All Forum Posts by: Joseph Gozlan

Hi @Isaac Antoine

Welcome to BP :-)

This is a great community and I'm sure you'll find it very knowledgable and helpful regardless if you are new in the business or an experienced investor.

@Juan Perez first, welcome to BP :-)

You can use a lawyer to do that and you can also use self-services such as LegalZoom.com to do that.

If you decide to go with the self-service option I'd highly recommend to start with reading a little more about the different legal entities, understand what kind of protection each offer and what is the pros/cons of each and then decide what is right for YOUR situation.

A good podcast to listen to about assets protection is show 109: http://www.biggerpockets.com/show109

There is also a link to a document prepared by the lawyer to summarize what was discussed in the podcast.

Good luck! 

Welcome to BP @Joe Davis

You'll find this community very active and I'm sure you'll also find it very helpful!

Make sure to check the "Learn" link on top. Lots of great knowledge lives there.

@Christian Brodin

I see we missed the date but I'd be interested in the next session (just signed up to your mailing list).

I Invest in the DFW / N. Texas market.

Good timing! I was just looking for some loan structure examples on the forum :-)

Thanks @Isaiah Foster for doing this!

I was looking at NNN as an option recently but i'm not sure how will the loan structure look like.

Say a property is 1.5M

At 20% down it's 300K plus closing costs.

How would a bank structure such a loan. Are we looking at 30 years amortization as in standard mortgages? 10 years terms, I also saw somewhere X years amortization with a balloon after Y years (where Y < X)

Can you help me understand what would be a loan structure a community bank such as yours do?

For the sake of the example you can take the qualification and cap rate out of the equation. Assume strong borrowe, national level tennant in the NNN and avarage cap rate for such property/tenant.

Thanks!

Joe

New website design uploaded. 

I'd appreciate any feedback (here or in a private message)

Joe

Welcome to BP @Stephen Tupper

I'm sure you'll find this community very helpful. Make sure to check out the podcast. they are just awesome!

@Phil Moeller if you listen to podcast #95 the was someone that was taking over his partner's half of 30 something units. he structured it in a way that he pays it out of the cashflow of the properties. 

I thought it was a very interesting option.

in my opinion, being the your first property, i'd stay close to home.

you WILL make mistakes and it WILL cost you on your first property. It's just the nature of learning the business. We all went through that ( and keep learning everyday)

I'm not saying it's impossible. It is and has been done before, it's just a matter of trust, team and systems. 

You must be able to identify a team that can handle the management on your behalf that you can fully trust and has great systems in place. 

Trying to find a plumber to show up at 2AM when the tenant is calling panicking that the water heater is leaking all over the basement is very hard in your own are let alone thousands of miles away...

Just my .02

My thoughts are if you were not cashflowing before how will you handle the additional line of credit? you could find yourself underwater real fast...

Don't get me wrong, I don't believe in selling real estate properties if it could be avoided but I also don't believe in negative cashflow and over leveraging yourself...