All Forum Posts by: Jonah Lamour

@Jonah Lamour

From my knowledge no you wouldn’t get taxed differently. It’s straight forward, establish a team and start offering

Contact Josh Isbell in Waco. He can definitely help.

@Jonah Lamour Fix/Flipping is an awesome strategy, but have you considered house hacking? House hacking allows you to gain first hand experience in land lording, property maintenance, screening tenants, etc. You'd ideally be winning in the "rent savings" department, but also be cash flowing each month. When you don't have to pay rent, you free up cash from your largest monthly expense to go towards other things. A lot of successful investors start this way. PLUS, you're often times able to put low % down due to using an owner-occupant loan.

 If you are absolutely set on fixing & flipping, yeah, it honestly sound really sexy but let me tell you...they can get real ugly real fast if you're not managing the contractors & supplies well, staying on top of timelines, and running your numbers with significant room for error. 

This probably wasn't the answer you were looking for, but hopefully it helps in some way!

Network with other local investors!!!! I am part of a group of 6 buy and hold investors in Danville, VA who each have their own portfolios but act and keep everyone else involved like it was a partnership! We all became best friends and share ideas and leads with each other. No way can we buy everything available so we pass deals on to each other and grow everyone else's portfolios. We work for ourselves and each other, makes for a competitive yet encouraging atmosphere where we celebrate the other's accomplishments. We have over 150 units between us, far far more deals than doing everything alone.

@Joseph R. Smith

For me... Too many deals right now... Not enough money. Forcing me to look for other means of capital than I have used before.

With that said, I would find the big players in your market, take em to lunch and ask em... "If you were in my shoes, what would you do?"

Then... DO EXACTLY WHAT THEY SAY! (Most people skip this step)

Are you considering house hacking? What types of deals are you looking for? What are your goals? Why realestate?

@Jonah Lamour our most recent deal we purchased I got from making a facebook post. I basically said we are looking to buy homes in any condition and if they (any of my friends on facebook) provide a lead that results in us buying a property we will give them a $1000.00. I received 6 leads within 2 hours and ended up getting one of the properties under contract that week and closed shortly after. The lead provider got a $1000.00 and I saved hours upon hours of cold calling and or driving for $$. I also still get messages from friends sending me potential deals.

@Jonah Lamour my favorite way is through networking. You can still join virtual meetup groups to get to know the big players in the area. Best of luck!

Partner with others. For example, I am looking for the opposite. I'm finding places in my neighbourhood that look like great potential flips, but I don't have the cash or experience to do it, so I would need to find someone looking to flip, and partner with them. If you can connect with people who live near where you're looking to buy, that can be on the lookout for you, that could work well, and help someone to get their start.