All Forum Posts by: Aaron Rushton

@Randall Alan Thanks for your input. I'd love to know more how you manage your properties? Are you managing them local or out of state? I'm currently out of state and don't know how I would find potential renters and managing from this distance. 

Thanks for your input. I'd love to know more how you manage your properties? Are you managing them local or out of state? I'm currently out of state and don't know how I would find potential renters and managing from this distance. 

Hello everyone,

I'm in the process of acquiring my first investment property and am currently setting up a property manager. While I haven't established an LLC for this house yet, I plan to do so in the future. To keep my finances organized and separate for banking purposes, would it be advisable to open another bank account or create a separate entity altogether? How would everyone set up for this?

Thank you for your insights!

@Logan Lambert we used a conventional loan for our first house. 

Hello everyone! I'm excited to share that I've finally taken the plunge into real estate after a long search! I'm closing on my first single-family home in the Memphis area, which I plan to turn into a long-term rental. My goal is to place tenants soon and then move on to my next investment.

While it sounds straightforward to rinse and repeat, now that I have this property, I'm wondering what my next steps should be. I want to minimize my out-of-pocket expenses and am considering using a HELOC on my home or leveraging the equity from my first rental down the line. What suggestions do you all have?

Great feedback! I agree that this would be making a struggle for creating profit with something like this. We do have the capital but we’re hoping to use something else besides our savings. Any suggestions? 

im looking for advice on financing a purchase. we were hoping to use as little of our money to buy a house and use the BRRR method. Were looking at using a Heloc as a down payment but its a variable 10.25% APR for 5 years or 9.87% for 10 years and we have to pull 100K on first draw. of course we can put back what we don't use. We also might be able to open a line of credit for a business and have 0% APR for the first two years. in saying this here my question.

1. are these the average APR for a Heloc?

2. should i try the line of credit and refinance and pay off before the 0%

3. any other suggestions?

thank you all for helping a newb out.

Looking to start in Memphis buying long-term rentals or flipping. I would love to connect with people who have experience in this area or even a mentor. If there is anyone who is using a trust to transfer mortgages to their LLC, I would love to shadow and learn more.

I am currently living in Oregon but will be relocating as soon as i can to Tennessee and starting an LLC. if anyone has a great roadmap, that would be extremely welcomed.