All Forum Posts by: Alex Smith

Thanks @Nate R.. Your post made me think to buy with a personal loan, start an LLC on the side, and then record the cashflow on the books of the LLC while the rest of the rent pays down the personal loan. Think I'll explore this and see where I wind up in a year or so.

Thank you @David M.! You're the man. 

You too, Steve, thanks for the feedback. 

Thanks, @David M. for your detailed response. If you find time to send those links that'd be much appreciated. I'll try to find the topic on other chats on this site in the mean time. 

Hello everyone,

I'm looking to buy two townhouses and rent them out. I was told I could only get a personal loan. How do I buy these properties as a corporation? Can I buy them on a personal loan and eventually sell them to my corporation or LLC? Or do I have to form an LLC first and then buy the properties? If it's the latter, how do I get a loan, especially since the LLC would only be in business a few days?

Thank you,

Jason

Hi Everyone, 

I've been educating myself and scouting out Duplex opportunities for my first house hack. I've been doing so for about a year. There is a modestly attractive opportunity available. The only reason I say modest is because I don't love the location.

Anyway, what does everyone think? Should I take the dive? Or is it worth waiting until the end of the year with the thinking that unemployment and foreclosure forbearance effects will be causing ripples soon? 

With that said: is anyone else expecting a Covid fall out later this year? 

Thanks.

Or, is it best to just calculate cash-on-cash as if both units are renting? 

Hello Bigger Pocketers,

I'm looking for my first deal and am currently analyzing a Duplex that I would House Hack (live in one half and rent out the other). I'm curious what folks think a good cash on cash return is in a situation like this? Also, what do folks think about sacrificing a little cash-on-cash return to (1) get a first deal done and (2) live rent free? 

The potential cash on cash here is around 5 percent. 

Thank you,

Alex

Hello BiggerPocketers. 

Does anyone know if there is a way to search city records for all buildings that are designated multifamily?

Thanks,

Alex