All Forum Posts by: Josh Falk

I live in Moore county and this has been a hot debate in our area at the moment. Some long term residents have been complaining about short term rentals in their neighborhood. But at the same time we are a tourist area with a shortage of hotels/rentals/ short term housing. And the city does recognize that.... Ultimately this has been coming up at board meetings over the last 6 months and I would expect some sort of regulations in the near future. I would recommend scouring "The pilot" it's our local newspaper and they have had articles on this issue with summaries of the board meetings. 

Josh Falk 

Unfortunately I work a night shift at the hospital and cannot make it. I was looking forward to the next meeting to see if anyone has any recommendations of a local property manager. Thanks in advance. 

Josh falk 

Anyone have any good advice on how to choose a property manager. Any bigger pockets books on the topic or blog post? Not interested in self managing looking on cutting down my current hours working each week. TIA

@Haley McLaughlin

Thanks for the tip

@Dmitriy Fomichenko

I am a big WCI follower so that sounds like a perfect plan to me in the meantime

@Dmitriy Fomichenko

No, I do not have one yet. My wife and I have been maxing out all of our 401k and 457 accounts thus far. So I will be starting from scratch. And yes I was aware of the $6,000 limit per year. I've come across syndications with 25k minimums (haven't done any due dilligence on whether they are good or not), but I figured I was three or four years away depending on the returns I have until then.

However, with having the money in roth ira and not being taxed on my gains I figured it would be worth it in the long haul so just trying to get all my puzzle pieces aligned.

Thank you both for the information.

From my understanding the best way to start is simply to open an ira at fidelity. Do a roth conversion there and then transfer the money to a SD Roth account at another custodian who allows real estate syndication investments 

I'm in the learning process about getting into real estate syndication. From my understanding you can invest money from a SD Roth account. Here are some questions I have regarding this.

1. Due to my W2 income I have to fund a roth IRA through the back door. Am I able to back door fund a SD Roth? Where is the best place to do this that would have custodians available to help invest this money into real estate. (Most of my retirement accounts are at fidelity so it is convenient to work through them, but I am not sure they offer this)

2. If I started funding money in a SD Roth account one platform and didn't like it am I able to transfer over to another one.

Off topic questions.

What books do you recommend reading when getting into syndications

How did you learn to do your due dilligence in evaluating syndication

How do you compare the small town syndication with the nationally known ones

TIA

@jorgecrespo very good points. Thank you

I have been looking to get into real estate as a side hustle. My wife and I make a pretty good living but we are just looking for some passive income on the side. Because of this we don't have to rush into any purchases to help put food on the table.

For the people who have much more experience in real estate than I do, and have been doing this much longer. What is the general concesus on the current market prices (I know this can vary by location, but I am in Pinehurst, NC)

Do you think we are in market peaks and due for a recession in prices in the near future or is this just appreciation as usual? Meaning if I dont buy now prices will just be higher again in a year?