All Forum Posts by: Dusty Corning

Sharad M. Thanks for sharing your criteria. Do you have a minimum credit score criteria? What if they don't have any housing related bad credit, but the rest of their bills are late?

Listen to podcast #49 here on BP. Has a lot of good tax tips from a CPA who is also an investor. Generally speaking an LLC isn't going to provide tax benefits since the income passes through to your personal tax return. What specifically are you trying to accomplish?

Sharad M. Great job! Getting this fixed and rented for top $$ in about a month is fantastic. Couple quick questions if you don't mind: Are you paying cash for these properties and the rehab cost? If so, do you finance them later into a portfolio loan to pull your cash out and increase returns? Also, are you just using the 50% rule to calculate your net return? If so, how accurate has that rule been for your other properties over the years? Would you say it is accurate, overestimates expenses, or underestimates expenses? Thanks for the feedback.

Looks like I am in agreement with the other investors. I have managed very low end and working class neighborhoods WCN. In my experience the WCN were much less work and ended up with better cash flow.

I'm not familiar with Oregon laws, but in Texas you have to have your license assigned to a Broker in order to be active. If you leave your broker then your license transfers to inactive status and you can no longer practice real estate. I've found a friend who has been a broker for many years and let me assign my license to him for a small percentage of any commission I make. You can also find a broker that lets you keep 100% of the commission, but charges a small monthly fee or fee per transaction.

How did you secure a 10-year interest free loan?