All Forum Posts by: Chris Sean

@Wayne Brooks @Andrew Postell Thanks guys. sorry for the mishap

Like the title says...Does it apply to cash out refinancing as well as up front financing?

If I have a property that's already paid off, can I cash out refinance & get a home equity line of credit on the same property? Preferably simultaneously?

@Scott L. I'm sorry I should've specified that I meant mortgage, taxes, repairs, insurance etc was factored into the ROI/overhead equation. What should I wish is "(hopefully more) than your taxable income on the property"? So in short, you can pay yourself what you deem feasible after factoring in overhead correct?

I hear alot of people discuss ROI but nobody discusses what percentage of your monthly income you can actually expect to make it to your pocket/pay yourself from your LLC after expenses. If you have any insight thanks in advance.

@Jon Lee will do. I'll be reaching out shortly 

@Jon Lee I figured I would have to buy my 1st property all cash because A: I didn't want to get a conventional loan for my 1st property and B: I've learned an investor would be quicker to invest in what you're already doing as opposed to what you're trying to do. However I 'm definitely open to the idea of a private lender being willing to invest on my 1st property if you can point me in the direction of said lenders

@Jon Lee I see what you're saying. I was only looking to purchase/rehab my 1st property out of pocket. I figured going that route would help expedite the process/ give me a leg up if the owner has other offers should I find a great deal. As far as my vagueness The plan is simply to buy/rehab the 1st property all cash then rent it and refinance based on the costs of the purchase/rehab of the next property I choose to add to the portfolio. My ultimate goal is to reach a monthly residual income of 15-30k which would allow me to purchase more property more frequently as well as pay down the current properties quicker. Hope I gave you a better idea of what I'm trying to do. Looking forward to your feedback.