All Forum Posts by: Jay Howard

Hello-

I'm an OOS investor, currently own 2 duplexes in Indy. I'm looking to expand my business in 2022 and looking for recommendations for local banks/lenders to partner with for deal funding. My first two loans have been in my personal name, but I'm setting up my business structure in the next month and open to commercial options as well. I'm looking to research different programs across short-term financing, refis, HELOCs, conventional/portfolio loan programs. Ideally, I would also like to obtain a HELOC on my non owner occupied investment properties (tough to find, I know).

Lastly, although my business will be new, I have a Single member LLC with established credit and my personal credit profile is strong (800+ scores, high W2, low DTI, etc.).

Feedback appreciated.

Thanks!

@Jackson Hartman What financing did you work out if you don’t mind me asking? I’m considering a similar deal in size and scope.

@Joseph Somuah Jr - I will DM you. Would like to be added as well. 

Following this thread and hoping for some good engagement as I'm also in the boat where I'm not trying to replace my W2 income or retire. My macro goal with REI is to supplement my retirement income in 10-15 years and (potentially) build a business I can pass down one day. I'm not concerned with short-term cash flow as much at all, but incorporating REI into my long-term wealth building strategy to take advantage of concepts like leverage, appreciation and tax advantages. In 10-15 years, I hope to have a portfolio of 20-30 great cash flowing assets and may shift to a more hands-on REI strategy at that point... or just golf every day and enjoy life!

Personally, I've been vetting turnkey companies and am incorporating a strategy of buying solid assets at market (or near-market) value in growing cities/neighborhoods. It seems to be against the BP norm, but I'm not forcing appreciation and want a hands-off (as much as possible) experience. 

@Eric Schmid do you mind sharing what area in Wisconsin? Minneapolis resident also exploring Wisconsin locations. Nice deal!

Thanks, @Renee Fletcher! Congrats on your first investment!

Incredible @Renee Fletcher! Are you willing to share a bit more about your experience? Did you use a turnkey provider, how did you select the provider? How did you ultimately decide on KC as your market, was it the deal itself or were you targeting KC? What is the projected cashflow, how did you run your numbers?

As someone also interested in KC turnkey, I'm curious about your experience!

Congrats!

@Daniel Hyman - Can you elaborate on the tax benefits of syndications for high W2 earners?

MN Represent! I'm targeting 1-2 small multi/SFH in 2021. Looking forward to connecting with you all!

Following this thread as Indianapolis is one of my targeted markets as well. Thanks, @Kris Schonewill