All Forum Posts by: Account Closed

I totally agree with your first point but LLC prices vary per state and me personally I am not creating an LLC for my first property that I am purchasing out of state due to the ridiculous fees in California. Once I obtain a few more and I have some equity built up I will definitely be building my asset protection system.

I can only recommend using Chase as that is my bank for my personal use as well as my two businesses an LLC and S-Corp. I will be closing on my first property which is going in my name which will also be managed through Chase. I enjoy the convenience of their size and haven't had any problems yet but I do not plan to go down the unconventional lending scenarios anytime soon.

I also recommend Cozy.co as I am currently utilizing it to rent out rooms in my townhome that I currently reside.

 I would agree that being able to utilize leverage is what makes real estate investing so great but I can understand the desire to pay things off so as to not worry about them later. It all comes down to what risk tolerance you have.

 I want to second the use of Cozy.co as I currently use their system as part of my house hacking I am doing renting out a room in my townhome that I live in. They also provide a service to run background and credit checks for a nominal fee.

I personally would rent it out if it cash flows. You will continue to pay off the mortgage slowly which will bring more equity to the property and as long as the property stays maintained once you pay off that mortgage you will have a great cash flowing asset. 

I personally rent out rooms in my home which more than pays for my mortgage and allows me to save a great deal towards my investments and once I have a few cash flowing assets I will most likely purchase another property in Orange County and rent out my current home 100%.

I second this as a fellow Android user.

I should be able to make it. I look forward to meeting everyone.