All Forum Posts by: Simon Ashbaugh

Predicting the market with guaranteed accuracy is notoriously difficult. While a correction or even a recession is within the realm of possibility, stating 20-50% losses across all asset classes for the next five years is a strong prediction with no underlying evidence or analysis. While some sectors might be at all-time highs, others might be offering value. I say do your research in the market you choose to invest in and decide from the results you get.

Quote from @Pradeep Velugubantla:

Thank you so much, Simon and Trent!  This is extremely helpful.

If I choose to establish an LLC, would it matter which state it is from? Do you know what things I should consider?

You're welcome! If the properties you're buying are all in one state, forming your LLC in that state makes sense for convenience and cost. There's no need to deal with 'foreign' LLC hoops elsewhere. However, if you're leaning towards owning properties across different states, I'd recommend choosing a state known for being investor-friendly. Think Wyoming, Nevada, Texas, or Florida, their laws and taxes tend to be kinder to real estate investors. I would advise consulting a lawyer or tax professional specializing in real estate LLCs for this.

Quote from @Sino U.:

Hi, 

As title states, I would appreciate if you all could drop your recommendations on real estate agents that you have worked with or know, that are good at their Job in Columbus OH Market. I obviously connected with one one agents from BP community, but want to do more due diligence and talk with others. Would appreciate any leads help.

Thanks

 Hey there Sino, Columbus is a standout choice, with the city experiencing impressive property appreciation surpassing the national average. Plus, Ohio's landlord-friendly reputation really boosts its overall appeal. I'd love to connect with you.

Hey Pradeep, welcome to BiggerPockets! If asset protection is a top priority and you're serious about investing, choosing an LLC is a good option. But if you're unsure or just starting out, wait until after buying your first property. You can always form an LLC later if you decide to continue investing. Adding your first property to an existing LLC is simpler than forming a new LLC and transferring ownership later.

Given your lack of experience with long-distance property purchases and the specific dynamics of the Indianapolis market, finding a reputable real estate agent is highly advisable. Look for one specializing in working with out-of-state investors and has experience with investment properties. Interview several agents before choosing one you feel comfortable and confident with. A good agent can be an invaluable asset throughout the process, saving you time, money, and headaches in the long run. 

Hey there Lythe, welcome to BiggerPockets! This is surely the best place to start learning about real estate and expanding your network. I recommend that you read The ABCs of Real Estate Investing by Ken McElroy. This classic book is a great starting point for anyone interested in building wealth through property investment. It's known for its straightforward and practical approach. Tune in to the BiggerPockets Podcast too, you'll find it educational. All the best!

Hey Haim, I wouldn't recommend flipping in Akron. Opportunities for flipping houses are more favorable in most areas of Cleveland, particularly on the west and south sides with some potential on some parts of the east side as well.

Hi Jenish, welcome to BiggerPockets! You've landed in the perfect spot to kickstart your networking and learning journey. I suggest that you tune in to the BiggerPockets podcast if you haven't already. You'll find it very educational. Expanding your network, exploring social media events and connecting with local lenders and brokers will all be beneficial for achieving your real estate goals. Have you identified a specific strategy for your investments yet? That would be the first step.

Hi Christine, welcome to BiggerPockets! It's great to hear about your interest in real estate. For starters, be sure to tune in to the BiggerPockets Podcast and connect with the local lenders and brokers. Attend your local REI meetups to build up a strong network and feel free to reach out and connect with everyone in the community. Lastly, Identify a strategy, choose a market that aligns with it and establish your Core 4. It will be beneficial to achieving your goals. All the best to your real estate journey!

Househacking is the way to go along with an FHA loan which offers a low down payment of 3.5%, it is ideal for house hacking in multi-unit properties like duplexes or triplexes. This allows you to invest in real estate sooner while occupying one unit and potentially renting out the others. As you make mortgage payments and collect rent, the property's value can increase, building equity for future investments.