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All Forum Posts by: Joshua Hoffman

Joshua Hoffman has started 3 posts and replied 16 times.

@Jing Zhou DM me for some Realtors in the area. I live in Akron and know quite a few who can help you out.

@Ben Stoodley thank you for the thorough information, that is a great insight, I appreciate the mentioning of how COVID has shaped the industry right now

Post: Contractors in Northeast Ohio

Joshua HoffmanPosted
  • Posts 16
  • Votes 9

@Zeke Liston thank you, I'm looking mostly for basement work

@George Despotopoulos fantastic information! Thank you. I’m a numbers guy and this is exactly what I was looking for. I appreciate your honesty and openness to the process.

Post: Contractors in Northeast Ohio

Joshua HoffmanPosted
  • Posts 16
  • Votes 9

@Steven Wilson actually I speak a little Spanish. Not enough to hold a full blown conversation but I can get by.

Post: Contractors in Northeast Ohio

Joshua HoffmanPosted
  • Posts 16
  • Votes 9

BP Family! Does anyone have any recommendations for a contractor(s) in Northeast Ohio? Looking to build my team as well as some work in my current home. Thank you in advance!

Thank you @Jody Sperling this is great advice! Planning and research was definitely top of mind for me. Everything I've read and listened to has echoed that. Last thing I want to do is be behind the 8 ball on a hard money loan 

I'm new to the game and have some questions around Hard Money Lending. I am considering using the BRRRR method to get started in real estate investing. Is utilizing Hard Money Lending specifically with this type of process a good decision? I am basing my thoughts around not having a lot of cash reserves(enough to do a conventional loan) and also the reality that most conventional lenders will not loan for flips/major rehabs ie roofs, HVAC, CapEx. How hard is it to find a hard money lender willing to lend to a "newbie"? I've done my research and know the exit strategies I would use but is it worth it? What does a typical "closing" look like with HML vs conventional? Thank you in advance for any information.

Post: Flip Vs Rental to build Capital

Joshua HoffmanPosted
  • Posts 16
  • Votes 9
Originally posted by @Martin Lindsay:

If you can access some working capital through a HELOC I'd 100% do it. If you and your wife both have stable and sufficient income to support your living expenses, then I'd use that investing capital to do the BRRRR strategy.

If you're looking to jump in full time, doing a few flips to generate that working capital may be a better option. 

Thank you Martin, this is definitely going to be an option that we explore.

Post: Flip Vs Rental to build Capital

Joshua HoffmanPosted
  • Posts 16
  • Votes 9
Originally posted by @Remington Lyman:
Originally posted by @Joshua Hoffman:

@Steven Foster Wilson Thank you for the advice, I had considered a quick re-sell but the HELOC option sounds like a possibility as well. I have to run the numbers to see which is the best for our situation. Thank you again for the input! If we are in Columbus I'd love to meet up and grab lunch when everything slows down.

Columbus, Ohio is a great place to visit. Try to come during a Buckeye game day. 

@Remington Lyman That would be great! I'm not the biggest sports fan but I've heard that it is an experience nonetheless.