All Forum Posts by: Thom H.

Brent, Welcome to BP! Good to see the Virginia contingent growing!

Robert, I don't know how I missed your new member intro a few weeks ago. My apologies for not welcoming you sooner! I actually stumbled over this post just today. I'm also in the Lynchburg area. Good to finally see another local on BP. I have rental properties in Lynchburg and Campbell County. The area is a little slow these days on deals, but its a small market, so you have to be ready and move quickly when the good ones do hit the market. Just wanted to say hello and welcome to BP. If I can ever be of assistance, don't hesitate to holler.

Steve,
Welcome! I'm in the Lynchburg area. I'm more of a buy and hold guy, but not averse to an occasional flip or fix and rent. There are many ways to be successful in this business. Find your niche and work whatever angle works best for you. Best of luck!

MaryBeth,
Welcome! I'm south of you down in the Lynchburg area. If you like REI you will soon find this site addictive. There is more RE info here than any other site on the web. The quality of information is fantastic. Wish it had existed earlier in my investing career. I've been on the site about a year now, and I'm still soaking up information. Read as much as you can in your spare time. It can save you a lot of mistakes when new at this business. I've been investing in RE for a long time, but there's info for all levels here. Best of luck!

Joshua,
Great read! Very nice work. I'm forwarding to my two twenty-ish year old daughters immediately. Both have expressed interest learning "Dad's side business", but like all twenty year olds, they sometimes struggle to grasp concepts when Dad explains it. This is a great introduction to some relatively complicated topics, that anyone can understand. Again, great job and thanks for the efforts you and others put into this document.

Joshua,
I'm a long time RE investor, but I've got two 20 year old daughters, that I'm trying to get jump started into RE as a long term investment strategy. They would very much benefit from this type of information. Can't wait to read it myself, and put it in their hands. Looking forward to it!

Jay,
Welcome from another fellow Virginian. I'm down in the Lynchburg area. Congrats on recognizing the benefits of RE at such a young age! You're well ahead of most of your fellow graduates already. I'm a buy-and-hold, primarily multi-family type investor. I look forward to possibly corresponding from time to time. Again, welcome aboard!

Thomas,
Welcome to BP. Great website. I'm a few hours south west of you, but there are others that will likely reach out to you closer to NoVA. Try the search function under the Networking tab, and use the Find Members function. You can then search for local members by market area (city/state). You can then connect with local members by reaching out to them. Best of luck and welcome!

It probably varies by area and LLC purpose. In Virginia, if the LLC is strictly a RE investment organization, you form the LLC, get an EIN, and business licenses are local to counties and cities and not required for this purpose. There are professional business licenses provided at the state level for realtors and other professional careers, but are not required for a simple RE investment LLC, which is typically setup to primarily provide a means of limited exposure to assets. Hope this helps, and it was the type of LLC you were discussing.

I'm getting older, I'm still investing, and loving life...so something is definitely working! I'm on the F&C old timer track. I won't have 2500 properties, but I will absolutely be enjoying a passive investing retirement in three more years! Although I like to think of it more as my next career stage...just a much more fun career stage that will include a lot more vacations!