All Forum Posts by: Joshua Watts

@Josh Anderson

Go to my profile and you will see this same post but it will have a lot of people asking questions. I am not sure how this one is even on here. But in short I plan on making this self storage facility. I would like to see someone convert a big box store into an apartment building. I think if you could make it look nice there would be a lot of demand. 

Here is an update on my project. The city zoning board loved the project and now the project is approved we can pull the proper permits. Pulling the permits was a small issue. City wanted fire protection which was going to cost the money. We ended up installing fire walls which the city was ok with. Inside and outside painting is completed and outside parking area has been cleared. I will post a couple pictures soon.

I would think LTV of 80%

I would get the money out of the place that I put in and lock in on a long term loan (30year) and keep it for long time. Then got find another one if that is what you enjoy. (This concept has done me very well) 

@Dave Foster

Good information!

@Stephanie Parrish

Welcome Stephanie like everyone else said there is lots of information on the site. We invest in the Chattanooga area along with Marion County, North Georgia, and out towards Nashville. Feel free to email me and I will take you up one day on the coffee. Welcome

@Lauren Cooper

Good to hear! Just keep in mind that being a real estate broker is not investing. A person can be good at selling housing to people but still really have no idea about passive investing. While that being said you have to start somewhere just know there is a difference in the two and there is nothing wrong with being either one. Good luck to you and keep us posted on you journey.

@Lauren Cooper

Hi Lauren back to your question how would I would tell a newbie to invest $500K. I would tell them not to invest the money at this time. I going to assume that you still need to work and you know that $500K is not enough money to retire as of yet at your young age. I am going to also assume you like the real estate idea/business. So knowing how great real estate can be and how having capital can be a DISADVANTAGE at times I would get a job at a family run real estate company and learn the business of passive investing. (and by the way you get paid for it!) If I could not find a family owned estate company I would get a job at a property management company. When you are applying for the job just tell them you want to learn the business and you will work there for free for a month while you are in training. If someone come to our family owned real estate business and said that and I had a opening i would darn sure give that person some serious thought. After that learn the business at work, read the books, tapes, network, and ect. Over time ask the family if you can be a jr partner on one of there deals. (if one of my employees asked to be a jr partner I would do it no matter if they only had 5k to invest it is just the right thing to do!) Or if you are at a property management company you will end up seeing opportunity at some point being it a deal you can do yourself or partnering with someone. 

Feel free to comment I usually try reply in the mornings.

Josh

@Justin Frank

Thanks Justin if you ever over in the southeast look me up. I got a place you can stay for a few days.

     Yes Sir you are not ready to be buying investment property yet. It does seem cold but you need to follow what Anthony is saying. There will be another deal for you when it is time.