All Forum Posts by: Dani Beit-Or

@Joe Prenger I used Nick Baldo from Income Digs (look him up).

He's very experienced w/ RE and Podio, very methodical and systematic and delivers!

@Account Closed

I'll start by saying that no-money-down and 4% rate is very good terms . . . for him.

Based on the past experience (+possible emotional involvement) I think the best course of action for you is to speak to an attorney and raise w/ the attorney all your possible concerns.

This will also make sure you don't miss anything important that will possibly come to bite you and all under relevant CA laws. 

I don't think a forum like this or not using a proper legal expert is smart.  

I wish I could give you a better and more concrete advice. 

  

Qs to ask about putting in an LLC:

1. What are my risks - and how will LC will protect these risks? 
2. Umbrella is "easy"
3. Am I using conventional financing or not
4. Why do you want an LLC? Because others say so? Because an attorney said I must do it? Or an actual legit reason?

I have been investing for 18+ years. 

I typically invest in nice middle-class houses/communities in good schools.

I have had and sat on a lecture where attornies came in and "scared" us that we must buy in an LLC or else . . .

For years I'm have been looking for the horrors stories told by those attorneys and found ONLY one noe that there was no LLC and the insurance company paid 25k and issue solved.

While I'm sure there are more stories out there - as one who's actively looking for those stories (I have many opportunities to ask and look for such stories) I'm still surprised that I could only find 1 story.

For me it means that LLC is placed too high on a pedestal, typically by attornies who have a product to sell ("but wait today for only $299 . . . . " lol)

after so many years my take is . . . . why do you need a LLC . . . and if the answer makes (low end/highrisk.flip/other) sense use one for sure. I have when it made sense.

Buy LLC is NOT my default for every property.

As a long time out of state investor (I live in CA and invest in Nash., Tampa, Orlando, Dallas, KC, ATL, OKC, and more . . .)

First I want to see how much is the HOA monthly and what do I get for it (and are there any rent restrictions!)

Second, if HOA is not too high, biting into my CF, I have to say that when I need to deal w/ the HOA as an owner - I'm annoyed and don't like it BUT the HOA many time tell me if there is an issue w/ my house, w/ the tenant trashing the yard, etc.

Plus all in all HOA takes care of the community and a good one will tend to make sure it looks good.

So overall I, as a OOS investor I likie having the HOA as it's another "eye" watching over my property.

WOW! 17 and already thinking about investing - kudos to you. (and I thought I started young (26)) 

Gaol: buy your first rental before you are 18

what you need to do:

1. Invest in learning how to evaluate and analyse an investment

2. Don't be pressured to buy - take your time

3. Find/follow a mentor - start building knowledge and build your "bible"/checklist

There is so much to learn. and many great resources.

You can signup for a course or spend hours on YouTube/Podcast

If you choose the latter - take notes and come up w/ your Do's and Don't list

If you have no cash - your best option would be seller financing. that will take time to find but will work in your favor.

I hope you hear this one FULLY: If you play this right you can be FREE and CLEAR by the time you are 30-35. There are people in their 40s and after that are still trying to figure it out . . . 17 WOW.

Good luck 

From my experience, 99.9% of lender will not lend 100% for the rehab & 100% of the purchase. 

A lender may do that only if the borrower has a proven flipping experience AND specific experience w/ the specific lender. 

In other words, if you work w/ one lender again and again and build a good rapport they may offer you 100%+100% 

But it is a rare one.

The book may be dated or not entirely correct. 

@William Espich 

I'd stick to TX. You have Dallas and San Antonio not too far.

Yes, Austin is tough for #s to work.

But I in my opinion Dallas and San Antonio are by far better than Indiana. 

BTW, of you are thinking of Indy - I have tons of bad experience there with GCs, local people, even with one of the companies responded to this above. 

If you "must" leave TX there are many other places I'd pick before.

BTW, I have been investing (and helping others) more than 16 years  so answering from experince. 

I realized that RE will enable me to build wealth and in a consistent way (rentals) over time better than other options.

I love the fact that there is a high leverage option and if carefully selected low(er) risk.

After 18 years I still have not found another way to use leverage that can help build wealth.

It requires patience and attention and it is not "noise" free but all in all . . . steady way. 

@Horacio Gutierrez did u find anyone? 

@Nidal Daraiseh these day we are active in Nashville, KC MO, Houston and DFW