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All Forum Posts by: Josiah Kay

Josiah Kay has started 19 posts and replied 152 times.

Post: Wauwatosa/Milwaukee Real Estate Investor Meetup

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99

Come join a group of fellow real estate investors who are looking to change our lives through real estate investing. As a bonus, Big Head Brewery offers some great options for craft beers and (usually) has free popcorn!

Post: Wauwatosa/Milwaukee Real Estate Investor Meetup

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99

Come join a group of fellow real estate investors who are looking to change our lives through real estate. As a bonus, Big Head Brewery offers some great options for craft beers.

Post: Wauwatosa/Milwaukee Real Estate Investor Meetup

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99

Come join a group of fellow real estate investors who are looking to change our lives through real estate. As a bonus, Big Head Brewery offers some great options for craft beers.

Post: Wauwatosa/Milwaukee Real Estate Investor Meetup

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99
@Jeremy Lee Yes, it is.

Post: Buy and Hold Properties

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99

To date, the absolute best book I've read regarding this would have to be Brandon and Heather Turner's book "The Book on Managing Rental Properties" 

Post: Creative financing with helocs?

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99

Hi Brian, 

The answers to your questions are Yes, Yes (with some conditions), and Yes (with some conditions). You can rinse and repeat this as long as you are buying deals at a discount that will allow you to refinance enough to payoff your HELOC draw and leave enough equity in there to meet the bank's conditions. Also, you will eventually need to get creative on the long-term financing as you will inevitably hit the bank's cap on mortgages.

Post: Wauwatosa/Milwaukee Real Estate Investor Meetup

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99

Come join a group of fellow real estate investors who are looking to change our lives through real estate. As a bonus, Big Head Brewery offers some great options for craft beers.

Post: First steps toward real estate investor

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99

It sounds like you are taking one of the most important first steps: acquiring knowledge about real estate investing and the different forms that it can take. While you do this, I would suggest a few things: 

1) Figure out a way to be stockpiling away money. Regardless of the path you take in real estate, money is going to give you more options. If you haven't read it already, "Set for Life" by Scott Trench provides some good ideas on this from both a life perspective and a real estate perspective. 

2) Identify your "Why". What is your end goal that you think real estate will help you achieve? Do you want to make real estate your vocation or do you want it to be a means to help you achieve the freedom to do what you want to do (ex. travel)? This "Why" is important for two things. First, it will help keep you motivated when you run into struggles with real estate investing. Second, it will help you decide which avenue of real estate investing you want to pursue and it will keep you focused on that. That brings me to my third suggestion.

3) Identify what real estate investing strategy you want to follow and concentrate your efforts learning the niches of it. And remember, this strategy should be directly tied to your Why. For example, if you want to use real estate investing as a means to support you financially while you travel, you'll likely be looking for a much more "passive" real estate investing strategy (ex. buy and hold). If you are looking for real estate to be a vocation, you may be interested in fix and flip (not to say that you can't eventually develop a fix and flip business that is passive). 

4) Once you've identified the strategy you want to use, write down your SMART goals of how you are going to leverage that strategy to achieve your Why. Revisit these goals often and keep them in the forefront of your mind.

Wish you the best of luck! If you want to chat further, just message me.

Post: New to BiggerPockets, not Investing

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99

Hi Jay - welcome to BP. This is a great place to get to know other investors and its offers a plethora of knowledge and strategies. 

Post: Will work for rent.... Yes [] No[]

Josiah KayPosted
  • Rental Property Investor
  • Wauwatosa, WI
  • Posts 156
  • Votes 99

Add one more to the "No" tally for all the reasons detailed above (especially liability).