All Forum Posts by: Account Closed

@Nick Rutkowski, thanks for the info. Super helpful. Would you be willing to share your note with me (excluding info you don't want me to see) so that I could get a sense of how you did it? 

@Guifre Mora

Thank you!

To your points:

1. On the HELOC, could I do that immediately after closing? And is it correct that I'd have equity from the AS IS price (175,000) minus the purchase price (120,000)?

3. Where would I find a "fix and flip" loan?

Thanks!

@Nick Rutkowski, Yes, great idea. What kind of interest did you promise on the note? What was the timeframe? Did you secure it with anything? 

Say I purchase a home at a great discount. The ARV is $250,000 and I purchase it at $120,000. I use a conventional loan to close.

Say I want to put $30,000 into rehab. What are the EASIEST ways for me to get that money?

1. Could I do a HELOC?

2. Could I do a cash out refinance?

3. What are other easy ways to do this?

Kevin, do you have one for developing a 15 unit residential housing subdivision? 

Does anyone know of a company that makes financial models or projections for investors so that other investors can get a sense of the numbers before they choose to participate or not?

My business partners and I are developing a 15 unit residential housing subdivision.

We're looking for an excel or google sheets model we can use.

We're looking at bringing in investor money in two phases, 1 phase for costs like paying back initial partners, marketing, land clearing, civil engineer, perc tests, etc, and another phase for more heavy duty stuff like purchasing the houses, build roads, install utilities, etc.

Who has a model for something like this? Land development + housing? Something we can make projections with?

Thank you,

Ben

Thanks all.

I have two tax questions:

1. Last year I earned income from 1099's as well as business income. Is it more advantageous for me tax-wise to apply my deductions to the 1099 or the business income?

2. Last year, I made several payments towards the purchase of a property that we're buying in a contract for deed purchase. We still have not purchased it yet. Are these payments considered "business expenses?"

Whether you can answer both or one question, all feedback is valuable and appreciated. Thank you.

Thanks guys. Three reasons:

1. He cares about me and wants me to succeed

2. He'll no longer have to pay me a property management fee

3. We're going to tie this to my work in another business we're starting