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All Forum Posts by: Eric Piccione

Eric Piccione has started 43 posts and replied 87 times.

Post: Can anyone recommend a well rounded CPA?

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22

Post: Can anyone recommend a well rounded CPA?

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22

I am wanting to set everything up correctly with my Real estate, LLC's, business expenses, and other relative business categories to remove a lot of the busy work.

The goal would be to get help setting everything up then it's a matter of scaling knowing everything is established correctly. Peace of mind would be amazing. 

The issue is finding a rockstar who would be able to help me get my ducks in a row per say. 

It would be amazing for a lot of this to be automated in some way so many if not all transactions are sent to a document/app all in one place for easy organization for taxes.

Does anyone have someone they can recommend? Always happy to chat more!

Post: Using a HELOC and Using an FHA?

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22

We're looking to move on to our second rental property that we've been in for over 2.5 years with an FHA.

The goal is to use a HELOC to pay the down payment + any small renovations.

We don't want to refinance since we got the home at such a good rate so the tricky part for us is getting the next home for the lowest down payment possible.

Can you get an FHA or sub 5% down loan since it's your primary residence through a HELOC?

Looking forward to hearing some options for using our equity in this scenario.

Post: I am wanting to connect with self storage investors

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22

Hello, I've done some searching through different asset classes and the self-storage investment business has peaked my interest for what i'm looking for. 

I love building systems and making things more efficient for myself and others. I'm hoping to connect with a few investors who have experience with self-storage. 

That said, let's connect! 

Post: Houston Home Builder Needed

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22

Hey Adam saw your post and would love to get my partners together and see how we could help on this or future projects you have going on, I'll send a PM with all of my info

Post: Does becoming an agent make sense?

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22
Originally posted by @Lydia S.:

@Eric Piccione

It appears you don’t like the aspect of being ‘on call’ or controlling leads that come your way.  That alone suggests you may not enjoy being an agent as that’s pretty much how Real Estate goes.

A new home hits the market and your buyer wants to see it?  In this market especially, you are out the door to show or you miss your window of opportunity.

You’ll need to market yourself to some degree and then in come leads, which you can refer out of course, but you won’t control the leads coming in.  Unless I misunderstand your point.

If you’re talking commercial real estate only, that’s a completely different ball of wax and I can’t say my points apply.

Good luck with whatever you choose to do.

Good points, while I would be on call with a client, I won't mind it nearly as much as I have a much better understanding of what my week looks like. 

I'll also be able to vet out the people who won't be a good fit due to qualifiers.

By control, I simply mean having the ability to decide who I can move forward with given income and various other things.

At my current job, I pretty much sit around all day waiting for something to come in and then I will go and attempt to 1 call close the client. The services are necessary but it doesn't sit well with me anymore. 

But in the agency world, I don't mind going to multiple homes in one or multiple days to find the one a client loves. I'm providing a service that people want guidance through as opposed to something people have to make a decision in a 3 hour time frame in my current line of work. 

Not to mention I want to be in this field for a long time and knowing the market provides a huge advantage without me having to consistently reach out to someone asking for anything new.

Post: Does becoming an agent make sense?

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22

@Matthew Mazur

I don’t work much right now through my job but I make decent money. I’m really considering becoming one since it provides so many opportunities someone without a license may not have

Post: Does becoming an agent make sense?

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22

@David Lee Hall, III

I’m an independent minded person and I really don’t ask my brother for access to be honest. I currently am having issues with my employment since the schedule is on call and I’m limited to opportunities to make money since I have no control over the leads that come my way.

We have a short term rental which is great but I’m looking to grow the portfolio faster and having a high income position will provide this opportunity. My one call closing job is great on occasion since the income isn’t too shabby but I’d rather work in a field where I’m interested long term and I’m not limited to one skill set while also expanding my tool belt in the process.

Post: Does becoming an agent make sense?

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22

My long term goal is to become a commercial investor, buying apartment buildings and businesses. Because of that, I've been contemplating becoming an agent myself since I would also like to get involved in wholesaling and flipping. I would take all the profits and reinvest it back into properties to grow the portfolio. My only concern is, is it worth the time to become an agent? My brother is one and is seems like he makes good money from what he tells me.

My current sales job provides pretty good income as well but I'm on call so it's frustrating at times. I love real estate and all the benefits that it provides, i'm just unsure if getting a license and becoming an agent is something I should pursue. 

For those who have more experience, what advice might you have on the matter? 

Post: Should I max out my HSA/IRA or neither?

Eric PiccionePosted
  • Investor
  • Cincinnati, OH
  • Posts 89
  • Votes 22

I wanted to know if I should put more money into my HSA, Roth IRA, or neither. If I had to choose between the two, the HSA seems like it provides more tax benefits than the Roth IRA. However, My company matches up to 5% of my IRA contributions.

I just don't know what I would be better off doing in this situation and i'm frantically trying to figure out the best course of action. I won't be touching this money for years to come so any and all advice is extremely appreciated!!

Thanks in advance!