If you can stand talking to another newbie...

[Steve Slagle]

I am interested in Cash Flow and appreciation.

I can put my hands on $45,000.00 +/- immediately. This money currently earns me about $2250.00 a month but it's PV could diminish if market conditions change making me look strongly at Multi Family RE.

The money is in my S corp that is not related to REI.

My CPA says to take a Distribution and form an LLC for REI. If I do that I will have $35,000.00 +/-.

My wife will not be involved as a signor. I want to isolate my family and it's assets from my business.

As you can imagine I have lots of questions so I will throw out some to get a conversation going. Maybe it will help others.

Is taking the money out of the S corp through a distribution the best way to get access to the capitol?

Do I need this much cash to make a decent deal? ( My credit score is 725+/- with BR in 2000)

Where should I look for Financing? ( I have a strategic alliance with a local community bank for my primary business )

What sort of properties should I look at? Duplexes, Quads, etc?

If I do this deal I would like to have at least $1000.00 a month in positive cash flow that I could pay myself.

Should I consider a partner? I have strategic alliance in my primary business that has offered. Neither of us any significant experience in REI, but I have had some limited first hand experience in the past. A 6 unit property my dad owned 25 years ago and I owned a couple of SF units yen years ago.

Thanks in advance.