All Forum Posts by: Joshua Hively

@Pat Murtha Welcome to BiggerPockets. I have always been interested in the vacation rental space. Especially in places such as the Hocking Hills and Appalachia in general. I have met a few folks recently who are active in that market and I am planning on following up and seeing what their experience has been. I would be happy to forward you the contacts of these folks so you can reach out, as well as a referral for a short term rental consultant who may have some insight.

@Anson Brown Welcome to the party! I wouldn't worry too much about the LLC at this point. A lot of people put off getting started because their not sure how to structure. Keep in mind you can always transfer property into some legal entity down the road if that's what you decided(with some exceptions). And as @Brandon Sturgill mentioned, trying to get lending for an LLC is often an issue for newbies. I have to agree with @Mitch Deminski as well. If you are planning on using a property manager, might as well get their help from the beginning. Their experience could save you a lot of headaches. I am happy to refer my attorney if you are interested.

@Jermaine Perry

Welcome to the forums. I found it most helpful to read up on all of the different strategies and choose the one that would help me reach my goals. Once you decide on a particular strategy then you can dive in and start to analyze deals accordingly.

@John Stark Welcome to BP. I enjoy chatting with young people just getting started. It helps me stay focused on the fundamentals. I must admit, prior to a bit of Googling, I was wondering how big a plant that makes thin crisp wafers could actually be. Are you down around Belmont County? Real estate, in my opinion is one of the best possible investments. There are so many advantages that don't come with other investment vehicles. That being said, at your age if you remain disciplined in your investments the vehicle almost doesn't matter. Real estate is best used as a get rich slow investment. Its good that you are already interested in local economics but be sure not to avoid the macro. For instance, assuming the new plant will raise property values in that area, will they outpace normal inflation of other nearby markets such as Cleveland, Columbus or Pittsburgh. You can also look at market trends of other places with similar industry. I would try to avoid speculation and make solid fundamental investment decisions. All of the following ideas are discussed in detail in @Scott Trench's book "Set for Life" . Consider starting a career in real estate find someone to work for who will pay you and teach you. One of the best ways to get your first property is house hacking. Using a low down payment loan for a property up to 4 units that you will live in. Investing money into the market is usually worthwhile. I would consider opening a vanguard mutual fund account and just leaking say $100 month there automatically forever. Focus on aggressive savings to build capital for investments. A few years of aggressive savings now could say you decade of unnecessary work in the future. This response was quite the ramble but hopefully you will find something useful.

@Austin Underwood Welcome to the forums! I recommend checking out some of the local meetups. I will send you a message with some of the upcoming ones you may be interested in.

@Thomas Neff Welcome to Bigger Pockets. You team is definitely important. Try connecting with a good agent who is familiar with off market deals. The other thing that has helped me starting out is narrowing down my search area and analyzing a lot of properties. Feel free to reach out if you are interested in referrals or have more specific questions. 

This is a meetup for Newbies! We understand that other meetups and associations can be intimidating. Sometimes it feels like everyone in the room knows WAY more than you do. It can be embarrassing to speak up, ask questions or network. Not here. At this meetup, everyone is new. We'll support and encourage each other. We'll problem solve and grow together.

Often times the best deals are found in some sort of distress and need some love. Ever wonder about how to find contractors, estimate rehab cost, or the nuances of managing a rehab? Then this is the meetup for you! This month we welcome seasoned investors who will share their insights on all of these questions, offer proven estimating tools and dive into your questions. You can plan on leaving this meetup with actionable information and documents to further your investment goal.

Hope everyone was able to leave today's meeting with a much more thorough understanding of your financing options. If you have more questions, feel free to post here or reach out to Marc or Casey. Next meeting is July 21st. Stay tuned for updates on that!

Looking forward to seeing everyone tomorrow.

@Sam Schwab Welcome to the forums. Sounds like you have a pretty good vision of where you are headed. I also hope to be able to get back to some service trips over the coming years. I would love to hear more about the farm business. Both things that I enjoy! As you already know, there is a lot to be gained from hanging around folks here. If you have questions, ask. Feel free to reach out to chat more or if you need any referrals.