All Forum Posts by: Cassidy Burns

@Russell Brazil $3750. 3 bed/3 bath new construction condo in NW Washington DC. HOA Fee of $321/month.

Question: I have recently come along a few individuals that like what I am doing in the real estate world and want to invest some money with me  and get involved. I have a few different types of "private lenders":

Scenario 1.) Individual that will lend me $$ at 7% to purchase properties and just pay him interest only. What is the best way to utilize this money? Purchase something with Cash below appraised value using his money, pay the interest, and then get a loan pull all the $$ out, pay him back and then have a loan with essentially no money down?

Scenario 2.) 3 individuals who have $10,000 and want to receive 5-8% continuous rate of return and continue to invest their return into the business and then pull it out in 5 years.

3.) 2 Guys that want to partner in the purchase of a larger apartment building? Form a LLC so we are 33% owners? They would supply the money and I am doing the sweat equity.

Any help/advice is greatly appreciated.

Thank you!

Great.  I'm sold.  Thanks @Michael Wagner

@Jeff B. @Michael Wagner How often do you have to update/upgrade the subscription if you do decide to purchase the Quickbooks Pro?  Does it ever get outdated?

Hi BP,

Opinions on Quickbooks online vs. Quickbooks Pro?  Seems like online offers better access.  If you do suggest online which level do you suggest?

Thanks in advance!

@Brent Neuenschwander Great information.  Thank you.

@Jaysen Medhurst thank you!  Great advice.

@Account Closed Thank you!  Greatly appreciated.

Hi BP,

Closing on my second duplex on the 31st.  Should I obtain title insurance?  

Thank you!

Hi BP,

I have been running into this question a lot as it seems that the location I am investing in most leases are month to month.  This particular duplex I am looking to purchase is fully occupied collecting rents at $475 and $450/month.  Both on month to month terms.  The purchase price is $74,000, and can easily rent for $520 & $575.  Tenants currently pay all utilities.  Can I raise these rents immediately?  Can I ask them to sign a longer term contract ?

How do I go about handing this?

Thanks!