All Forum Posts by: Diego Torres

Hey @Abby Li,

Welcome to BP, I would start by saying that you shouldn't refinance your primary residence. I'm the kind of person that thinks that "everything counts" but mixing your home with your business is never a good idea.

I think Central or South Florida are good options so you should definitely look into that. Also, try to look 16+ units as it will make your life easier (and probably cheaper) when setting up management for your property. I've heard good things about TN, but I'd prefer TX as a growing market and great multifamily opportunities there. If you're thinking long term I guess you would be more worried about your equity appreciation than cashflows.

Online crowdfunding is interesting but also very very new so I would hold up on that until its "proven". (that's just me though).

I just bought a 4 unit commercial property (small strip mall) cash out of state, I understand that I will be paying property tax in the state in which the property is located. Now I'm going to rent out the units, where does the rent income pay taxes, the state in which the property is located or the state in which my "management llc" is located? Or both?

Thanks for your reply Brandon. I definitely need to start looking into the different types of deals that can be made, but that's part of the learning process haha. It's good to know these kinds of things can be done as many people make it seem as impossible.

I'm interested in doing a few deals using seller finance. I'm interested to know if any of you guys has done it succesfully. How did you guys go about suggesting it? What deal structure did you use? Also, has anyone been able to get no interest? And any other info / insights you guys could give would be helpful.