All Forum Posts by: Jared Lichtin

I worked in oil & gas for a long time, and I think the fact that oil prices are still low is supporting the market.  That being said, if things take a turn for the worst in the Middle East, oil prices go up, and we are in an election year (unpredictability) Things could get real bad for the stock market next year.  Hopefully that pushes alot more private money into the real estate sector :)

I have driven the same car since I was 15.  2001 Honda Civic LX.  170k miles, and still runs great!

If anyone would like to hear a good job quitting story, and how I created a business flipping houses while lawyering for a big law firm, I am today's episode 196 on How to Quit Working. I didn't get that much time to talk about my podcast, or house flipping business, but it was an extremely engaging interview that allowed me to share my insights and issues with life in the corporate world, and explain how I used house flipping as an avenue to quit my job & focus on my real estate investing full time. Enjoy :)
http://howtoquitworking.com/flip-houses-and-quit-your-job/

https://itunes.apple.com/us/podcast/how-to-quit-wo...

If anyone would like to hear a good job quitting story, and how I created a business flipping houses while lawyering for a big law firm, I am today's episode 196 on How to Quit Working. I didn't get that much time to talk about my podcast, or house flipping business, but it was an extremely engaging interview that allowed me to share my insights and issues with life in the corporate world, and explain how I used house flipping as an avenue to quit my job & focus on my real estate investing full time.  Enjoy :)
http://howtoquitworking.com/flip-houses-and-quit-your-job/

https://itunes.apple.com/us/podcast/how-to-quit-wo...

Jesus @Jay Hinrichs that's just incredible.  Like I said in the interview, it's a state specific law, and states like Ohio can prosecute this activity in any manner they want to in relation to the way the statutes are written.  It's so crazy networking with investors from other states and finding out there are either similar problems or totally different issues depending on the politics in that particular state.  Doesn't seem like they want to make it easy for you up in Oregon & Washington.   

(Episode 403)^^^

@David Ward@James Wise

@Jay Hinrichs @James DeRoest & @Hattie Dizmond... I am an attorney in Ohio, (Licensed in TX but living & investing in Ohio) and I recently was interviewed on The Red Pill Investor w/ @Karl Krentzel discussing this topic.  Basically, the answer is going to be different depending upon the state you are wholesaling in, but you want to be licensed if you are doing an extensive amount of wholesaling in a state that is cracking down on the unlicensed practice of real estate (Like Ohio & Florida).  I am including links below to the interview, and furthermore, I will say that while I don't wholesale, I flip properties, I understand that what the state is likely doing is cracking down on unlicensed practice of real estate because the amount of complaints the board of real estate is getting on MISREPRESENTATION, FRAUD, UNLAWFUL COMMERCIAL PRACTICES, Selling/Buying/Assigning a contract to real estate without license, receiving commission without being licensed, etc.  In Ohio, these statutes have been broadened to include a heck of a lot, so pretty much anyone receiving 'commission' for the sale of real estate SHOULD be licensed... but it doesnt get caught every time.  You can be fined with civil penalties as low as $500-1000 but they are calculated per act and per day, so the courts can be pretty broad even with first time offenders.  Also, if you're interested, I released the interview on my podcast as well, which teaches house flipping.  Constructive feedback is welcome on ALL FRONTS!  Hopefully I shed a decent amount of light on Ohio wholesaling! 

https://itunes.apple.com/us/podcast/the-red-pill-i...

http://www.biggerpockets.com/forums/517/topics/186...

Welcome @Louis Puma!  You are in the right place!  Some perspective on how long it took me to get all in, after finding BP in 2011, I started investing in 2012, and now, have made lifelong connections with lenders & other contractors through BP.  A truly invaluable place to be. 

To me, it all depends how hands off you could be.  If you don't have an older building that wont have much maintenance then it might be ok.  Also, it depends if your tenants are good, pay on time, communicate well with you... all in the intangibles.

That's awesome @Christopher Devine!  It's so much easier to start managing a few rentals first because you get to realize what things cost to repair, what good work looks like, and how to find good contractors, etc.  Much easier transition for you rather than just jumping right into rehabbing & remodeling properties.  Great resources here on BP.