All Forum Posts by: Jarrett Mel Williams

@Scott M. I have not opened up an LLC yet. I talk to my tax and the attorney in the same office and they recommended not until I have several properties because of the cost in California for attorney fees. They recommended to me that I just go with an umbrella policy and keep them under my name as long as I can until I build up a portfolio. I would love to hear though if anyone else has any other opinions.

I just secured a contract on my first property. I am looking into creating an account with a separate bank from my own finances.

I am trying to decide, with this being my first property, should I just set up a new personal account for my property finances or create a business account specifically. 

Hello,

I just was able to get my first property under contract in the midwest using hard money lender. I am set to close on July 1st with no contingencies on a SFR. What due diligence do I need to perform? I am looking to create a list for myself so all ideas are accepted. In addition, have you typically used the same insurance companies your primary residence is through or do you keep them separated and go with different companies? Also, what type of banks have anyone used to separate there investment funds/income from their personal?

@Dave Spooner Thank you! I will

pass that along. Much appreciated 

Hello,

I am trying to gather opinions. I have a friend who recently reached out to me and told me his realtor he is working with sent him over a portfolio of section 8 housing. All of the homes when I looked over them with him after Cap X, Vacancy, Loan Costs, and Insurance are going to flow anywhere between $175-$230 a door. He was asking my opinion on section 8 but I have no experience with them. Would anyone be willing to offer me some advice that I can pass on to him.

-Would you purchase these?

-Is section 8 housing good to be into?

-Pros/Cons

Hello,

I am trying to gather opinions. I have a friend who recently reached out to me and told me his realtor he is working with sent him over a portfolio of section 8 housing. All of the homes when I looked over them with him after Cap X, Vacancy, Loan Costs, and Insurance are going to flow anywhere between $175-$230 a door. He was asking my opinion on section 8 but I have no experience with them. Would anyone be willing to offer me some advice that I can pass on to him.

-Would you purchase these?

-Is section 8 housing good to be into?

-Pros/Cons

-Any issues that have arisen

Hello,

I am new to investing in trying to learn how to find partners to help fund my first purchase. As I have read and learned 50% on a deal is better then 0% on no deal. That being said I am interested to hear how everyone found their partners or what they did to fund.

-How did you find partners?

-What was your pitch to them?

-What portions did they cover or did you?

-How did they work out in the end?

I've got a property that is being sold at $44k. I believe they should accept an offer at $40,500 with no contingencies. Issue I have is if I put 20% ($8,000) then the loan would need to be for about $32k and I can't seem to find anyone who will lend this little. This deal is currently rented at $575 and market rents are $650 so they is room for growth and I have it calculated at a 16% Year ROI. Any advice on how to finance this property without using all personal cash.

Hello,

I'm looking into accessing a Home Equity Line of Credit on my residence. 

Loan: $488k

Refinance Appraisal:  $615k

Is there any banks or lenders anyone has used in the past and what have been everyone's experiences with getting approved for one. What should I expect in the process?

Wanting to grow my due diligence and looking to see what do you all check when performing due diligence?

Rents?

Appreciation?

Rehab?

Scope of work?

Repair Estimate?

Interested in what everyone else looks at.