All Forum Posts by: Vince Rodriguez

@mel Adams 

yes depending on the lender , you can get 75 to 100% credit based on lease length and how you file your taxes. Rem, residential lending caps out at 50% dti. So unless you make 2x PITI it will affect you a negative way but the amount of damage is minimized. So 2k rents for a 1k PITI payment is a wash anything over is a plus and under gets hit

bought a SFR with a garage conversion for 143k cash, worth 180k+ in Bakersfield CA, gross rents should be about 2k, rehab maybe 10k

so answer is always yes if you know your numbers

no, you do not need LLCs to start buying rentals. Its an excuse people use to not get started. If one makes $40k a year and is worth zero dollars. what is this person trying to protect? 

LLC stands for limited liability company not corporation. do not setup a s corp for rentals, you might get hit with self employment tax. also C corp is not for rentals lol. tax designation for LLC for rentals is either disregarded or Partnership. please dont take advice of people on forums on legal matters. CA now offers the 1st year for free for LLCs. You dont really need LLCs to buy your first property. you have to buy them in your name anyway if you wanna use fannie freddie loans. you can move them later.

I have 25 units and bought all of them with my name, but I do have a few LLCs now i use. I  move my properties into it after the loans and refinances are done.

Thanks for coming to the event guys! that was a lot of fun! it will be on the 1st wednesday every month! RSVP for the next one below! see you then!

https://www.biggerpockets.com/...

Hello my real estate fam,

Our last event was great turnout and was a lot of fun!

There was a lot of feedback about the whiteboard session, so we will be nerding out on math... if you guys want :)

  The event will be for new and seasoned investors looking to learn more either actively or passively investing in real estate in the current market.

things that will be discussed

-quick class on a relevant topic of choice, comment below if you want me talk on taxes, asset protection, structuring deals

-  can you still invest in this market>?

- how to get started

- how to actively or passively invest in RE

- networking with other people

Let me know if you have any questions, feel free to post or message me anytime, we will have some of my friends who are in the game and own assets you can chat with and network

no services or mentorships will be pitched. This is purely for networking and getting everyone into the game of investing

-Vince

Link to my website

Park on the parking lot on the right when you get in , it's free 

@Simon Chang see you there !

@Linda La , see you tomorrow!