All Forum Posts by: Daniel Kent

@Kevin Urban the Galam Firm https://galamfirm.com

@Kevin Ravenell Jr. congrats! I got my license last summer and joined Better Homes & Gardens Real Estate Maturo. Feel free to message me and I can share my experience.

@Teresa Gimenez definitely check out this BP meetup in a few weeks! Great group of SJ investors! You will love it! https://gmail.us19.list-manage.com/track/click?u=029e0a4a1d3aa6dc739165d0b&id=17a0baaf9d&e=dd3dbde5c2

@Nicholas C Celli check out the first time home buyer grants available in NJ. This may take care of most of your down payment for you-

@Jacob Chambers Hi Jacob,

I am an investor and licensed Real Estate Agent in South Jersey. Feel free to shoot me a message, I’d be happy to connect and chat!

Thanks! Dan

Thanks Scott!  Definitely crazy lending market, and taking a lot of phone calls and emails to get some information!  We are definitely more on the conservative side, especially with the unknowns of everything going on.  Thanks for the note!

Hi All!

Quick financing/leverage question...

My LLC owns some rental properties free and clear, and in talks with banks to do a cash out refinance. We are pretty conservative and only want to leverage about 60% of the portfolio, to have cash available to purchase our next property. Considering two options-

1. Get 1 loan - a traditional Cash Out refinance on 60% of the portfolio

2. Get 2 loans - a traditional cash out on 40% of the portfolio, and then a second line of credit for 20% of the portfolio

Since we don’t have the next property lined up yet, the two loans will save us on interest payments, although there will be double the closing costs. And we can leverage the next property to pay down the line of credit, and then have that as a future emergency fund.

I appreciate and input!

Looking for recommendations for garage concrete pad repair in Morris County, New Jersey.

@Devan Russo welcome!

@Paul Greenberg - No problem! For the partnership I absolutely consulted with an attorney to help set it up, and I also had an accountant and a bookkeeper to ensure that the finances were all tracked appropriately. Once the bookkeeper helped setup my accounting software, (we use quick books), I took over the bookkeeping responsibilities.

Definitely worth the investment to make sure everything is setup right from the beginning, or at least prior to your first tax filing!

My single member LLC which has no expenses or assets yet, I just used an online service to create it. But will definitely use an accountant once I reach that step.