All Forum Posts by: Jacob Sugar
Jacob Sugar has started 2 posts and replied 4 times.
What are your views/experiences on purchasing homes through a sheriffs auction sale?
Considering this approach but would like some input, thanks!
@Brant Richardson this is the biggest issue I'm stuck on right now. I'm back and forth because some people say use the equity since its there, and others' say use the cash like you suggested. Ideally, I wanted to use the cash for any type of upgrades or projects that would need to be completed.
This is my biggest obstacle right now, figuring out what source to use as the down payment.
Truly appreciate every single one of your responses, advice, words of wisdom! I'm going to soak it all in and incorporate it into my game plan. Thank you all very much once again!
Long story short, I have a single family home (with substantial amount of equity), I have added value to it (without appraisal), and have years of cash savings.
I've done my research for the past year, read countless books, listened to hundreds of podcasts, anything and everything you could imagine. I'm sitting in the ultimate situation but don't know what leap to take and I have countless questions because I know the ultimate dream a lot of you on this site have achieved is so close I can almost taste it.
I'd really love to have an in-depth conversation, but to start it off here are a couple to start..Any input is appreciate more than you know.
1. Should all rentals be under their own unique LLC or is one LLC holding all properties sufficient?
2. What are some tips from experience in taking a HELOC from my home for the down payment on a rental? What's holding back the actions of HELOC after HELOC from there if the properties are occupied and cash flowing?
3. General advice for taking this leap when I know I'm more than financially ready to create side passive income with the long term goal of full financial freedom.
Truly appreciate any help or advice! Just signed up for this and would love any type of personal messages or opportunities for more detailed deep dives as well.
Best.