All Forum Posts by: Ryan Garrison

 Hi Kyle, 

I am in Olympia. Message me and let's get a coffee to talk about it. I will help however I can. 

Ryan

Just a quick reminder 

https://youtu.be/wjJ4wlTLO6g

I would add, that if you are a landlord in a dark blue state - the costs to evict a bad tenant from your property have gone through the roof as well. 

I have started the process of selling my rentals in WA, and plan to acquire larger assets in other markets.

As far as relief, your network is your net worth. Private lending and seller financing to control the cost of money. 

@Michael Poloncic

It is very possible.

First things first, they need to see how much of their entitlement they have used.

@Mary Ainsworth

First, do option 1. If you break even, you live for free.

When you live for free, you can accelerate your acquisition rate. You can afford to make mistakes. You can learn what other methods you want ot don't want to do in the future.

If I didn't have the pressures of kids & spouse, house hack first.

Every day, and twice on Sunday.

@Atul Mohlajee

Ask attorney if you can invalidate the lease for a fraudulent application

When you start making good money, think about S corp, paying yourself as W2 with taxes, social security, etc. 

I am not a tax professional, financial advisor or attorney. Talk to those guys for licensed advice :)

Howdy Jackson, 

As a multi-tool real estate investor, landlord, and agent, I'm glad to hear you're interested in the world of real estate investing. It's a rewarding journey, but it's essential to be well-informed and prepared before diving in. Here are some steps to help you learn the ropes before making your first deal:

Start by reading books, articles, and blogs on real estate investing, focusing on various strategies like rental properties, house flipping, wholesaling, and commercial real estate. Some of the more popular books to consider include "Rich Dad Poor Dad" by Robert Kiyosaki, "The Millionaire Real Estate Investor" by Gary Keller, and "The Book on Rental Property Investing" by Brandon Turner. Education is paramount. Learn creative finance - because you don't have credit - and you will love creative finance even more when you do have credit.

Attend REIAs and MeetUps to gain firsthand knowledge and insights from experienced pros, and network. Websites like Meetup, Eventbrite, or BiggerPockets can help you find relevant events near you. We have one in WA on FB and Meetup.

Keep engaging in forums like BiggerPockets or Reddit's r/realestateinvesting, where you can ask questions, share your experiences, and learn from others.

Stay up-to-date on market trends, legislation, and tax laws that may affect your investments by subscribing to industry newsletters, podcasts, or YouTube channels.

Building a network of knowledgeable professionals, including real estate agents, lenders, contractors, and property managers, can provide you with invaluable guidance and resources. This leads me to...

Find an experienced real estate investor to mentor you. Shadowing a mentor can give you a better understanding of the day-to-day operations, challenges, and decision-making processes in the business. Offer to help them for free, just to be in the room. If you bring investors deals/opportunities, we will usually show you a lot.

Familiarize yourself with various financing methods, including traditional mortgages, private lending, hard money loans, partnerships, and especially SUB2 & SELLER FINANCING.

Research neighborhoods and areas you're interested in investing in, paying close attention to factors like property values, rental rates, vacancy rates, and local economic indicators.

Set clear goals and create a roadmap that outlines your investment strategy, financial projections, target properties, and exit strategies.

Consider starting with a smaller, lower-risk investment like wholesaling, or getting your RE Agent License to build your experience and learn from any potential mistakes. Having lots of conversations with sellers will speed up your learning curve in acquisitions.

Remember, real estate investing is a journey that requires patience, persistence, and continuous learning. Stay focused. The grind is worth it. 

There are some degrees that apply pretty well for RE Investing - but picking one would depend on your strengths/weaknesses and personality profile.

If you do not know what those are, take some time and do some of the tests. Predictive Index, Strength Finder, Etc.

I still think college is a great place to go, especially with having it paid for because of: 

1. Networking. Being in the right major, dorm, clubs, fraternity, can give you the connections to accelerate the next chapter of your life. 

2. Maturity. People, especially young men, could use a few years after high school to find themselves. 

3. College does not stop you from investing. Invest while in college. Have your parents help you buy a househack-type property when you can live off campus. Wholesale while in college. You do not have the debts of life, family, etc yet, so use this time to start building your empire, and finding out who you really are.

Those are 3 of the top places I would like to buy in when I sell my WA rentals. Hopefully 1031 into seller financing. Multi-family, storage, or STR type of properties.