All Forum Posts by: Kain Kim

Hi investor folks,

My partner and I are looking to buy a rental property in GA for a corporate lease (we already have one connected). Originally, we planned for me to handle the down payment with my HELOC, and my partner would pay me 50% of the HELOC payment each month while getting his own mortgage for the rest (75% of the purchase price).But it turns out he couldn't snag a mortgage for the full amount. So now we're looking at either just me on the loan (using both HELOC and mortgage, with him still paying 50% for my HELOC) OR both of us on the loan (with the down payment still on me). Most lenders aren't cool with transferring the title to an LLC after closing, so it's likely we'll have to close under our personal names. I'm also thinking of tossing him 1% of my 3% commission as an agent (I have license) to put towards the down payment. And we'll still do a 50/50 split on the work we put in.

Given all this, how do you think we should handle the loans, profit distribution %, and our partnership structure (tenancy in common or joint tenancy or LLC)?

Your input will be highly appreciated.

Hi there,

I've closed on a duplex in Akron, OH and am looking for a reliable and responsive contractor with whom I can work with continuously as a team.

Inspection has already been done, and I have a list of work that needs to be done for the property.

If you are or know the one, please let me know!

Thanks.

Hey contractors out there!

I'm looking for a contractor who can get things done as promised and is highly experienced in working with out-of-state investors. I need somebody to be my boots on the ground.

Let me know if this applies to you or if you know someone that fits in this category. I'm doing a walk-through this week. Thanks.

I reside in GA and am looking for a rockstar agent in Ohio. I'm particularly interested in the Cleveland/Columbus area but also open to other areas. Please send me a message if you are an agent and know how to analyze deals OR know someone who does. Thanks!

I reside in GA and am looking for a rockstar agent in Indiana. I'm particularly interested in the Cleveland area but also open to other areas. Please send me a message if you are an agent and know how to analyze deals OR know someone who does. Thanks!

I'm an investor looking to buy multifamily properties (up to 10 units) in GA.

If you have any lenders you would recommend, please send them my way!

Thank you so much.

I'm looking for a rockstar real estate agent with extensive expertise and experience in "multi-family" investments and a pre-assembled team ready to handle the entire project here in Atlanta, GA.

If you know someone who fits this, please let me know!

Hey there fellow real estate enthusiasts!

I'm looking to get a HELOC loan on my primary residence's equity to buy a BRRRR property in Atlanta, GA.

Seeking a lender with competitive rates, quick approval, and local expertise. Any recommendations or insights appreciated! 🏡💰

I currently reside in Atlanta, Georgia and possess approximately $1M in home equity from my primary residence. My intention is to acquire my first BRRRR property within the same town.

For financing, I am considering either a HELOC or a cash-out refi. Given that I lack the immediate funds for a down payment, I anticipate relying on the loan for this purpose.

Could you kindly advise me on an appropriate budget for my inaugural BRRRR property? Specifically, I am seeking guidance regarding the suitable price range for both the property purchase and the subsequent rehabilitation costs.

Initially, I had contemplated a purchase price of around $300,000. However, as I engage with other investors, it has come to my attention that they often acquire properties of significantly lower value.

Given the context, if you were facing a similar situation, what range of expenditure would you consider reasonable for your initial BRRRR property?

Hi all, 

My primary residence home is worth ~$1.3M, and I almost have no mortgage (very small amount with 3% APR). I'm thankful for this.

I'm looking to buy my first rental property (probably via BRRRR strategy) sometime this year if I could. But I thought I should first know what I'm doing. So I got my real estate license and have been studying myself to gain some experience and knowleage in real estate before I make a move. Fortunately I do have quite a bit of equity in my primary residence, but unfortunately I don't have much cash.

The questions I have are,

1. For my first rental property, I would most likely need to cash out of my current mortgage OR get a HELOC loan. Which one would you recommend? Again, I'm looking to do BRRRR.

2. Should I start big or small? If I have access to my equity up to $1M, how would you invest that? ~$200K-400K (or even less) on a property and ~$50K-100K on rehab? or buy multiplex home? I think I should start small, tbh as I don't have much experience..

3. If I want to buy a property that's worth ~$200-300K, I would probably have to go to an area that's not preferable (low income, high crime rate, etc.). Or should I go find one in a suburban area like a couple of hours away from the city? I'm even thinking about an area near casino

I'm still in the early stage of my real estate journey. Any advice would be highly appreciated. Thank you!!