All Forum Posts by: Damian Mandina

Great questions.  Thanks for reminding and I agree that it is definitely a two way street.

I am new to real estate investing and I am fortunate enough to have two gentleman that are willing to sit down with me tonight over dinner and allow me to pick their brain and ask all the questions I want.  If you were brand new to the business what type of questions would you be asking them? I am primarily looking to invest in buy and hold properties with the occasional flip.

Questions I have thought about:

How did you get started in REI, and how long have you been at it?

How do you finance your properties? 

How do you account for repair and maintenance cost on your properties?

What areas would you recommend that I look to investing in and why?

What type of rentals do you recommend to stay away from and why?

What is the typical ROI that you target?

Do you use property management?

Please reply back with some addtional questions for me to ask.  I know that are some that you would have liked to have known when you first started.

Welcome Leon

If a someone is sell a property that is currently listed as section 8, will the new owner be able to continue renting as section 8 or will they need to start the process over?

Thanks

Damian

I am working with Gulf Coast in New Orleans. It took me by surprise too. I got approved for 90% LTV on the HELOC. I'm going to do some additional digging tomorrow.

I have been in the process of working with the bank on establishing a home equity line of credit to start using as capital to invest in properties.  Today they said that I needed to reassure my house for not only the value of the house but also the value of the home equity line of credit.  Doing so would make my home owners probably double which would make this a no go.  Has anyone run into this before?

I am looking for any recommendations on a tax accountant / advisor in the New Orleans area.  I am in the process of getting my business structure in place and may be looking for someone to meet with to ensure I get things set up correctly from go.  Any recommendations would be much appreciated.........

Damian

Morning all,

I need some advice on how I should start up my REI business. I will be primarily be doing buy and hold with the occasional flip. I will be financing the purchase and rehab through a combination of home equity line of credit and stock sales. My plan is to take out a conventional load after all reparis are complete then transfer the property load to the to the LLC. I want to make sure I get the correct tax breaks and am not sure how it works with the personel and LLC finances being mix up. Or should I not even worry about the LLC until I have multiple properties.

My goal is to start building secondary income for when I retire.

I hope my question is clear,

Damian Mandina

Hello,

I am looking to start investing here in New Orleans and surrounding areas in the near future.  What areas of town would you advise to look to investing in?  I am mostly looking for buy and holds more than continous flips.  I dont mind renovating and/or flipping from time to time but dont want that to be my primary focus.  My investments will be for long term retirement rather than day to day personel income today.  Lets say I only have around 40k-50k for start up capital.  Long term goal would to have 15k monthly passive income.

Thanks

I am new to the real estate investing world, but I have a few questions about private lending and long term financing for long term buy and holds.  So I have been listening to all of the pod cast and hear multiple people talk about getting private lenders to supply capital for aquiring deals.  How do you get capital for buy and holds?  I am assuming that the private lending is short term to just get the property?  Are you using long term financing from banks or mortgage brokers?