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All Forum Posts by: Cole Raiford

Cole Raiford has started 6 posts and replied 110 times.

Post: Multiple bank accounts on LLCs ? holding structure question

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@Mike Jones meh. If someone wants the name of a LLC owner it's pretty easy to find. I find LLC owners and their contact info with a few clicks all the time.

Post: Hardwood flooring: does this look like normal wear and tear?

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@Jack B. Looks normal to me...

Post: Multiple bank accounts on LLCs ? holding structure question

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@Jonathan Bren hold mine in my name with a separate bank account for all rental income and expenses. QBO to manage book keeping for CPA. Have a couple million Umbrella policy for liability. Pretty simple.

Post: BRRRR LTV Refinancing With No Seasoning Period

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@Dan Valiente add it to the HUD as mentioned then do delayed financing with your bank. They'll lend at 75% LTV (maybe more depending on bank and your financial position) of original purchase price on HUD.

Post: Closed on my first property last week!

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@Justin Wotring great job. Way to take action!

Post: Does anyone on here have rentals under their name? Or LLC?

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@Samantha Rodriguez I own in my name with good insurance and I have a $2MM umbrella. Works fine for me.

Post: “If its on the MLS its already a bad deal”

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@NIcholas Hamel find the wholesalers working your area and network with them to get an opportunity on their properties. This will likely be the best way to find prices much lower than the mls.

Post: Business Checking Accounts, Credit Card’s & Logistics

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@Terrell Garren has it right. Multiple rentals on one account works fine for me. I just assign all transactions to the appropriate property in quickbooks. Works great.

Post: How much to pay wholesaler?

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@James Baker there is no rule of thumb for this. Their profit depends on a lot of factors and it varies.

Post: First Rental Property Deal Done!

Cole RaifordPosted
  • Rental Property Investor
  • Gulfport, MS
  • Posts 113
  • Votes 133

@Maurice Blackledge good job taking action!