All Forum Posts by: Patrick Burch

Very interesting.  I keep getting my initial perception reinforced that everyone does things their own way for their own reasons.  I'll keep plugging ahead!  Thanks Zach.

@Zach Zimmer thanks for the name. It seems to be harder to find a real estate minded CPA around here than anything else. Might I ask what entity you, or others you invest with, use for flips as well as rentals? My strategy is to get into at least one rental right off the bat as well as a flip within the first few months to build up some cash. I haven't done any deals yet so I want to get my entity formed so I can be in a position to jump on a deal when it makes sense. From just being on the BP discussion boards as well as listening to podcasts my plans include an LLC for the rental but for the flip business I want to learn more about the corporation to avoid some of the self employment taxes. Any input is greatly appreciated. And yes I will definitely be speaking with an accountant either way, I'm just curious what others are doing.

I have been asking around my area trying to find a good lawyer and accountant that has some experience dealing with real estate investors in my area.  Of course everyone has their favorite lawyer, or Uncle Bob happens to be a CPA, but I wanted to get some feedback from locals on BP.  Anyone else investing in the Akron, Wadsworth, Barberton, Norton areas that uses a lawyer or accountant that they would recommend for other investors in the area?

House hacking and a live in flip seem to be very good strategies.  Looking back a few years on my own situation makes me wish I had heard of BP and learned about these strategies when I graduated from Akron.  One thing about a live in flip is a big part of the flipping game is timing.  You don't want to live in the flip project for too long (too long is defined by your market).  If the market dives when you are halfway through a flip that is taking 2 years when you thought it would take 6 months you could have an issue on your hands when trying to resell.  Assuming you bought a good deal you could always plug some tenants in though.  If you have listened to the podcast I think this is actually Brandon's first experience.

Best of luck!  I'm only a hop skip and a jump from Kent so I am curious to see how you do with this!  I am looking for my first deal as well.

I don't know if you are a contractor yourself or if you would have a contractor do the work but GLT Products offers soundproofing materials either directly through their company or through a sister company, Sound Acoustic Solutions. Even if you can't buy direct I'm sure they could get you in touch with a distributor in your area. Insulation will provide some acoustical relief as an absorbent which will definitely help. Absorbing the sound is only half the battle, however. To truly "sound proof" you need a barrier to block the sound from passing through at all. Vinaflex is a mass loaded vinyl that acts as a great sound barrier. There is also a similar product for flooring called QuietImpact floor underlayment. It all depends how involved you want to get in the project and what level of sound proofing you are trying to achieve.

Greetings everyone! I am brand new to the real estate game from Norton, OH just outside of Akron. I stumbled upon the Bigger Pockets community when I started looking for good real estate podcasts to listen to on my way to and from work each day. I have been very impressed with the entire organization and the community they have formed so I am excited to jump in!

I am interested in single family or multi family rental homes in Barberton, Norton and Wadsworth right now. These communities are close for me, I have lived here for several years and I actually have some involvement / connections within these communities that could prove to be beneficial down the line. I look forward to many years of involvement in the BP community!

Thanks everyone!