All Forum Posts by: Bill Nolan

@Crystal Brooks Thank you!

My concern is more for long term. Do I hold ownership or leverage to buy #2 & maybe #3. Meaning paying USFD (or whatever acronym is).

Looking for advisors....What actions do I need to take to pay as little taxes overall? What actions to ensure asset protection?

Follow the rule of surrounding myself with people smarter than me.

@Michael Lewis Lee Thanks for reply. To clarify, I have converted previous 401k (previous W2 employment) to Traditional IRA to now a solo401k for our business. This allows me to invest in multiple options including RE.

Its value is substantial and am using those funds to purchase 100% initially and use the BRRRR method to possibly refinance with non recourse loan (pre approved). my concern is the possible tax implications and filings. Preciously I have always done my own filings but am looking for that expertise along with asset protection and strategic support.

@Brandon Spurloc Congrats! great to hear success story. We are in process of our first deal. fingers crossed and will updated community when done!

Hi All

Looking to continuously develop and build team.

I am currently working with RE Agent and referred Attorney in the purchase of first investment property. With that said, looking at long term strategies and while not unhappy with referred attorney looking to community for reference specific to minimizing risk, maximizing gains and strategically develop portfolio efficiencies in asset protection and tax exposure.

I've been studying and educating myself for past 18 months prior to this first opportunity. Now that I'm there, I need to look long term.

Fist opportunity is 100% Cash purchase, maybe BRRR if it makes $$$ sense. I am performing my due dillegence to the best of MY knowledge & want to be aggressive yet strategic.

I am open to local (Chicago) brick and mortar referal or out of state digital / teleconference teammates.

If possible, my happy place is a referal with both capacities of Financial and Legal advice/support with REI using retirement funds, can support our (wife and I) small business and my W-2 with aforementioned expertise.

to date the forum has been a great tool. I do have an IM or connection request out there however looking for my Unicorn.

Thanks and have a great day!!!

@Mark Nolan is your list of lenders for Non-recourse loans form 2016 updated?

@Bruce Coleman Have you had any updat÷e to receiving funds since 11/2018?

I love this thread....for the record I have all Bosch 18v. after 18yrs had to get new drill/driver. went through 3 sets of batteries

@Adam Gollatz Thanks Adam, still getting some of the numbers together. It would be a 50/50 split. And it would be an issue on if one rents and one doesn't IF we were to really get down to it but plan it to start with 1 or 3 yr plan and split all costs & profits from two units after our personal use was done. I.am not sure on other PMs, but I'm sure there are some. Still researching...and seeing if we can negotiate with owner to make the deal best for us....made at purchase.

Hello BP I have been on site, forums, reading and listening actively for 6+ months and interested and started educating myself 15+ years ago. I would like to become a buy & Hold investor and can at current time purchase some property(s) with cash. However finding deals, family comitmints, working full time (60+hrs), life in general, blah blah blah....I'm making excuses...I have not pulled the trigger on anything. So here we are....I recieve a call from my brother where we have a mutual friend who's parents are thinking of selling their duplex (3/2 each ski chalet) in Michigan UP. It is turnkey, which I like. we would both own a unit, we would be able to use it as we with and "rent" to both small and large groups. It comes fully furnished and maintained...which we both see as needing anywhere from $2500 to $8000 on updating depending on how far we want to go which includes known CapEx. Now this is manaanged, maintained, cleaned and has low taxes, by a local group, Big Powderhorn Lodging Association whom previous owners have been with for over 10 years....anyone have any experience? BPLA takes 30% for each night's room rate which in high season is ~$200/night. currently waiting on historic booking rates for past 5 years. My wife is on board, which to date has been a hurdleas she is more risk adverse and sees this as a second home for us when we want it. I like the scenario as a first "deal" ...I am in with a trusted partner, it is cheap, it is tuenkey, and i will hold for 15 yrs with the option to use for personal time.nt Please tell me yours thoughts and any pitfalls I am missing.

Hi @Eric Sanders, I am a newb also, in Tinley Park also and am on some 0ath you described. I'll send you a connection to hopefully discuss what each are doing and finding?