All Forum Posts by: Deal H.

I'm in a similar situation. I think I've found a property that fits my criteria at the right price, but I'm not totally sure on its ARV nor its rehab costs.

Yes. After years of struggling with a sub 500 score, I've averaged an 830 FICO across all three credit bureaus for the past 10 years or so. Its certainly possible, but it takes discipline. 

@Nicholas L. Not having the correct ARV and having the rehab get a low appraisal is my main concern. Based on your response, it seems like the HELOC will take awhile to pay off regardless of the appraisal. Either way, my goal is to finally get in the game and start getting my investor feet wet.

Thanks everyone for insight. I understand that BRRRR would provide more cash flow, but from what I've read this method also requires more time and investment. I have a full time W2 job that takes up much of my time, so I'm leaning toward Turnkey until I gain some experience. Has anyone used the company Roofstock to acquire properties?

After many years of analysis paralysis, I'm finally in a place where I'm ready to make my first real estate investment. My plan is to use my HELOC from my current primary residence as the down payment. For someone in my situation, is it better to purchase a Turnkey property or a fixer upper using the BRRRR strategy?

The Holding LLC is currently structured in NM. I'm considering creating subsidiaries in, both, TX and OK. I'm wondering if the existing Holding LLC is worth keeping or if it would be better to dissolve and simply create individual LLCs.

Thanks AJ H. Since I already have the out of state parent llc formed, that would be my structure as well. I also considered dissolving the parent llc and reestablishing in the state where I reside, but I don't see any real benefits of doing so. 

Is it legal to have a holding company in one state owning subsidiary companies in other states? Both entities ( holding and subsidiary) are LLCs.