All Forum Posts by: David Noskiewicz

Thank you gentlemen!

So, I have been researching, and researching, and researching...and loving every minute. however, I see so many Investors talking about their LLC. And so many others not. I have an LLC. well, I did, bath and kitchen remodeling, and am about to call the S.O.S. and have it closed. (I am not intrigued by crawling on my hands and knees laying tile, or dry walling any longer) and my question is, Why do some investors have an LLC. and others simply keep their jobs, and just purchase property after property and never went through the "trouble" of setting up a business. Did I miss something extreme? Do I hold off on canceling, and then perhaps, change the business name along with a few other things (ie. updating Articles of Org. ) and starting an actual investing business? I know it's broad and thank you in advance!

10K saved, able to save 1k / month pretty easily, and living/breathing/sleeping REI. In terms of buy and hold, and BRRRR, will the bank even finance me with the VA Loan for a Flip, being my first one? Average Credit Score?

Can someone briefly help me understand the BRRRR method, and inform me on the pro's/con's, haven't bought my first property yet, but am learning from the time I wake up, till the time I go to sleep, Saving money (about 10k) and could easily save 1k / month, from here on out, Buy and Hold intrigues me, but when it comes to flipping houses, then "pulling out your money", and repeating, I am not grasping this, and why. Why would a house flipper not do this EVERY single time they flip if it is such a great strategy. Is it only to pay off a lender right away with some interest? Buy and Hold is my goal, but is that the same as BRRR? or simply it's refinancing for a reason that clearly I am not catching and is over my head.

I am a 30 year old Marine Corps. (9years) Veteran, I was quite embarrassed to start going to school a couple semesters ago, but after reading a couple books (of-course Mr. Turners, as well as Rich Dad:Poor Dad) I  literally have a new "agenda" in life, and wake up happy every morning excited to work and learn (was not always the case until recently) Not to sound too "cheerful", but I really feel motivated, and haven't gotten my head out of the books/online/researching. 

My question is this: Since I am a Veteran and am lucky enough to be able to use a "VA Loan" (I have not yet, so it will be my first time) is a VA Loan an advantage/dis advantage and why? I know depending on ones C.S, they could possibly get approved and no down-payment is needed. Hope this isn't too broad, and Thank you ahead of time to anyone lending some words of wisdom.