All Forum Posts by: Dana Leviel

So I was looking into purchase vs refi rates and it's much cheaper to do a purchase, also some banks won't allow a cash out refi. Can my LLC own the property, then I buy from the LLC with a bank loan and move it back into my LLC?

I'm finding strictly investment properties with 20% ROI or better. I haven't been able to find good agents to do this even though I have tried many. I literally thought about getting my license. The turn key companies get 9-10% ROI in the area I find them in and are more expensive.

I have friends who want to invest and I typically spend about 5 hours a day looking up properties and working to get great deals. I would like to start charging a finders fee, but don't know what people usually get paid for that kind of thing. Seeing as they are family/ friends I would only charge 1/2 the going rate. What is the going rate for that type of service?? Thanks for the advice!

Ok guidance needed: I have purchased 3 investment properties (1 condo, a duplex, and a house) and helped with the purchase of many others. I alway take (rent-(Hoa,taxes,insurance,management fee, mortgage(if there is one)))/ initial investment to find my ROI. What I don't know how to include is unknown risk factors like repairs or vacancy, or ????? That I don't know how to account for. How are you guys accounting for and calculating these risks? Ps I never take into account the appreciation of the property, it's icing on the cake for me and not to be expected.

It's funny, I was just talking to my brother yesterday about wanting to build a comprehensive app with all of the basics needed for rent collection, credit checks, property listing, and reviews. His big issue is who is going to be willing to pay 3% to collect the fee which is what a lot of card companies charge when placing in the pay online widget. I'll be looking into solutions for this but I hadn't even thought about bigger pockets as a place to find out what people want and possible investors for the app.

we have 2 properties in California one that is currently a rental in the Bay Area and one that will be in San Diego. In other states you can put the property into an LLC to protect yourself and other properties, the problem is that in California an LLC is about 800 a year and can significantly cut into the earnings when there is a mortgage and other expenses.

What are others doing to protect themselves?

@Ryan Billingsley sorry forgot to tag you in the above post

does it come up on a line in the hud? How do you do it so that you don't make the owner upset about losing money they could have received or the investor upset about reducing their gains(this is easier since an investor sees he value of you already negotiating a great deal)

@Ryan Billingsley that is such a cool idea that I've never thought of. You don't need a RE license to profit from the sale?? I had an agent offer me a portion of commission for referral but another agent said that it's not technically legal so it's basically like gifting and can't be based on the sale of a property. 

I am a newer investor I now hold 3 properties and am working my way up. I am always open to advice from others and willing to help others through their goals.