All Forum Posts by: Joshua McMillion

@Mark McMinn

I have been looking into PMs in the Chattanooga market recently have landed on Keyrenter and White Water. I don't know if they specialize in section eight, but it's worth a phone call. 

Sincerely, 

Josh

@Account Closed

Great work! Love seeing military members take action. 

Sincerely, 

Josh

@Ian Hurdle

Congratulations on taking the next step in your investing career, especially while you are oversea's. Taking action is hard, but taking action while overseas is a different kind of hard. Sorry, I'm unfamiliar with that market, but I'm excited for you, and please reach out if I can ever help. 

Sincerely, 

Josh 

@Matthew Spence

If I were in your shoes, I would shoot for a finance/accounting to general business degree. Some schools offer real estate-specific degrees, but I am unfamiliar. 

Sincerely, 

Josh 

@Sergeous Anikin

Congrats on going to the BiggerPocket community; let me know how I can help. 

Sincerely, 

Josh

@Ryan Repka

My suggestion is to find an Agent/Investor and build a team if you are focused on that market. Also, don't limit yourself to that one market if you want to break into REI. Look at long-distance investing. A good starting point is David Greene's the Long Distances Real Estate BInvesting.

Sincerely, 

Josh  

@Kevin Velasquez

If you are going to get started in REI, you need to map out your WHY. Look at reading the book Vivid Vision and develop a long-term strategy for success. I am more than happy to share the book for free with audible if you have an account. If you want to take REI seriously, you need to run the numbers on the home you live in and see if the property has good returns and hold it. I have done that with two of my homes, but it plays into the larger strategy of 10 to 12 units before I exit out of the military to generate passive income and allow me to enter multi-family. 

Start building a team now if you do decide to rent the property out. You have time and can conduct interviews with a PM. I suggest looking to use the same agent or brokerage that sold you the home. When you exit the property in the future, you can often negotiate the agent commission due to the relationship established. Make sure you find the RIGHT PM with a good team. That is the most important aspect. 

Sincerely, 

Josh

@Melanie Stephens

I am still growing as an investor, but the worse thing that has happened to me was our current live-in flip recent acquisitions. I purchased the property from a long distance, California to Alabama, and decided to start the REHAB work with a contractor. The price seemed fair, and at first, the work and status updates flowed in regularly. However, once it was time to move and live in the home, the contractor started to make excuses on why the home would not be completed at the agreed time. Having an M.S focusing on government contracting, I knew that I should have placed a cost, schedule, performance contract before the start. Long story short, the rehab was scheduled to be finished on 16DEC2020 but is still going on. Lesson learned, do exactly what David Greene said in Long-Distance Real Estate Investing and place an incentives-based contract on any rehab project you do.

Sincerely 

Josh 

@Cameron Walker

Welcome to BiggerPockets. 

Sincerely, 

Joshua 
@Cameron Walker@Cameron Walker

@Elijah Noel Ellis

The first thing you would do is start reading and learning as much a possible when you have a free second. A good book to start with is No and Low Money Down with Brandon Turner; see as that might be your strategy. If I were you, I would look for a turn-key residential property and house hack with other tenants. That could range from an SFH up to a four-plex. That way you can hopefully live FREE. 

Before you start, make sure you have the right finances in place. You need to have a reserve and invest from a position of strength, in my opinion. For example, I save $5,000 per home before purchasing my next investment home, plus saving the monthly CAPEX and vacancy amounts. You have to fight that feeling of scarcity minds set and look at investing through the lens of an abundance minds set. 

Keep out this forum:

https://www.biggerpockets.com/forums/834/topics/925289-getting-started-investing-while-in-the-military-full-time-job

Sincerely, 

Josh