All Forum Posts by: Joshua McMillion

@Account Closed

Thanks for the clarity. I will reach out to my friend that is a lawyer and get his opinion. 

Sincerely, 

Josh

@Saad Mushtaq

From my understanding, you have to live in the property for one year if you are purchasing an owner-occupied property. Check out this article. 

https://mymortgageinsider.com/

Sincerely, 

Josh

@Orlando Asem

I'm not familiar with the Colorado market, but I could help in providing some guidance. Start by finding the local forums on BiggerPockets at look through the past comments, and start contributing to the forum. Second, look up the meet-up in Colorado using the link below on BiggerPockets. Third, start sending messages to individuals you think you can assist and ask how you can help them. Forth, join the BiggerPockets Facebook and other local groups. Last but not least, find a mastermind group. 

Sincerely, 

Josh 

@Ashley Powell

I'm glad I could help! Please don't hesitate to reach out in the future if you have any other questions and you think I could help? 

Sincerly, 

Josh 

@Athena Cave

I'm glad I could help! Please let me know if there is anything else! 

Good luck 

Sincerely, 

Josh

@Eseta Fuiava

Legal Zoom will work for the creation of the legal entity. However, I highly recommended you find a legal professional and discuss what legal entity is best for you and your business. 

Sincerely, 

Josh 

@Athena Cave

That's awesome you took the time for self-development while your husband was deployed. My wife spent her time paying off my loans that she affectionately calls the dumb@#$ loan. 

That being said, your plan is sound. I would focus on one strategy, which is the VA loan. Given the market you will be moving to, the VA loan allows you to purchase up to a four-plex. It also gives you tremendous flexibility by allowing you to hold the property for up to 15 years without paying capital gains taxes. 

Good like! 

Sincerely, 

Josh

@Tiffany Onwudinanti

You first need to determine your market you want to invest in. Do you want to invest in CO or TN or both? After you decide, I would build a team and start looking for a  property that fits your crystal clear criteria. Both markets have their own strengths and weaknesses, and that's something you need to determine for yourself. 

If it were me, I would stay with my parents and start building a team in TN. I would focus on one market and potentially purchase the property before I move. If you have funds now, what's stopping you from investing? 

Sincerely, 

Josh 

@Cassidy Burns

Great thread!

Below are my micro-level REI goals. I sat down with my wife and determined five pillars that are important to us; I call them the 5xF's (1. Family, 2. Faith, 3. Friendship, 4.Fitness, 5. Finance) and we are trying to stay balanced in them all!

2021 Goal: Purchase third investment property; Begin saving for a fourth investment property; Create a logo and brand focused on financial education, mindset, and REI centered around veterans and active service members

Q1: Funds in place for second investment home-Complete 

Q2: Sell investment home in an underperforming market and immediately reinvest in the market I want to grow. 

-Transition to professional software programs

-Develop logo and brand 

Q3: Close on third investment home, for 

-Create a website with a monthly blog

-For LLC and transfer investments into business

Q4: Save 25% towards the fourth investment. 

This was a thread I create that is very similar to this one. 

https://www.biggerpockets.com/...

Sincerely, 

Josh 

@Ashley Powell

Congratulation on the retirement from the military. There are a ton of like-minded veteran and active-duty members doing the same thing as you. You are doing everything write based on your summary. Are you doing the skillbridge program when you transition out? 

Here is a link just incase

Sincerely, 

Josh