As many people are saying, there are lots of things to learn and practice as you scale with REI. Immerse yourself in this stuff - like the others have said, this can be accomplished tons of ways. Speaking with other investors/Realtors/contractors/etc. is a great way to do this, for more reasons than one - not only can you learn from them, but you can create a working relationship with them.

Networking aside, don't forget the basics: reading books, listening to podcasts, engaging on these forums.  Being familiar with lingo/processes is very important and will save you time down the road. Best of luck to you!

@Gary Wildey There are numerous factors, and a huge one I would echo is what @Michael Dumler mentioned: if you don't have a team in ANY market (whether in market or OOS), it can add another level of difficult to your investment.  This is drastically more difficult if it's an OOS market.

Many people suggest investing locally for a first investment for many reasons, one of them being it tends to be easier to build that strong team - meeting them in person, meeting at the property, etc. can be very beneficial.

That being said, if your local market simply DOES NOT meet your criteria for an investment, don't try to force it.  Where would be your local market, and where else are you considering?

Welcome to BP @Elijah Weeks, great to have you here. While still in school, save up any funds you can, and learn as much about REI as you can (without sacrificing your current schooling, of course)! Best of luck to you

Welcome to @Austin Luke.  Sounds like you've got a great gameplan - hope it works well for you.  Wishing you the best of luck!

Hey @Avin Malhotra - The three areas you mentioned show great potential.  But also, most of Austin looks poised for growth and appreciation (as @Jordan Moorhead mentioned, companies/people are moving here constantly).  "Decent rent" can be very subjective...I take it that you mean decent cash flow? Or just a specific number?

Your own criteria might also influence this decision -proximity to downtown, proximity to major employers, etc.

Hey @Timothy Bombara and welcome to BP! Great to have you. If you are just starting out, the best advice I have (though very broad) is to learn as much as you can. Read, listen, and engage with others, all about real estate and REI. BP has tons of that, so dive right in!

Welcome to BP @Ryan Johnston, pleasure to meet you. You said you do STR - just curious, what markets do you invest in?

Look forward to seeing you share anything and everything you know about lending as well as STR on these forums!

Welcome to BP @Lucas Beattie, great to have you. That is one of the cooler fun facts I've heard about someone, I imagine you'll remember that forever. Wishing you the best of luck in your REI

@Jorge Castro I'm not going beat a dead horse over what people have insightfully said: sticking to your numbers and writing them down as hard-set criteria is very helpful.  It keeps you from slacking off on an analysis and letting it slide.

Something that may help keep emotions out of it: think of REI as a business, not just a side hustle or project. Stay passionate, but always keep in mind that it's not the same thing as Monopoly. If your REI career HAD to reach certain goals/criteria, and the business would crash and burn if it didn't, you would make sure you met those criteria. Keep that mindset

At the same time - make sure your criteria are realistic. If you are investing in a market with little cash flow but your analysis requires a minimum of the 1% rule, you may never hit that.

Welcome to BP @Aleksei Gonzalez, great to have you here.  DFW has lots of great potential and seems like a strong market - I take it you're investing there as well? Investing in your local market is always helpful, but not required by any means!

Wishing you the best of luck.