All Forum Posts by: Howell Conant

Hey Stacy, 

I have been working with Summit Capital Management. You should definitely check out their website https://summitcapitalmanagement.net/ . I've found that they have killer rates and Chris the guy I work with is awesome, just really helpful and knows the Mass market. 

If you have any other questions about them shoot me a message by all means. I would love to connect and help you out if I can. 

Looking forward to hearing from you,

Howell

Welcome to BP Steven!

I am pretty new to the Real Estate scene as well. I have been able to connect with some awesome people through the website and other means while learning a ton. The podcast you mentioned, they are such a great way to learn about the industry from people who have done it. I would love to connect. Feel free to message me if you have any questions or advise. 

Looking forward to our conversation, 

Howell

Hey Shawn,

Welcome to the business! I am very young myself, just turned 21. It is exciting to see other young people like ourselves getting into RE. If you want to talk about getting your feet off the ground, I may be able to give you some perspective from a younger persons point of view. 

Feel free to message me if you have any questions regarding anything really. 

Looking forward to hearing from you,

Howell

Hello Everybody,

I am relatively new to the REI world and wanted to know what most of you have been using/doing to finance your deals. I know there are a lot of options but I want to figure out which ones work best in which situations.

Who have you used as lenders at what rates/time periods and what not?

Thank you for your help,

Howell Conant

Hello BP community,

I wanted to ask if there are any upcoming REI group meetings that I would be able to attend for free. I would attend for the purpose of networking and really just getting a feel for what happens at these meetings. I want to learn as much about the industry as I possibly can and I feel as though attending these meetings and talking to experts and established investors in the industry is the best way to do so.

Thank you to anyone who can help,

Howell Conant

Thank you @Bill Devola!

I am going to try to create an Excel spreadsheet that will help me calculate all of this. I have a model that can help me evaluate equities using 5 year historical and 5 year projections so I have a base to work with.

I know there is a calculator on this website that I can use to work with but it would be nice to have all the properties in one spreadsheet.

Thank you for your advice!

Howell Conant

Awesome, thank you @Brandon Turner. I just signed up!

See you then,

Howell Conant

Hello Again BP community,

This may sound like a foolish question but I hear on the podcasts and what not all the time, "analyze 2, 5, 10 deals a day if you want to get good at recognizing a deal." Are there deals to be analyzed on BP? Or do I need some sort of MLS software? Or can I simply look on Zillow and places like that to find deals to analyze.

Also, how does one go about a deal? Say I'm interested in flipping houses. Would I guesstimate the ARV and see if the home sells for 70% ARV and then track what it sells for in the end?

I would be so grateful if someone could point me in the right direction on this subject.

Thanks you for your help! 

Howell

Hello Mary,

I am currently a student in college and we covered this topic the other day. The bottom line is whether or not creating an LLC with enough assets can protect you and your sister as individual/partners. Many if not most banks will require you to co-sign a loan along with your LLC so that there is some consideration coming from the person/business entity receiving the loan.

The reason the person said don't bother creating and LLC if you have no assets is because you will rarely get a loan signed by solely your limited liability corporation (LLC). If personal protection is what you seek, you would need to build a decent asset base in order for lenders to feel comfortable enough to lend to your business.

With all of that said, poor business practices can make you liable for repayment to your lender even if you are "protected" by an LLC. I am not totally sure what "poor business practices" entail but I can imagine a big bad bank would do anything in their power to get their money back on non-performing loans.

I would say your best bet is to talk to an attorney. I'm sure there are some here on BiggerPockets that you could connect with and receive a more professional opinion.

Good luck with your endeavors!

Howell Conant

On a Macro level everything has been slowing since December as I'm sure all of you know. Of course, different markets are going to be affected differently by the same contagion (I know close to nothing about the real estate market specifically, I'm still in college) but maybe that has something to do with it?

Actually, what happens to real estate when oil prices go up? interest rates (FFR) go up? Less spending on houses and more on apartments? People moving closer to cities so they don't have to pay for their commute/gas? interesting...

Sorry I'm thinking out loud, but thank you for your post and comments. Definitely got me thinking!

Howell