All Forum Posts by: Evan Salvador

Hey Devin, 

Who did you work with for financing?  I have excellent credit but I'm hearing around 5% - 5.5% for non owner occupied mortgages.  Would appreciate a referral if possible!

No idea how to really read the property card.  As for the property taxes... I don't know if there's an easier way, but I just get the parcel number, then go to the Indianapolis Treasurer site.  Then go to the Property Tax Homepage (It's on the left hand side), Then "View or Pay Bill", then click Real Estate Taxes, then type in the parcel number.  I tried using addresses but it wouldn't find the invoice.   The Invoice's 2nd page shows the taxes and cap. 

Yes you can find all the education for free...but how do you know what to find? Learned more in months from Renatus' education than trying find everything in the ocean of information on the Internet. Make sure the group you check out are actually investing in RE. Som groups are just pushing the education.

Renatus is not a scam. They make money off the product and recruiting. Not just recruiting. Many people, like myself, bought the education and use the education. You are not required to market for them when you buy their education. The education is absolutely useful especially for novice and intermediate investors. I joined BP almost two years ago. I had no idea where to start! I spent a year and half reading the guides, listening to podcasts and using the forums. The problem is there is no structured system to learn. It's just a big library of real estate and an amazing platform to build relationships. Don't get me wrong, BP is great. It's just hard to figure out what you don't know. Renatus' education is systematic. You learn step by step and one of the crucial class is figuring out which type of investor you want to be and what type of assets you want to have. Some people are buy and hold or fix flippers, or wholesalers.. Great but which type is the fit for you? I am a natural skeptic. So I cross reference all the info I learned so far with other sources including BP...they all are confirmed. Problem is I would have never know to find this info without renatus' systematic approach. The product is solid and consistently updated which you get for life. Not like the gurus. These instructors are all actual investors. I researched all of them lol. I learned more 4 months and on contract with my first deal already. But I focus on applying the education.

@Conrad Metzenberg Consult a tax professional in the state you're investing, but using a HELoC through your LLC shouldn't be a problem. The LLC just keeps your personal assets protected from any liability that may arise from anything owned by your LLC. That's pretty much it. You can shove whatever cash into your LLC you want. I've done that with other businesses(non-RE) and never had a problem but it was all in CA and had my cpa approve any actions.

The only thing that I know of that gets tricky is when you deal with retirement accounts from family members.  There's certain rules you need to follow or you get penalized like crazy.  I don't remember all the rules off the top of my head but worth looking over since many people are looking for alternatives to the stock market at this point. 

I found it easier to build relationships with smaller regional or local banks rather than the big name banks.  For example, my company was approved for 250k BLoC through a regional bank where Wells Fargo only approved us for 5k.  Literally $5000.   I was able to talk to the regional bank about the company's financials in detail whereas Wells Fargo, you get road-blocked by sub par customer service reps who won't let you get to the underwriter.   On the other hand, big name banks are everywhere and much more convenient if you need to make transactions in a branch while travelling.  

Just my 2 cents

@Nick Walts I'm looking to invest in the area.  I'd like to see if you have any deals my group might be interested in.  Feel free to PM me.  Thanks. 

@Kenneth Reimer - Sounds like a plan! 

@Chris Isaacson Thanks for the feedback! I would love a list. How would one prospect off market? I'll go door to door if I have to! I can at least practice some deal analysis on that list.

@Derek Daun I've been looking at realtor.com and zillow. I will check out the others you mentioned. I see SFR consistently going up in the area. I was shopping for my own house about a year ago. My area in west roseville already is starting to go up in value. As I meet more and more people in this area, I'm finding good amount of people were from the bay area, like me, realized housing prices were just unreasonable and moved up here. I should walk around downtown roseville. I could use more exercise anyway :)

@Kenneth Reimer Good points to consider.  I'll get his next book after i'm done re-reading and taking notes on his ABCs book.  Dynamic is the way to go for any business.  It's like driving.  You don't drive looking down under you.  You have to look forward or you'll crash.  Good luck with your investing in the next year or two.  

Hi All, First, I'm glad I found this site.  This is obviously a great way to meet others and connect while gaining constant knowledge.  Thanks for any feedback that you Pros give a noob like me.  On to my question. I'm reading "The ABC's of Real Estate Investing" by Ken McElroy and I decided that I really need to take action and purchase my first MFR property this year.  I have been living in Roseville, CA for almost 2 years and I realize I know very little about the market here and the surrounding Sacramento Area.  My question is, what exactly do I look for when researching an area? I started reading local newspapers and business journals to get some insight of the market here.  However, it's so much info that I really don't know what I'm looking for no make sense out of it for MFR investing.  I know that Placer County has one of the lowest unemployment rates in CA.  After reading some posts, it's obvious SFRs are selling pretty fast in Roseville which leads me to believe there is demand for SFRs but I don't know what that tells me about MFR properties.  Maybe there's an opening for MFRs since SFR prices are consistently going up here(at least it seems to me) since there looks to be a low amount of inventory.   Also, I've read that the downtown area is being revitalized.   I'm trying to figure out if the Roseville downtown area is a solid place to find a MFR property (thinking triplex or fourplex for my first).  I know I should meet with local people but I'd like to get my level one research straight before I waste someone's time doing Level 2 research.  BTW, if you are an experienced RE Investor please feel free to message me to connect.   Let's see if I can add some value to an experienced investor.