All Forum Posts by: Jonathan Carter

Hey Bock, I recently purchased my first 3 deals using a personal LOC. I'm sure there are plenty of lenders who will refi if purchased through an LLC, but the lender I used said I would not have been able to refi if I purchased through an LLC.

I talked to dozens of lenders before I found newpennfinancial. Many lenders would not let me refi under the delayed financing exemption. They all wanted to base the LTV off the purchase price and not an appraised value like the FannieMae guidelines state you can do, or have me wait 6 months. But with newpenn I'll be getting almost all the LOC cash back so I can keep BRRRRing.

If the numbers work to wait 6 months that will open you up to a lot more lender, some of which should be able to refi a purchase through an LLC, maybe you might need to personally guarantee the loan.

Also keep in mind if you refi before 6-12 months you most likely wont be able to use the rental income to help with DTI.

didn't really answer your question, but I wanted to share some of my experiences. There are many good lenders here on BP, that will give you a better answer.

Yep looks like 217 was the show I was looking for. Thanks @Will Gaston and @Bill Goodland (tags never work on mobile)

Hey BP, which podcast talked about doing ~10000/hr jobs and delegate 10/hr jobs. Was that the 4hr work week author? I think it was an older podcast <#150

Hello BP, 

I'm rolling my old employee 401k into a Solo 401k with the help of @Dmitriy Fomichenko  Sense Financial Services. I'm keeping all the different balances in separate bank accounts. I don't have a CPA so wanted to see if the community can help. 

My question is for reporting and filling purposes do I need to distinguish and keep separate, taxable money in my ROTH account and non-Roth taxable monies?

How or why I have taxable dollars in my ROTH account  I don't know.

For example:

I have 3 accounts 

Roth - $8

Roth Pre-Tax - $2

Non-Roth Pre-Tax - $90

I want to move the $2 and the $90 into the same account, so I'll have 2 accounts.

Roth- $8

Non-Roth - $92

I've attached a sterilized copy of the Distribution Statement from Fidelity. https://drive.google.com/open?id=0B2fKR0DGIhojWmpJ...

Thanks!

OMG reading Amy Bonis site, they sound promising. I'm going to setup an appointment! Thanks @Andrew S.

FYI: http://amybonis.com

Hey Danial, Welcome! I just closed on my first rental property and plan to continue BRRRRing. I'm also a software engineer. Happy investing!!

Dang Is it a standard for REIs to meet on Tuesdays four meeting I want to attend all on Tuesday evening :| y'all have fun

I read a few posts that recommend finding an independent insurance broker, they can search multiple providers for the best coverage for you. Find one that has worked with investors. Shawn Adams was recommended to be, I haven't spoke with him yet but hopeful he can help. 

I'm looking for an independent insurance broker to help me choose what type of coverage I need and to find a policy to cover a duplex and 2 SFH in the triad region of North Carolina.

Also looking for an umbrella policy

Thanks!  

Keywords: Greensboro, Raleigh, Durham, landlord coverage 

I just used https://www.bwpf-law.com/ to close my first deal yesterday!! Brian was good, they work with investors alot. They quoted 2 weeks to close but I think they could have closed quicker if I needed and pushed for it