All Forum Posts by: Joshua Feit

@Thomas Neely -- Josh here from Atlanta. I'd love to see some numbers on this place. Would you mind sharing a break-down of your expenses to get the place rent-ready? And it would also be great to see your estimated income and expenses sheet, NOI, etc. Would you mind sharing, to help us newer investors? Thanks so much!

@Winston Beverly Jr -- Josh here, your southern neighbor. I am a newer buy/hold investor with seven doors in the Atlanta market. Be sure to check into the BP podcast -- an amazing source of information that helps you learn on the go. The interviews on the podcast have taught me more than any other source out there. I can not recommend this resource enough! 

I wish you all the best with your new venture. Cheers!

@Rod Desinord -- Josh here; I am a new investor (buy/hold in the Atlanta market), so take my advice lightly!

That said -- yes! I do believe there are deals to be had and money to be made in today's market. You will likely have to push yourself beyond MLS listings to find them though. And you may have to expand your search into new neighborhoods.

I have found some really good leads on buy/hold properties by walking neighborhoods where I want to invest. I talk to as many neighbors as I can, and I hand out business cards as well. You will be amazed at how much neighbors know and are willing to tell you, especially if you are willing to spend some capital and clean up a neighborhood eyesore.

I also know that many have had success in marketing to targeted lists via mail campaigns. I do not have experience in this area, but I know there are plenty of BP posts on the subject. Just search for 'mailing campaign' or 'yellow letters'.

I wish you all the best with your real estate ventures. Cheers!

Hello @Isaiah Foster. Josh here from Atlanta. I am just a year into buy/hold investing in this metro region, and so far I find the field to be engaging, challenging, and satisfying. I hope you will find the same to be true for you.

I have learned more from the BP podcast than I have from any other source. I can not recommend this resource enough, especially as you can listen during travel / commute time.

Be sure to post your questions here as you look for your deals, and when you close on your first property, remember to post that as well, so we can cheer you on.

I wish you all the best with your new venture. Cheers!

Hello @Mark Andrew Deidiker. Oh, how I wish I had the wisdom to begin investing when I was in college. I am a newer buy/hold investor in the Atlanta market with just one year of experience under my belt, so please take my advice lightly.

We are always hearing about "house hacking" from Brandon on the BP podcast (which is an amazing source of information, if you haven't been turned on to that yet...), and I wonder if that might be a fit for you.

You could buy a little duplex, live in half and rent out the other half. Or, you could even buy a three or four bedroom single-family home and rent out the spare bedrooms to fellow college students. I did not get my start this way, but I understand this to be a simple, straightforward method for launching into RE investing. If you take this approach, you will learn a lot about land lording, and you will also likely be able to live for free as your housemates pay for your mortgage.

What do you think?

I wish you all the best with your real estate ventures. Cheers!

Josh here from Atlanta. First of all, two strikes against me (1. I know nothing about the Denver market and 2. I am a new buy/hold investor in my first year), so take my advice lightly!

That said, I love the combination of ideas I am reading here. Sounds to me like holding onto the property and raising the rents keeps you in a good position for monthly cash. And, there is plenty of equity in the property to take a loan against it, which will give you a nice down payment on a new acquisition. You could keep the cash machine going and expand your portfolio at the same time. Awesome position to be in! Well done, sir.

@Shane Odom -- congratulations on your new venture! Josh here, a fellow Atlanta real estate investor. I am in my first year of buy/hold investing. I wish you all the best as you take these first steps. Cheers!

@Hamid Taba -- Josh here from Atlanta. I'm a newer investor, so no advice today -- just a question for you, and for the BP community.

Have you considered hopping on a plane to Kansas City? I have often wondered why people invest out of town (especially new investors) without making the relatively small investment of visiting the actual property they are considering.

Besides, if you make the trip, you can make a detour to Niecie's for Chicken and Waffles or  LC's for some world-famous barbecue. Sounds like a great trip to me! Maybe I should invest in Kansas City...

Hello @Johanna I., and welcome to the BP community! I am Josh from Atlanta, and I am in my first year of buy/hold investing.

I do not have a wealth of experience, so others' advice may be better than mine. That said, I encourage you to lay out your goals. What do you want a real estate portfolio to do for you? What do you hope to accomplish in your first year? Within two years? Within five years?

RE investing has many paths and nuances, and it can be difficult to know where to begin. With your goals and milestones clearly delineated, you create a grid for yourself by which you will be able to measure all of the deals before you. Your specific goals should shape the neighborhoods in which you invest, the types of investing in which you participate, and the specific acquisitions you go after. Avoid emotionally-driven decisions as much as possible, and make all your moves based on how much closer you will get to your goals.

I wish you all the best with your new ventures. Cheers!

@Helder Cristovao -- I am purchasing a property through Hubzu right now. I think the closing period is largely determined by the seller working with Hubzu, and may vary depending on the property.

In the case of the house I am purchasing, the property had a broken lock box, and we could not get in the place. I put in an offer that included closing within 30 days and an inspection contingency of five business days (thanks to the busted lock box, I couldn't perform due diligence prior to writing the contract). They accepted the contract, contingency and all, and they repaired the lock box within 48 hours. We close on the property March 31.

Hope it helps! I wish you all the best with your new venture. Cheers!