All Forum Posts by: Holly Saxby

I am going through the numbers on possibilities of getting a down pmt to be able to get into investing. One option I am exploring is to refinance our current house, rent it, and use my refinance cash to buy 2 houses (a primary and investment). I know through listening to podcasts, that you can typically refiance to 70% of FMV in the brrrr strategy. If it is my primary at the time, is it up to 80% FMV even if the plan is to rent it out later? I am not going to be dishonest...I am just not sure if future intension is something that will come up in a refinance.

Welcome to BP.  I am an accountant as well living in Alpharetta.

I have no idea why this showed up in Marketing when I was in Multi family forum.

I am a newbie looking at a multifamily property for sale that I see on the MLS . It is basically a 3 bed/2 bath upstairs and 3 bed/2 ba downstairs with a studio over the garage. I am wondering if tenants prefer side by side units and shy away from someone living above them or if I am just putting my personal preference into the mix. Any advice whether they rent slower or not?

@Jason Hern

I wasn't aware of the possible problems with getting financing because of the LLC. I guess that makes sense because banks will want access to all funds possible if you default.

So, do you get the financing for the flips through the LLC? or do you get them personally and then transfer them somehow to the LLC after the flip?

@Jason Hern

I thought an LLC was the the normal structure most investors used for the liability protection? As I said though, I'm in the education part of this adventure and haven't got to the early setup...working my education from the backend of where I want to go toward the start. But, I know as an accountant, that I need to make sure the setup is right before proceeding. What is the norm for investors if not an LLC?

Hello Everyone! My name is Holly Saxby and I am a newbie at real estate investing. I was a CPA and am working to get my license reinstated after 10 years of staying home with my kids( I have to catch up on my cpe). During this time at home, I learned a ton about rehabbing our house and generally have a confidence about repairing/replacing most things. I am currently volunteering with my church's repair and maintenance ministry and learning more skills. I would like to make my 1st Buy and Hold property in 2016 using equity from our current house. I am here to gain knowledge and with that...the confidence to take the plunge in the next 3-4 months. I am hoping to finish my business plan in the next 2 weeks and set up an LLC to be ready to move. I would love any advice that would help!