All Forum Posts by: Chris Howie

I have a multi-family in Louisiana and a duplex in Denver. I currently live in one unit of the duplex and and Airbnb the other. I don't have an LLC for either. I'm also about to start an Airbnb arbitrage business with a buddy in Houston (where we will be doing business as well). I am not sure what to do in terms of setting up an LLC. Do I need separate ones? Not sure how this works.

@Andrew Postell thank you for explaining this Andrew. I actually have quotes from two HMLenders that I spoke with today and it made a lot more sense after your help.

@Andrew Postell thank you Andrew! I am also looking and seeing that there is a point system that I was unaware of. Could you shed some light on that? Also, the one HML I talked to told me I would be around the 75-80% LTV range since I have only done one other deal. Is this decent?

@Rico Quatro it’s an individual who is is the wholesaler so I don’t have to deal with the company fees. I will make sure to ask as many questions about fees and what not before throwing go any money at this deal. I’m still having trouble finding a hard money lender in Louisiana though. I tried biggerpockets/hardmoney lenders at not having much luck.

@Andrew Postell thank you! Do you happen to you know a general interest rate range I should be aiming for when borrowing from a HML?

Hello, I have found an off market deal in the Baton Rouge, LA area. The wholesaler is asking about 150,000 cash for the deal and I’ve never had to pay cash up front. Does anyone have any advice on ways to find the money to put together the deal? Do I find a hard money lender and if so what type of interest rate should I expect?

@David M.

Wow, that’s crazy lol. I do like Home Depot, so that could work 😌

Once I do quit my job and achieve financial freedom, I still plan on working/doing something that I love. Even if it’s for a small pay check. Who knows, maybe benefits could be involved...

@David M.

That make sense. My father was telling me that it wouldn’t be worth quitting a job in X amount of years because the benefits from a job would be needed.

I am new to real estate and my plan is to have enough passive income to quit my job in 10-15 years. While this is the goal, what happens when I quit my job and I do not have a benefits package that includes various insurance plans?