All Forum Posts by: Josh Calcanis

Welcome to the forums! Amazing job on starting your own business and (most importantly) making it profitable. We can relate because I'm 26 and got into REI a year ago. I only have 4 units as of now (SFH and Triplex). First off before anything else (just like with your business) you need to really think about what you want to do with REI and what your end game is. If you dive in expecting to do everything you might end up getting that 'job' feeling again. Also if you know what you want at the end of the road it's going to be a lot easier to work backwards and create a game plan. I wish I would have started at your age!

If I would have started at your age with 30k I would have done a live and flip (or buy hold). The reasoning is someone else is paying your mortgage and you're living in a home free of charge. The really important thing there is to run the numbers! Are you going to have a positive cash flow (or breakeven when your living there) while living there and are you going to have a positive cash flow when you leave? By living in it you can also put much less down and use the rest for a flip to see if that's something you're a fan of.

Everyone has a different opinion on the real estate license. The podcast from two weeks ago, had a guest that was all about it. IMHO it allows you access to MLS on your own time and gives you the ability to wholesale, which can be really tricky if you don't put some effort in (but what doesn't demand some extra effort). Met a man last month at one of our local REIA meetings in Seattle, Anthony Chara, that has never got his real estate liscense and hasn't managed properties (uses a PM) and is sitting at 200 units over 10 years. It really depends on whether or not YOU think it's worth it for what YOU want to do.

Good luck with everything.

Thanks!

 Chris Nice work!

I've been looking into different ways to get creative with the financing and this was one of the ideas that came up. One thing that stuck out and I was curious about was whether a bank could call the loan due if the deed swaps hands. Have you had any problem with that?

Jim is the Multi-Family still available?

BP,

I'm currently looking in Orlando (where my first SFH is) and Seattle for my next couple of deals. While searching Seattle, I realized it wouldn't hurt to introduce myself to a local CPA and Attorney that were more familiar with REI.

Does anyone have any recommendations for either in the Seattle, WA area?

Thanks Zach! I'll keep them in mind.

I'm look for something around 9.5 -10% because I plan on having it paid off within a year to 5 months.

Thanks Alex! Just reached out to Enrique.

I'm looking for the management of anything from 20 units to 50 units. So Small to Mid.

Also how do you tag other members in posts like that?

I'm currently looking for a multi-family in or around either Seattle WA or Orlando FL. I already a management company in the Orlando FL area helping with the SFH I have, but would need one for the Seattle Area.

Thanks!

Kathleen I'm interested: [email protected]