All Forum Posts by: Account Closed

Welcome to BP and good luck!

Don't hesitate to reach out if you need anything @Jyvaris Wooden

@Nicole Pettis I never though of adding something to the paint, interesting. Thanks for the tip!

Welcome to BP @Moe Abdul!

@Brandon Timm welcome and congrats on graduation!

House hacking is the way to go. Save as much money as you can and protect your credit score.

@Gregory Pugh Welcome to BP!

@John Gaber Welcome to BP!

I am a buy and hold investor of single family homes. I like these because they are relatively easy for me to manage while having a full time job. I buy in good school districts and for the most part I get long term tenants. I have been lucky and my tenants take have taken care of the houses (screen screen screen!). I also like single family because there is a bigger market for buyers if I ever get in a jam and need to sell. The big downside to SFR is if you do not have it rented you are on the hook for the full mortgage payment while a muli unit if you have one unit unrented you still have the other units bringing in money taking care of part or all of the mortgage.

I personally do not have an interest in 2-4 units because I do not want to have to manage issues between tenants (ie noise complaints), traditionally you have a higher turnover rate,  and I don't want to have to worry about the lawn or plowing the driveway. I am however looking to buy a larger multi unit (around 10 units) and have a property management company run it but I am still learning more about the process.

Best of luck!

@Cody Barrett I had a very similar discussion with my lawyer a little while back and started wit one property in the LLC. It is inexpensive and easy to file in Ohio so it was a no brainer at the time and now that I have a few properties its makes life easy already having something set up.

My lawyer also said it is fairly easy to add more layers and holding companies if you continue to grow and need to separate yourself a little more. 

I am an investor and recently got my license for the same reasons you mentioned, also to force networking and get more involved in real estate. 

I would advise you start meeting with brokers. I am like you in that I am not interested in being a full time agent. I found a great broker that sponsors a lot of investors and does not require desk time or office fees or anything like that. 

Maybe you can find one in VA that is similar and while you wait the three years you can find yourself some deals and get some commissions. I though about becoming a broker originally but now I really like the access and freedom I have as an agent.

Best of luck!

@Walther Arias Great post! Always good to read a positive post to remind myself to not let critics or negative people effect what I want to do. Thanks for sharing!

Also like the part "I said Bad-ish because every mistake is a lesson learned." Great outlook!

Good luck moving forward!

Welcome to BP!