All Forum Posts by: Dani Beit-Or

Hi Tzook (Ahalan), 

Opening a US bank w/o stepping into a branch is currently not possible to do (terror and money laundering are the reason).

If you plan to visit the US than you can go into a branch and do so. 

You may be able to use your paypal.

Many times bank is not a MUST have but a nice to have when it comes to investing - but may vary based on your needs. 

If you have a relative who's willing to open you an account under his name it would be a possibility. 

Years back in my early investments days I used to analyze rentals as "worst case scenario" - I have a cemetery full of good deals.

Only after a while I started using the "realistic case scenario" and started using an excellent excel to reflect that mindset.

Josh,

The way we structure it is as follows:

Do 2-3 flips a year (or more - depending on your budget) and use the proceeds from those flips to buy a rental.

For me BRRRR is a modification or a spin on the idea.

The benefit of BRRRR would be lower tax consequences than a flip.

The disadvantage MAY be that lenders sometimes are giving some hard time on how soon after the purchase you can refi and get money out, or more specifically what refi value a lender will agree to use - talk toy our lender more carefully about it. 

What I have established for myself and my investors is:
1. Short term engine (flips) to generate cash to by more rentals. 

2. Long term engine (rentals) 

2.1. Some low-end rentals w/ strong cashflow to offset the low CF of the mid-range rentals. 

Tampa is HOT and if I was you I'd move as fast as I can. 

BTW, so far just in Tampa in 2016 we did about 20 rentals and 25 flips.

Tampa is only one of our markets.

Don't let the $7k loss scare you - learn from it!

Good luck,

A. see what @waynebrooks wrote

B. You can go online and search closing cost calculator [county] Florida (sat Miami-Dade).

This way you can have a good estimate what the closing cost would be based on the county and buy/sell price.

BTW, FL has a sate transfer fee (i think that's the docs stamps above) that makes the closing cost a bit more expensive in FL vs. other states.

Dani

Hi, 

Obviously your best source would be w/ and attorney (and not a forum).

From my experience if you set up an entity in State A and buy a property in State B you will still need to reg. the entity in State B so you end up w/ double spending + possibly another tax return. 

So if you have considerations that are more entity and corporate laws related than using the state A  and state b makes more sense. 

 But if you are trying to save on $$ than multiple states would be costly. 

If you are not sure what considerations to address than talk to legal consult. 

Dani

Become A Smart Investor Not A Landlord – Out Of State Properties + Power Meeting

Lectures in Burlingame and Sunnyvale

Wed. 4/13, Thu. 4/14, Fri. 4/15

The class will cover the following:

• Basic and important aspects of real estate investing
• The Main reason you should invest in real estate
• How to get started
• The truth about cashflow vs. appreciation
• The buying process
• Investing locally or out-of-state
• Can you invest while being very busy?
• Using property managers and dealing with tenants
• Understanding mortgages
• Q&A sessions and more

http://simplydoit.net/downloads/become-a-smart-investor-not-a-landlord-out-of-state-properties-power-meeting/

Become A Smart Investor Not A Landlord – Out Of State Properties + Power Meeting

Lectures in Burlingame and Sunnyvale

The class will cover the following:

• Basic and important aspects of real estate investing
• The Main reason you should invest in real estate
• How to get started
• The truth about cashflow vs. appreciation
• The buying process
• Investing locally or out-of-state
• Can you invest while being very busy?
• Using property managers and dealing with tenants
• Understanding mortgages
• Q&A sessions and more

http://simplydoit.net/downloads/become-a-smart-investor-not-a-landlord-out-of-state-properties-power-meeting/

any updates?

LIVE EVENT - Thursday 4/14/2016 6pm PST

Register on: http://simplydoit.net/jiorM

Main meeting (only): $25
Main + Power Meetings: $40

Early Registration (ends 4/10/15)
Main meeting (only): $15
Main + Power Meetings: $30

-------------------------------------------------

The class will cover the following:

About The Speaker - Dani Beit-Or, Investor, Expert, CEO

Southern California-based Dani Beit-Or has been an investor and a leading figure in residential rentals and flips.

Dani has been investing in out-of-state properties for close to 14 years and has been involved in well over 2500 transactions.

Dani brings freshness to explaining and understating many aspects of real estate investing. His class brings together years of experience based on seeing what has worked well and what has not over the recent years.

LIVE EVENT - Wednesday 4/13/2016 6pm PST

Register on: http://simplydoit.net/jiorM

Main meeting (only): $25
Main + Power Meetings: $40

Early Registration (ends 4/10/15)
Main meeting (only): $15
Main + Power Meetings: $30

-------------------------------------------------

The class will cover the following:

Southern California-based Dani Beit-Or has been an investor and a leading figure in residential rentals and flips.

Dani has been investing in out-of-state properties for close to 14 years and has been involved in well over 2500 transactions.

Dani brings freshness to explaining and understating many aspects of real estate investing. His class brings together years of experience based on seeing what has worked well and what has not over the recent years.