All Forum Posts by: Aaron Junck

:( nothing off the top of my head.. How about you Scott?

Hope you designated a large area for the venue sounds like you will have record number of people wanting to attend :)

Welcome to BP Frank. I am sure once you start searching around the site you will find out you can find out pretty much anything you want dealing with real estate.

Welcome Abraham. Sounds like you are doing well for yourself.

Stay in the loop of whats going on in your market by networking and IMO be ready to transition to do deals with different strategies when the time arises, otherwise if you have something that is working for you and your goals, why change.

I would have to agree with you that BP is way more beneficial than Facebook lol and once you start meeting different people on here and searching the site it becomes just as addictive and very informative!

Welcome to BP Frank

I am currently offering something similar to that here in my area.

The only thing is.... I want to be the GC and build the multifamily. Depending on home many units and what lender you use... I have seen 20-30% down required. As you mentioned, most are the same with you on not wanting to tie up all a lot of cash in 1 property.

The way I propose my offers are the purchaser must have the $ to get approved with the bank and then after closing is all done I would offer up to 90% of the value of the property( i.e. if the bank is borrowing 80% I would borrow 10%).

Another option is to offer a seller a different property you have as collateral. Create a note tied to a different property. That way you still have 80%LTV on your new property so the bank doesn't throw a fit.

Ned Carey sorry I must have missed it stating that he held it over 1 year.

I know in my state from what I have heard is that bigger rentals aka 5+ units property taxes are taxed on commercial tax rate. It sounds like there are people in our state that are trying to get that changed, however, it must not be getting far since I havent heard much about it.

I would say easiest way to find out is talk to a realtor that deals in commercial and smaller properties as well.

Just curious but why isnt it taxed at short term capital gains rate?.. there is a possibility of losing money if a person doesnt know what they are doing or comes across some major issues not factored in.

Not saying you cant have a loss on a business (self employed) but do you know why its looked at as self employed vs capital gains?

Here you go. Its simple

If you dont ask the answer will always be no.