All Forum Posts by: Joshua Noth

Welcome to BP @Mauricio Castro! Happy to have you here. Always happy to connect to help out wherever I can.

Welcome to BP @Julian Simmons! It's great that you've started down that REI path so early. As far as the questions you've asked, I think most all of them have already been answered for you. Wishing you luck in finding a good BRRRR property!

Wow! That's really solid.  A 100k+ jump in less than a year is pretty great.  Congratulations!

@Jeff Duke welcome to the site! Keep reading/listening, and that will help tremendously as you get started.  For networking with local investors/lenders/agents, post keywords that will draw their attention on the site.  Mention cities, strategies, suburbs, etc. of where/what you are wanting to do.  Also, check to see of any local meet ups or groups to join in your area.  Hope that helps, and best of luck to you!

Welcome to the site @Will Rector! Happy to have you here.  It sounds like you are already off on the right steps, so keep at it and get after those investing goals. Best of luck to you

The biggest points have already been made (waiving contingencies, high earnest money, personal letter, etc.), but one I would elaborate on is offering over-asking.  While some see it is a rookie mistake, it isn't.  If the property is actually listed below market value, and you offer over asking, then you are simply showing your seriousness to the seller.  Yes, you are paying more than asked for, but you may not be *technically* paying more than what it's worth.  Some sellers list their property below market value on purpose, so they can get much more attention to it. If the numbers still work and your criteria are met even at that over-asking price, then you have helped secured yourself an investment.  

@Jorge Vazquez Hindsight is always 20/20. While crypto is booming right now, who knows how it will perform in the future. As others have mentioned, it may tank next month, or it may continue to rise; it is volatile. As many big time investors allude to, REI is so strong because it gives you, the investor, control. You decide where to buy, what to do with the property, how it improve it, etc. With crypto/stocks, you don't have as much control, but you can still make good money off of it (clearly!)

@Briana Headley thank you for sharing, and congratulations on the investment! That part of town is really growing, as evident by your investment. If you don't mind me asking, when did you purchase the property?

Welcome to the site @Myron Jackson.  It's great that you've already developed that mindset at a young age; the earlier you can start the better! I think @Benjamin Aaker had several great points that I would echo: always continue learning.  Starting down the rabbit hole of investing is great, but there is nearly an infinite supply of information and insights that can and will prove useful to you, so always look to learn more.  Whether it's a new strategy, a new philosophy, a new loan type, etc. there's always something to dive into.  

Once you have a solid foundation of education to build off of, as Benjamin mentioned, narrow your search.  Examples of things to ask yourself:  Long distance or local? What strategy are you employing and where would that work well? Do you need the 1% rule? Do you need a certain cap rate? What minimum cash flow do you want? Expecting appreciation, and if so, how much? There's TONS of questions you could ask to narrow your search, but only ask the ones that are important and applicable to you and your goals. 

From here, it's finding an agent to help you submit offers.  Ask on here, on Facebook, friends/family who they might know.  Submitting offers may take time and rejection, but it will pay off with enough patience and persistence.  

Welcome to the community @Latrice Warren!  Happy to have you here.  Wishing you guys luck in your investing!