All Forum Posts by: Account Closed

I'm looking for a  Lenders who can fund Commercial Buildings in Newport Beach California on LEASED LAND.  We are looking to do 10% to 15% down.  Major concern is we need someone who can do leased land.  Thank you for your time.  

We are working with Your Entity Solution , all our paperwork has been filed and we have our operating agreement and articles, etc. Its just myself and my husband as members of the LLC.

Right now I am just crossing my T's and dotting my I's .. making sure everything is filed out and filing the necessary IRS/State docs left ( 3522, and SOI)

Originally posted by @Mike G.:

Originally posted by @Clint Kreider:

Hi @Account Closed,

What are your goals for the multifamily properties you are looking to purchase - appreciation, cash flow, flipping? If you are planning to put the minimum down on a VA loan you may have trouble cash flowing in Long Beach and/or OC.

A client of mine bought a fourplex in Anaheim and another in the city of Orange last year. Both were in C+ areas and needed work. He put 25% down and projected to cash flow between $600-800 initially with the potential to cash flow $1600-1800 once renovations were completed and rent was raised. They cost him about $800k each. 

So, putting anything less than 25% down will make cash flow challenging. 

 Hi @Clint Kreider, @Jacquelyn Bedford

This may be a little off the original topic but I'm confused when I see people talk about putting more money down to make the property cash flow better.

I would rather keep my 25% down, in my bank account, and receive a little less every month as a "cash flow". The way I see it, you can make any deal cash flow with a big enough enough down payment. I think you're just cheating yourself, thinking you got a better deal than you did.

If the deal doesn't cash flow when using a VA loan, I wouldn't consider the deal to be worth your time.

 Hi Clint - we are looking to have the multifamily property as a cash flow property. My husband knows the financing details and would be better suited to answer that question.

Mike - thank you for bringing up that point. I appreciate the conversation starter about the different way to view the potential cash flow of the property we will be investing in. 

We have already spent the money! 

We established  the business to hold our property under and of course to lessen our liability. We are looking to secure a property no later than June.

Curious as to why you suggest to skip the LLC altogether ?

Hi BP members!

My husband and I just established our LLC. While filing out the necessary forms and paperwork I've been stumped on a particular item in our minutes regarding Capitol Contributions of the members.

Was anyone else confused on what to put in this field? We haven’t invested into any properties yet and the only cost or capitol we put up to start our business was what it cost to file and register ourselves with the Sate of CA. We plugged in with a company to help us understand how to stay compliant with our business but they only said this field varies per industry. I’m reaching out to all the BP members since I'm positive a large group of us have established business entities as well.

Do we consider the cost of filing our paperwork? What about any associations, sites or companies we are working with that we have paid for?

Please let me know if you have done this before or what I can do to lessen my confusion.

Thanks

Hi All! 

We are a husband and wife team in the Southern CA area and we are new to Real Estate Investing.
My husband, Jacinto, is in the US military (stationed in Alaska) and will resigning in a few months. I, Jacquelyn, am a full time employee and student studying International Business and Fashion Design. After talking about our goals and dreams and everything we want to do in our lives, we decided to put a plan in place to help secure our financial future. Real Estate had always been an interest of ours and so we decided to take the leap and see what it has to offer. We started with a coaching program at the beginning of the year and since have plugged into many resourses for more education and networking. We established our company, Bedford Estates LLC, and are ready to get out there and start making deals.

We are currently looking for a 4-plex property in the South Bay/Long Beach or OC area here in California. We will be using VA financing.

Also, we are always looking to grow our connections and build a solida team. Any recommendations for Agents, Brokers, Attorneys, CPAs, Accountants, Bookkeepers, Contractors, Appraisers, etc. is GREATLY appreciated. 

Thank you for any advice and assisstance you may provide us. Please feel free to contact us. We would love to work together with you!

Hello everyone. My name is Jacinto Bedford. My wife and I are new to real estate investing and we are looking for Real estate brokers or agents that could help us look for multi-unit properties (Four plex. ) With a cash flow of $500 - $1,000 a month. I'm currently in the military and resigning in a few months. Thanks for your help.