All Forum Posts by: James Beaver

@Travis C. Hello Travis, can you provide me more details on this? Thank you

@Mitch Messer

Thanks for the insight. I will work on getting connected with more wholesalers to be able to have more possible deals to comb through. And yes I am using the MLS resources to help analyze those that I do come across, like Sold comps, tax records and such.

@Larry T.

Thanks for the insight.

Hello BP family and friends.

I hope your portfolios are performing well. ;-)

I had laid some of the groundwork for me to start Investing but am looking for some advice.

I now have a 15yr interest only HELOC on my primary residence (Line limit is $90,000 with $29,000 +/- used on paying off some personal debt leaving $60,000 +/-).

I have an LLC that owns 1 SFR and I have a $35,000 +/- CD on deposit to give me access to a Line of Credit with a different bank. Those funds came from a loan against my 401(k) that I repay from my paycheck.

I have a personal credit card with a $32,0000 limit. (Used for day to day purchases and is paid off after each use to get the cash rewards each month....$30-$40 +/-) free money.

I have a PLOC with a $5000.00 limit. $0 balance

I have business credit card with a $5000.00 limit. $0 balance

And a Home Depot CC with a $2500.00 limit. (It was $5k but the lowered it due to lack of use. smh)

...and a Kohl's card, but my wife wanted that.

I am interested in 2-4 unit Multifamily and also in low end cash flowing single family that I can BRRRR. Cash flow is my main objective.

I know having a property owning LLC is a good thing but I'm not sure if I should sell off my owner interest (the initial personal investment of $35k) to combine it with the $60k Heloc to hunt for a larger Multifamily property, or focus on more SFR and 2-4 Multifamily.

I reside in Covington, GA with not a lot of investment opportunities here so I'm having to look elsewhere. I've been looking at Louisville Ky my hometown where cash flow seems to be pretty good in some less desirable areas.

Also on the table is a rental in a different LLC I just had to do a set-out on located in Macon, an hour and 30min drive away. (Property manager was horrible so she's been fired). It needs some work to get it turned. Not sure of the numbers just yet, but contractors will be going by in the next day or two to provide estimates. But that'll be another post. ;-)

I believe I'm suffering from analysis paralysis at the moment. Lol. and I could use some insight from some seasoned investors. I know it's all my choice but if you were just starting out again with access to the available funds what would you do?

If I don't move on a property soon I'm thinking of just putting a new in ground pool in my backyard and swimming around in circles until feel better about myself. Lol

P.S. I'm in the process of getting preapproved with a HML... I know that money isn't cheap but I've got to get started somehow.

Or I could uproot my family and use my VA loan with no down payment and no PMI to get a new house and rent this one out. But I just love my basement and I only have $120,000 +/- remaining on a 15yr fixed @ 2.875%.

Thanks in advance.

@Beau Watson Thanks for the follow up. Good luck.

Beau, check out Atlanta Peach Management. They are great. Tell them I sent you.  I live here in Covington, Ga and they manage one of my properties. I had already found my tenant and had them in place before hiring them however they do have a tenant placement fee. I was not charged that fee though. And Mike is correct they have to make their money somewhere.

@Seolhyun Lee Hello. Thank you for your reply to Frank. I have a property in Macon and I am having some issues with the tenant and the property management company I am currently using in the area. What is the name of the person at Active Property Management that I should ask for if you don't mind. Thanks in advance.

@Frank Inman Were you able to contact Active Property Management? Are you currently using their services at this time? If not, who did you find to manage your property? Thanks in advance.

Hello Caesar. I have a property in Macon. I am having some issues with the tenant and the property management company in the area. I wanted to see if you were able to find a quality property management company in the area. Thanks in advance.

Hello Andrew. I just sent you an email to be added to your distribution list. 

Thank you

@Natalie Kolodij All great information as I am definitely not an accountant. And especially thanks about the Mortgage Fraud piece. I definitely don't have time for that.